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Co-signed car

If I file for bankruptcy will I lose the car my parents co-signed for me?

Posted from: Nova Scotia

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One Response to “Co-signed car”

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

As long as the equity (market value of the vehicle less the amount owing on the vehicle) is less than the provincial allowed in your province, then you shouldn’t have any problem. The other component of this is you also have to be up to date on your payments. For reference, most people don’t lose their cars when a bankruptcy is filed.