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defaulting on car loan

I can`t afford to make my payments. If i default for a month or two what will the bank do? If they can reposess the car if i file bankruptcy do i get to keep the car the value left owing is under 5k.

Posted from: Ontario

One Response to “defaulting on car loan”

A licensed trustee said...

If the lender has a properly registered lien on your car and you default on the payments (or file for bankruptcy and stoip making the required payments) you should assume the lender will NOT let you keep the car. To keep the car you have to pay for it…