A new development. One of my riding pals is thinking about buying my bike and ensure it for other riders. I pay the insurance and the sale is under the condition I buy back the bike. He owns 3 Harleys and hates the thought I do not ride this summer due to my financial setback. He's thinking it over and will let me know later after he speaks with his insurance agent.

If he doesn't feel comfortable I have another riding pal who will do the same. He rides a Harley also. I have been riding with these guys for the last 4 years.

They are great guys and very experienced and have a huge passion for riding. I was supposed to ride to the states with them last year but have no passport. They were surprised that I have to sell the bikes, but the law is the law.

This way I will not lose the 2003 108ci.

The bottom line is the trustee needs a paper trail for accountability with no fraud. I do not know of any laws stating I cannot purchase something I sold after I get a discharge.

Are you going to have to file personal bankruptcy or business bankruptcy or are they one in the same in Canada?

Here in the states, at least in New Hampshire, they are separate entities if set up properly.

Back in 2008 when the economy crashed here, I almost had to file for bankruptcy for my business, but my personal life was protected because the the business is incorporated. Actually it's an LLC (Limited Liability Corp). As long as my business books were in order (no funny business), anything I owned personally could not be attached. Fortunately I was able to get rid of 90% of my business overhead and with the help of my vendors and loyal customer base, I was able to pay off my vendors, keep the majority of my customers happy and a roof over my head until the construction industry finally turned around.

I did sell some of my bikes at the time as I needed the money, but is was my personal money, not business money, so it was mine to keep.

This one is a personal bankruptcy. My pal got cold feet about me riding the bike in his name and insurance. Got another pal and see if he will help. Going to ask the trustee if I hand the money over for the bike's black book value if I can keep it in my name. If I can keep one of the two I'll be a happy camper. Because the asset is of such low value and hard to sell especially this time of year, they would get spit for it if it is auctioned off.

I should have a solid game plan within the week or so.

Hey D.O., sorry to hear about your situation. My apologies if this has already been addressed, I just skimmed this post, but have you spoken to an attorney yet? If not, PM me.

Best of luck.

Doc_V