2008-02-27
With a few exceptions, most banks and lessors will agree to your keeping the vehicle in a bankruptcy and continuing on with the payments so long as your payment history has been good and your payments are currently up-to-date. On the other hand, if you felt that the payments were too high for you to manage, you have the option of giving the vehicle back to the lender/lessor and the bankruptcy will protect you from any shortfall. There are a few other things to consider, such as the value of the vehicle vs. what you owe on it, and you may want to get some advice that is specific to your particular situation.
2026-07-13
MNP Consumer Debt Index
Atlantic Canadians (68%) are more likely than those in other provinces to say at least half of their income is already committed to bills, debt payments, and regular expenses before it arrives.
2026-07-13
MNP Consumer Debt Index
According to the latest MNP Consumer Debt Index, three in five Canadians (61%) say at least half of their income is already committed to bills, debt payments, and regular expenses before it arrives.
2026-07-13
MNP Consumer Debt Index
According to the latest MNP Consumer Debt Index, nearly three in five British Columbians (58%) say at least half of their income is already committed to bills, debt payments, and regular expenses before it arrives.
