Answer: | | In Alberta, in a bankruptcy, you are entitled to keep the equity in a motor vehicle up to a value of $5,000. Your car loan, would be a secured debt; therefore, it would generally not be included in your bankruptcy. If you are leasing a vehicle, you may be able to continue in your lease, provided that your payments are current. If you made arrangements for the return of your vehicle to a secured lender, they will still continue to hold the vehicle as security, regardless of when they come and pick it up. If you have specific concerns, you may wish to speak with your Trustee. Vanessa Grant
phone: (403) 296-2977
vgrant@alger.ca |
