Can I keep my car & boat during a bankruptcy or consumer proposal?
Yes, certain assets are exempt from seizure by the trustee in bankruptcy such as a car (value $5,650.00) and other assets (boat, snowblower, ATV, snowmobile) may be covered by the personal possession exemption of $5,650.00.
Even if the value of the assets exceed the exemption limit, many individuals have the option to pay the trustee the excess value, over the exemption, and keep the asset.
Contact Rumanek & Company Ltd. for more information on bankruptcy and debt solutions. Or please fill out the free bankruptcy evaluation form. To learn more please visit our YouTube Channel. Rumanek & Company have been helping individuals and families overcome debt for more than 25 years.
