Alberta bankruptcy and your car

Author:		anonymous
Date:		March 4, 2008
Question:		Me and my wife are going through a nasty divorce and there are kids involved. spent a year trying to settle out of court - agreeing to give her full custody, the home, everything in it - except for a few items and my car. That wasn't enough - so we wind up going to trial and the judge asked me to get my car appraised - so my wife could get her equity out of it and I did - the judge determined her equity in my car and made a judgment of 25.00 dollars a month paid to her until paid off - QUESTION: My wife is the primary on both of our vehicle's and i am the co signer - before the final judgment was written - my wife filed bankruptcy and included my car - can she legally do this when the judge already granted my car to me or is she in contempt??
From:		Karen Rideout, Grant Thornton Alger Inc.
Date:		March 10, 2008
Answer:		When your wife filed for bankruptcy she is required to list all of her creditors, If she is the primary borrower on the car loans she must list the creditor. If you are co-signer on the car loan the creditor can negotiate with yourself and her trustee for you to take over the payments. Gary Howitt phone: (780) 442-1983 Click here to submit a question to the Alberta Bankruptcy Q&A forum If you wish to talk to one of the Alberta bankruptcy professionals at Grant Thornton Alger Inc., you can call us TOLL FREE from anywhere in Alberta at 310-8888. After hour appointments at our Alberta bankruptcy offices are available. Contact our Alberta bankruptcy trustees for a free initial consultation

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