What do I keep if I go bankrupt?

November 4th, 2005 by Questions

There are specific dollar amounts for what one may keep during bankruptcy, how are the values of individual items arrived at ? Replacement value, current value? Since the car is current I am assuming the same applies but you never know.


One Response to “What do I keep if I go bankrupt?”

, Barton Goth, GCO Inc. Bankruptcy Trustees said:

You are right that there are specific dollar amounts for the assets one is able to keep during a bankruptcy. These amounts are done at current value not replacement vale and vary from province to province. For information pertaining to specific property I suggest contacting a trustee in your local area (see “Find A Trustee” on the right hand side of this page) as he may be aware of local resources that may help you in determining the necessary amounts.

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