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”
Please post a follow up comment below:
(Note: comments are reviewed by moderators and then posted after approval. In addition, due to high volume some of the comments might not be posted.)
You must be logged in to post a comment.
February 21, 2011 at 10:05 am, 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.