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October 2011 Weddings

NWR: Question for the lawyers

I have a legal question for any lawyers out there...

My father, when he died, had a car that is worth less than the loan. Rather than continue to pay for it, we want the bank to just come and repo it and write off the loan. But because the loan is higher than the value, are we responsible for paying anything?

Dad did have insurance (private insurance), but he owns no property (the house is in my mom's name) or have anything else of value.

Just wondering if my sister and I will have to pay for the car or not...

We're in Canada, so I know the laws may be different, but I wanted to get a general idea as I'm guessing things will be relatively the same. TIA

Re: NWR: Question for the lawyers

  • marrie11marrie11 member
    First Comment
    edited December 2012

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