October 22nd, 2008 by Questions
will you loose personal items..like furniture?
Posted from: Ontario
October 23, 2008 at 7:29 am, 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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