Can a couple declaring bankruptcy keep their jewelry?
January 24th, 2014 by Questions
Can a couple declaring bankruptcy keep their wedding rings, or other pieces of jewelry with sentimental value?
Posted from: Alberta
One Response to “Can a couple declaring bankruptcy keep their jewelry?”
Please post a follow up comment below:
(Note: comments are reviewed by moderators and then posted after approval. In addition, due to high volume some of the comments might not be posted.)
You must be logged in to post a comment.
January 24, 2014 at 6:11 am, A licensed trustee said:
It literally depends on the value of the jewelry you want to keep. You are allowed a certain value of personal property – jewelry included – when you file for bankruptcy. If your rings are worth that amount or less you will be fine. If they are worth more than the allowed amount you can still keep them, but you may have to pay something extra into your bankruptcies.
Discuss this with your trustee BEFORE you decide to file.