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can I keep my musicall instruments if I go bankrupt

I am a musician and sometime I make my living out of playing music at weddings and parties but thats not a full time job.

If I go bankrupt, do I get to keep these equipment. The total cost is about $4000.

Thanks

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One Response to “can I keep my musicall instruments if I go bankrupt”

Barton Goth, GCO Inc. Bankruptcy Trustees said...

When you file for bankruptcy in Canada what happens to your property is dependent on provincial regulations. For instance, if you file for bankruptcy in Alberta, as long as you can verify that you do receive some monies that are directly related to the use of your musical equipment, they would qualify as a tool of the trade exemption. For more details on the exemptions in each province you can either follow the link or licensed trustee in your area and he will be able to review all the pertinent information for you.