December 24th, 2012 by Questions

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


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…

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