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Bankruptcy Calgary Edmonton Q&A Forum

Question:

 

If I go bankrupt in Alberta and I have a lien on my vehicle and the lien is registered in BC is my car loan still considered a secured loan?


From:

 

Grant Thornton Limited

Date:

 

Dec 01, 2015

Answer:

 

Hi Ethel, If you had pledged the vehicle for a loan than it would be considered as a secured debt. We will review the registration of the lien when you decide to file for bankruptcy and discuss the rights of the bank and options to deal with the vehicle. Perhaps you can contact our office to discus the lien in question.

Susan Methuen
T 403-310-8888
susan.methuen@ca.gt.com

 

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