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Autos and bankruptcy

We have 2 cars but together they dont have a value of more than 5,000.00 dollars. Will be able to keep them both in the event of a bankruptsy

Posted from: Alberta

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One Response to “Autos and bankruptcy”

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

When looking at the filing of a bankruptcy in Alberta it is the Civil Enforcement Act that determines the exemptions. This statute stipulates that each debtor is allowed to have a maximum of one vehicle of up to $5,000 in value. Unfortunately you are not allowed to stack vehicles to reach the maximum value.