2009-11-30
Many lenders are comfortable with an individual keeping their financed or leased vehicle after declaring bankruptcy, as long as the lease or loan payments are kept up-to-date and all other terms of the financing agreement are honoured. You mentioned that you just signed the financing papers. We have had instances where the individual has obtained the vehicle financing just prior to filing bankruptcy and the lenders have allowed them to continue on with the financing arrangement - i.e., keep the vehicle and continue with the monthly payments. Different lenders have different policies, and their willingness to continue with the arrangement depends, in part, on your history with them and other factors. So, although no trustee can guarantee that you'll be able to keep the vehicle, lenders are often receptive to this. Judy Scott Meyers Norris Penny Limited Port Moody, Burnaby 604-949-2113 [email protected]
2025-11-07
Bankruptcy Consumer Proposal
If you're facing a mountain of debt, you're not alone. There are two viable options available to help you find relief: Consumer Proposal and Bankruptcy. Each approach offers unique benefits that can be tailored to fit your specific financial situation.
2025-11-06
Filing for bankruptcy doesn’t mean losing everything. Learn which assets are protected in B.C. and how to move forward with a fresh financial start.
2025-11-05
Debt Solutions
Unexpected tax debt can be a daunting prospect. How can you confirm the CRA is really calling you — and pay back what you owe?
