I have a loan with Avco ($7000.00) for which I used my household goods for security and a loan with Capital City Savings for which I put my car (1994 colt) up for security. If I claim bankruptcy will I be able to keep my car and furniture?

If Avco and Capital City Savings are secured creditors they will have to be paid if you want to keep the assets. If you file bankruptcy, you have probably committed a default under the loan agreement and it will be the creditors' choice if you get to keep the assets.

It would be a good idea to obtain a free assessment of your financial concerns. You should contact a Trustee in your area by looking in the yellow pages under "Bankruptcy".

If you have any further questions or want to come in for a free assessment to our office, please call or email me using the information below.

Shane Brenneis
phone: (403) 298-1575
sbrenneis@collinsbarrow.com