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Answer: The answer depends on the lender. Some lenders have a policy that if you go bankrupt and your car payments are up to date, you are allowed to keep the car and keep making the loan payments. Other lenders automatically repossess your car if you file bankruptcy, even if the payments are up to date.
To further complicate matters, there are new bankruptcy rules that may become law in 2009 that may change these procedures.
Given these complexities, we strongly recommend that you contact a licensed Saskatchewan bankruptcy trustee to review your situation and give you specific advice.
Labels: bankruptcy
posted by Questions @ 6:53 PM
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