May 28th, 2012 by Questions

will i loss my van or truck if i go bamkrupcy

Posted from: Ontario


One Response to “truck”

, Barton Goth - Goth & Company Inc. -Trustee in Bankruptcy said:

When filing a bankruptcy the rules about whether a vehicle can be kept are based on provincial legislation which sets certain exemptions. In Ontario the rules state that as long as the vehicle is required for your occupation and you have less than $5,650 equity in the vehicle then your vehicle will be considered exempt and will be something you can keep.

The only other thing that you have to consider is that if you have pledged your vehicle as security against then you must also continue to pay any any loans against the vehicle.

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