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| Author: |
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Daisy |
| Date: |
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March 30, 2005 |
| Question: |
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My husband is considering filing for bankruptcy. He has financed a vehicle which we have paid off more than half. My question is would he be able to exempt the vehicle on the bankruptcy?
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From: |
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Ann Clarke, Alger & Associates Inc. |
| Date: |
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March 31, 2005 |
| Answer: |
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The vehicle and loan must be reported in the bankruptcy documents but you can likely keep paying on the vehicle. Usually a financed vehicle does not have equity over the allowable limit of $5,000 in Alberta.
Ann Clarke
phone: (403) 296-2972
aclarke@alger.ca
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