what will you loose

October 22nd, 2008 by Questions

will you loose personal items..like furniture?

Posted from: Ontario


One Response to “what will you loose”

, A licensed trustee said:

In Ontario you are allowed to keep furniture worth up to $11,300 if you file for bankruptcy – I have only every met one client whose furniture was worth more than that so you should be ok.

I should warn you that if you have pledged the furniture as security for a loan, this exemption does not apply. The folks that hold the loan have the right to take your furniture if you don’t pay them.

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