A Question Regarding Assets

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.

Latest Blog Posts

2025-03-05

Two in five Newfoundland and Labradorians fear they may never be debt-free, acknowledge needing help, but are too embarrassed to seek it out

Greg Gosse

MNP Consumer Debt Index Lifestyle Debt Debt Solutions

According to a new survey conducted by Ipsos on behalf of MNP LTD, two in five Atlantic Canadians acknowledge they need help to get out of debt (43%).

Read More

2025-03-05

Two in five New Brunswickers fear they may never be debt-free, acknowledge needing help, but are too embarrassed to seek it out

Tara Silliker

MNP Consumer Debt Index Lifestyle Debt Debt Solutions

According to a new survey conducted by Ipsos on behalf of MNP LTD, two in five Atlantic Canadians acknowledge they need help to get out of debt (43%).

Read More

2025-03-05

About one-third of Saskatchewan and Manitoba residents fear they may never be debt-free; acknowledge needing help, but two in five are too embarrassed to seek it

Pamela Meger

MNP Consumer Debt Index Lifestyle Debt Debt Solutions

According to a new survey conducted by Ipsos on behalf of MNP LTD, three in 10 (29%) Saskatchewan and Manitoba residents acknowledge they need help to get out of debt. 

Read More

Consultation icon