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| Author: |
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Scott |
| Date: |
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January 11, 2004 |
| Question: |
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I am considering filing for bankruptcy. I currently have a lien against my car. The amount owing on the vehicle is $8000.00. If I declare bankruptcy is there a chance that I will lose my vehicle all together?
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From: |
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Ann Clarke, Alger & Associates Inc. |
| Date: |
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January 11, 2005 |
| Answer: |
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Usually in a bankruptcy payments continue to secured creditors for secured assets. The only time you'd lose the vehicle is if the creditor won't accept payment from you and insists that the vehicle be turned over to them.
Ann Clarke
phone: (403) 296-2972
aclarke@moneyhelp.ca
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