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What happens to my secured truck and house in bankruptcy?

My name is the only name on my mini home. My husband and I both have our names on our truck. Both are secured. How do we keep them? I do have equity in my home but not much. We have never missed payments on either of them. How do I keep my home? What happens if I include my truck and home in my bankruptcy? What happens if I don’t?

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One Response to “What happens to my secured truck and house in bankruptcy?”

Jillian Taylor-Mancusi, Trustee | B.A. | C.I.R.P said...

Your question implies that you are currently bankrupt. As such your assets, including your truck and your mini home are assets of the bankruptcy estate. Your trustee will decide what the estates interest is in the assets. While in some cases it is possible to retain these assets, there are many factors that may come into play, such as provincial exemptions, secured creditors etc. You should be speaking directly to your trustee to determine what options are available to you.