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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How can we help you?

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

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Car

I am considering filing for bankruptcy after I was forced to close my business due to medical issues. I have a company that has a lien on my car. Do I have to pay the lien in order to keep my car or what happens to my car? I have less than $5000 in equity in it.

Posted from: British Columbia

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One Response to “Car”

A licensed trustee said...

If you car was used as collateral (security) for a loan then you’ll have to keep making your loan payments if you want to keep the car. Sorry, but you signed a deal that said if you don’t pay they get your car when you took out the loan…