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photographic equipment

I`ve recently had to drop out of school due to debt and issues regarding finance… Those issues compounded themselves recently and I am now forced to consider bankruptcy.

My question is will I get to keep my photographic equipment so that I may pursue a career in the future, or will those equipments be foreclosed upon since I have no yet found work in the field?

The equipment in question is a set of cameras, laptop computer and storage devices for photographs.

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One Response to “photographic equipment”

Barton Goth GCO Bankruptcy Trustees said...

While I can not provide a definitive answer as the answer will largely depend on the specific exemptions available within the province you file.

However, in general terms, most provinces have a tools of trade exemption available and in most instances to be able to claim this exemption you have to be able to demonstrate that you currently use that property to earn income. If the property is not used currently to earn income then you typically are not able to claim those items as exempt.

Now there are some variations in this from province to province so you are best to consult with a local trustee to confirm exactly how things operate in your jurisdiction.