FILL OUT THE FORM BELOW AND RECEIVE A NO-OBLIGATION CONSULTATION

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*Unsecured debt includes credit cards, lines of credit, bank overdrafts, payday loans, and unsecured personal loans (excluding student loans). It does not include mortgages and car loans.

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If you have unsecured debt of under $10,000 and live in the Province of Ontario filing bankruptcy may not be the best option for you. We suggest you contact the Office of the Superintendent of Bankruptcy at 416-973-6441 to discuss your options, or you can visit their website here.

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Financed Car

I am looking to claim bankruptcy in the coming month. I have a Car financed at present and would like to give it up during the bankruptcy. The amount i owe on the loan is surely more than what the car is worth at present. If i need to include it in the bankruptcy do i have to return the car to the bank prior to claiming or do i just hand over the keys to the trustee?

Thanks

Posted from: Ontario

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One Response to “Financed Car”

A licensed trustee said...

This is something to discuss with your trustee prior to filing. We instruct clients to return the vehicles BEFORE they file simply to make certain the debt will be included in their bankruptcy with no questions asked.