I went bankrupt in Red Deer in March and I lost my job last month. I wasn’t able to make my car payment. It was either my rent or the car. I owe more on the car than it is worth. Can I let it go back and what will happen if I do?
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Car Reposession after Bankruptcy
Posted on November 29, 2011 in Liabilities/Debts
Tags: Reposession Advice
- Answer: It appears that you have continued the contract after bankruptcy by making your payments. In making post bankruptcy payments you have re-affirmed the contract, in otherwords agreed to be respnsible for it again. Depending on the nature of the original contract signed by you, you run the risk of being responsible for any costs and any loss suffered by the lender if you surrender or let it go back now. In order to better advise you, we would need to see the actual contract?
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