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can I lose my truck if I got a loan through bank to buy it?

Ifyou have a truck loan through a bank and if you don`t pay for truck bank will take it back. can you lose the truck in bankruptcy? Even if continue to pay for truck through the bank?

Posted from: Ontario

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One Response to “can I lose my truck if I got a loan through bank to buy it?”

A licensed trustee said...

Assuming the lender (bank) registered a lien on your truck, as long as you continue to make the payments you will be allowed to keep it, even if you file for bankruptcy or a consumer proposal. Obviously, if you don’t make the payments the lender may come and take your truck…