Learn how car loan defaults and repossessions work in Ontario. This video explains what happens when borrowers fall behind on payments, outlining how financing agreements allow lenders to repossess and sell vehicles to recover debts. It covers the difference between voluntary and involuntary repossession, the costs borrowers may still owe after a sale, and how these situations can affect credit scores. Viewers will gain a clear overview of what steps can be taken to minimize losses, communicate with lenders, and understand their rights and obligations during the repossession process in Ontario.

Toronto bankruptcy and insolvency lawyer Alex Shchukin‘s practice focuses on bankruptcy and insolvency litigation, with experience supporting institutional creditors in matters involving unsecured debt, judgment enforcement, mortgage defaults, and proceedings under the Bankruptcy and Insolvency Act.

For litigation support, contact Alex at 416-446-5099 or alex.shchukin@devrylaw.ca.