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Mr K.

Hi.I am about to file for bankruptcy and I don`t have any valuable assets ,but I have a lots of books ,dvds and VHR tapes that I have been collecting for a long time.I was wondering ,could I lose them or could they take them if I file for bankruptcy?I am on social assistance and my sister would pay for the trustee.Thank you .ALL THE BEST

Posted from: Ontario

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One Response to “Mr K.”

Barton Goth – Goth & Company Inc. -Trustee in Bankruptcy said...

This all depends on what the resale value of all these items is going to be. Each provinces permits a debtor to avail themselves of a set of exemptions or property that is protected when one files. The best thing for you to do is to estimate what you think you would get from these items and then contact a local trustee. They together you will be able to discuss these exemptions and whether or not any of these items are at risk, but from the sounds of it I don’t think you have to worry to much as typically books, dvds and VHS tapes, unless they are very specific collectors items, don’t have much of s resale value.