If you're having financial difficulties and live in the Scarborough area, call (416) 730-8060 today to meet with one of our experts, or complete the ask a question form to send us a message and we'll get in contact with you.
Do I Lose All My Assets If I File For Bankruptcy?
In Ontario, there are laws which allow you to keep some basic assets:
$5,000 worth of clothing and personal effects
$10,000 worth of household furniture
a car, as long as its value is less than $5,000
$10,000 worth of "tools of the trade" - items you use to earn a living
Certain types of life insurance
When we conduct a detailed analysis of your financial situation, we will advise you as to which assets you will be able to keep, and what you might lose if you file for bankruptcy.
But did you know that if you file a proposal you maintain control over all your assets?
We will explain how this works to you during your consultation.
Please call or e-mail us today, and we will walk your through your options in more detail.
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