Bankruptcy with no assets?
I have almost no real assets besides some furniture, a tv, dvd player and some videos and clothes. If I file for bankruptcy what happens? I own noting of real value such as a car or home, can I still file? Will it be expensive?
If you go bankrupt you don’t lose basic household goods, unless they have significant value, or there is a lien on them from one of your creditors. Based on what you have said it does not appear that you would lose your assets, however you should contact a licensed trustee to review your situation and advise you further. They will also explain the cost of bankruptcy, which depends in part on your monthly income.
Do you loose your car if it is paid for in a personal bankruptcy if it is the only thing you own of value?
If the car has no liens or loans against it, and it’s not a very valuable car, than in most cases you would not lose it if you went bankrupt. However, the rules are different in each province, so you should contact a local trustee for further details.