What Happens to My Car in Bankruptcy?
How Bankruptcy Impacts Your Vehicle
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Can I Keep a Leased Car in Bankruptcy?
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Liens Against Your Car
What if I Have Clear Title (No Liens) Against my Car?
If you own your car free-and-clear you will have the chance to pay the trustee the fair market value of your car and you will be able to keep your car in bankruptcy or, if you are unable or do not want to pay the fair market value, you will have to surrender your car to your trustee who will sell the vehicle and distribute the funds to your creditors who are listed in your bankruptcy. If you still have questions about keeping your car in bankruptcy you can schedule a confidential meeting with a trustee to discuss everything about bankruptcy and your car.What if my Car is Leased?
If you have a leased car in bankruptcy you might be able to keep the car if you would like to do so. You can keep a leased car in bankruptcy if you are able to maintain the payments. You also have the option of including the car lease debt in bankruptcy and surrendering the car to your trustee.BANKRUPTCYCANADA
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