If you filed for bankruptcy or consumer proposal and financed or leased your car, we can help you keep your car as long as you are current with your car payment.
A Licensed Insolvency Trustee can take a look at your budget and determine whether there are enough funds to continue to support your car loan. If you cannot maintain lease or financing payments, you may want to return the car to the lender and look for a less expensive alternative.
Is Your Car Financed or Leased?
At the date of a bankruptcy or a consumer proposal, you have two options with a car that is leased or financed:
Motor vehicles are exempt up to $5,650. The trustee uses the black book to establish the value of the motor vehicle. If the value of the motor vehicle is $5,650 more than your loan, you can make arrangements with your trustee to buy back the car.
What Are Your Options?
Call Harris & Partners Inc. today to speak with a professional about motor vehicle or other types of debt solutions in Toronto, Ontario. We also have offices in Markham, Barrie, Brantford, Hamilton, Oshawa, Pickering, St. Catharines, Brampton and North York. Call us at 1-800-268-8093 for more information.
Do you have any questions that you would like to discuss with our professional trustees? Fill out this form with as much information about your situation as possible. Or you can call Harris & Partners at 1-800-268-8093.