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| Author: |
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Rob |
| Date: |
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July 7, 2003 |
| Question: |
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If a joint bankruptcy is filed would it be possible to retain more than one vehicle? I am thinking of one that is owned (less than $5K) and one that would be leased, with payments continuing. It is important as we would both still need to get to work and need transportation (no alternatives).
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From: |
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Ann Clarke, Alger & Associates Inc. |
| Date: |
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July 7, 2003 |
| Answer: |
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You are each allowed a vehicle equity exemption of $5,000 in Alberta. If one vehicle is leased you can usually continue payments to keep the vehicle, as long as the creditor allows you to do so.
Ann Clarke
phone: (403) 296-2972
aclarke@moneyhelp.ca
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