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| Author: |
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Joe |
| Date: |
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October 12, 2004 |
| Question: |
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I have a judgment of 30,000 against a person who five months
later declared bankruptcy. Is the court judgment sitting in the court of
bankruptcy or that can be cancelled?
On bankruptcy paper a secured car loan of $18,000 is listed as liability
but he is making a payment for car of $667. Is possible to waive the car
liability and the bankrupt to continue his payment or something is
mishandled by bankruptcy trustee?
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From: |
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Ann Clarke, Alger & Associates Inc. |
| Date: |
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October 12, 2004 |
| Answer: |
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The judgment is stayed by the bankruptcy and cannot be collected. You
can, however, file a claim in the bankruptcy for the amount owing to
you. Also, a person is allowed to continue making payments on a secured
loan as bankruptcy only covers unsecured debts.
Ann Clarke
phone: (403) 296-2972
aclarke@moneyhelp.ca
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