2025-09-04
Will Bankruptcy Erase All Of My Debt?
Bankruptcy
The intention of Canadian bankruptcy law is to provide honest and overextended debtors the opportunity for a financial fresh start.
2010-02-05
When filing for bankruptcy, your allowable asset values are the same whether you are married (with or without children) or single. In British Columbia, an individual filing for bankruptcy is entitled to keep the following assets:Essential clothes you and your dependents need.Household furnishing and appliances up to $4,000 in value.Equity in one vehicle up to $5,000 (or up to $2,000 if you are behind on child family support payments).Tools and other assets (up to $10,000 in value) you need to earn an income from your work.Medical and dental aids you or your dependants need.Equity in your principal residence (up to a $12,000 value if you live in Metro Vancouver or Victoria, or $9,000 for the rest of the province).RRSPs – in some cases, you keep the full amount; in other cases, you keep the full amount except for contributions made in the past 12 months. Note that when you file for bankruptcy, only your personal assets are counted in the bankruptcy. Feel free to email or call me directly if you have any other questions about this. Regards, Lana Gilbertson, Trustee MNP – Vancouver 604 637 1599
2025-09-04
Bankruptcy
The intention of Canadian bankruptcy law is to provide honest and overextended debtors the opportunity for a financial fresh start.
2025-09-02
Lifestyle Debt Debt Solutions
You already know the many benefits of skilled money management. The fact you’re reading this blog post says at least that much. Your challenge, like for most households, is how to navigate the seemingly infinite demands on your frustratingly finite income.
2025-09-02
Lifestyle Debt
Have fun on a budget with our guide to affordable activities in Atlantic Canada.