Want to create an interactive transcript for this episode?
Podcast: DebtMatters Podcast
Episode: 67 - Canadian Laws for Repossession: Dealing with Car Loan Debt and Vehicle Repossession
Description: During the pandemic the demand for vehicles was high when interest rates dropped to record lows. Fast forward to the present where interest rates and fuel costs have risen sharply. In Canada, defaults are rising as repossession activities are back in full force. What happens when you can’t make your vehicle payments? Should you or can you just surrender it and walk away? Licensed Insolvency Trustee, Daniel Maksymchak, answers these questions and explains the Canadian laws for repossession. Daniel also covers:The consequences of financing a vehicle over a long period of timeDealing with negative equi...