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.
2025-10-06
MNP Consumer Debt Index
Ontarians’ financial vulnerability is intensifying as persistent economic uncertainty, concerns about borrowing costs, and employment anxiety weigh on household confidence.
2025-10-06
MNP Consumer Debt Index
The financial vulnerability of Saskatchewan and Manitoba residents is intensifying as their financial cushions shrink and more households edge closer to insolvency.
2025-10-06
MNP Consumer Debt Index
Albertans’ financial vulnerability is intensifying as persistent economic uncertainty, concerns about borrowing costs, and employment anxiety weigh on household confidence.
