gifts after bankruptcy

February 21st, 2011 by Questions

As a single senior with considerable debt to CRA, even my pensions are being heavily garnished. I know I will have to give up my car which is leased and payments too high. My question is, if i am in personal bankruptcy, would I be able to accept a gift from family of an older car for basic transportation?

Posted from: Ontario


One Response to “gifts after bankruptcy”

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

This likely won’t be an issue as long as you are careful that the vehicle is worth less than the provincial exemption available. However, I would suggest that you contact a local trustee in advance of this to make sure that it is arranged properly and that you don’t cause yourself any problems.

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