Joint bankruptcy assets
March 9th, 2007 by Questions
My spouse and I are considering joint bankruptcy. We live in Ontario. I know there are some exempt assets we can keep if we file.
We don\’t own much. All our assets together don\’t add up the the individual limit (we own about $4000 worth of assets in total – mainly in furniture) but I am curious. If we file jointly are the limits the same as for individuals, or are they double? For example, if we each own clothes worth $5650, are we jointly allowed to keep $5650 in clothes, or $11,300?