FILL OUT THE FORM BELOW AND RECEIVE A NO-OBLIGATION CONSULTATION

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car

I have a car thats worth about $3000. and I am planning to claim for bankruptcy my question is would I be able to keep my car or would I lose it. Thank you

Posted from: Alberta

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One Response to “car”

Barton Goth – Goth & Company Inc. -Trustee in Bankruptcy said...

There would be no problem with you keeping your car if you file for personal bankruptcy. In Alberta the Civil Enforcement Act determines what property can be kept and what property is lost. It stipulates that as long as your vehicle is worth less that $5,000 then it is considered an exempt asset and is not impacted a bankruptcy. What I would recommend is that you contact a local trustee in Alberta and they will explain this in more detail.