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WILL I LOSE MY VECHILE

My husband and I are Separated and we both have a car my is a 1999 grandprix and his is a 2004 grandprix. I am presently unemployed and looking for work and need the car. Will I lose the car. I am not sure if I signed on the application for the credit cards if I have not due I have to file for bankruptcy

Posted from: Alberta

One Response to “WILL I LOSE MY VECHILE”

Barton Goth – Goth & Company Inc. -Trustee in Bankruptcy said...

As long as each of you has less than $5,000 equity (market value less any loans against ) in each of your vehicles, then you shouldn’t have any difficult keeping your vehicles. According to the Civil Enforcement Act of Alberta, each debtor is permitted to have a vehicle with up to $5,000 equity. So from the sounds of it you have no need to worry.