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 Super Intendent of Bankruptcy at 416-973-6441 to discuss your options, or you can visit their website here.

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What is covered by the filing of a bankruptcy?

If I owe money to a car manufacturer for damages to a vehicle that I was leasing, will this debt be a part of the bunkruptcy?
I will return the car once the lease is up and this would be the only money owing from the lease. I have not missed a payment on the lease over a 4 yr term.

Posted from: British Columbia

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One Response to “What is covered by the filing of a bankruptcy?”

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

Yes, these damages should be an unsecured debt and cleared by the filing of a bankruptcy. However, timing becomes very important. The vehicle must be returned prior to the filing of a bankruptcy for this to happen. If you file for bankruptcy first and then return the car at some later point, then you will not be protected from these outstanding amounts.