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Debt solutions for car loan debt

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Debt solutions for car loans

If you have filed for bankruptcy or a consumer proposal and you have outstanding finance or a lease agreement on your car, we can help you keep your car as long as your car payments are up-to-date.

A Licensed Insolvency Trustee (or what was formerly called a Trustee in Bankruptcy) can take a look at your budget and determine whether you have enough funds to continue to service your car loan. If you cannot keep up with lease or financing payments, you may want to consider returning the car to the lender and looking for a less expensive alternative.

But before you take such action, we recommend that you speak with a specialist. You may be able to take advantage of debt consolidation options which are widely available, and we may be able to recommend a solution which will help you keep your car finance record on track.

There may be options which can reduce your monthly payments, but extend the term of your car finance agreement yet have little impact on your credit rating, and we can talk through these with you.

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Is your car financed or leased?

At the date when you enter into bankruptcy or a consumer proposal, you have two options with a car that is leased or financed. You can:

  • Keep the car and continue the payments
  • Return the car to the lender

Motor vehicles worth less than $5,650 cannot be made the subject of an agreement to continue making finance payments. The trustee uses the black book to establish the value of the motor vehicle. If its value is $5,650 more than your loan, you can make arrangements with your trustee to buy back the car.

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Car loan debt - what are my options?

  • Bankruptcy for car loans
  • Consumer proposal for car loans
  • Financing a car outside of an insolvency proceeding

Our Debt Management Solutions

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Support across Canada

Why Harris & Partners

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Remove up to 80% of your debt

Our Licensed Insolvency Trustees provide a customized service that could remove up to 80% of your debt and stress, so you can breathe easier.

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We speak your language

Our multilingual team provides support in many languages, from Farsi and Portuguese to Italian and Tamil, leaving out complicated jargon, so you understand everything, every step of the way.

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Debt support across nine provinces

Want to speak to someone in person? Our team is on hand to help at a Harris & Partners office near you.

Find your car loan debt solution with Harris & Partners

Whether you’ve filed for bankruptcy, are looking into consumer proposals, or just need trustworthy advice, we have you covered. Our Licensed Insolvency Trustees can help you keep your car (as long as payments are up to date), and support you in finding the best debt solution for you.

Take the first step towards financial independence and contact our specialists today.

Contact information

It's never too late to obtain debt help. Book your free consultation today

Phone number
888-376-8488
Email
hello@harrispartners.ca
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Shahrad Nakhaie
Shahrad Nakhaie
2022-12-23
They are so great, every thing was so easy for me. Unbelievable, All my debt are gone now and I feel like I'm free, thanks Osman Ali for all you did for me, at the first time it's even hard to believe that was real, but it's real and easy. Thank you bro for your help.
Cody
Cody
2022-12-06
Osman is a professional and you cant find anybody better. He really cared about my situation and paid attention to every little detail so he can help me best. Thank you osman and the rest of the team for helping me through my struggles.
Banda Gueye
Banda Gueye
2022-10-29
Osman is a vert nice gentlemen, he was polite sweet and gentle. He really cared about my situation and paid attention to every little detail so he can help me best. Thank you Osman and the rest of the team for helping me through my struggles.
Kim Brown
Kim Brown
2022-08-29
So far this has been a great company, I have been with them over a year. Every time I have an issue Josh jumps right on it and helps me out. He never makes me feel like I'm being a pain in the butt 🙂 I definitely recommend them, I have referred two of my family members to get help and now Josh is helping them as well. I thank you Josh for all the hard work and responding so quickly to all my messages.⭐️⭐️⭐️⭐️⭐️
Ajanthan Murugananthan
Ajanthan Murugananthan
2022-04-28
Staff members Samuel and Josh were both amazing. Both very friendly, professional, and efficient. They took care of my credit card issues and line of credit and made it manageable. I would highly recommend Harris & Partners Inc. They have given me a new life in my financial life to success.
Paul Woo
Paul Woo
2022-03-01
Staff members Yasan and Josh were both amazing. Both very friendly, professional, and efficient. They took care of my credit card issues and made it manageable. I would highly recommend Harris & Partners Inc.

Car Loan Debt Relief Across Canada: Local Expertise, National Reach