Bankruptcy Exemptions in Vancouver British Columbia

Assets listed as bankruptcy exemptions in Vancouver British Columbia are the assets you will be allowed to keep in a personal bankruptcy in Vancouver. Here is a list of items marked by the provincial legislation as exemptions in bankruptcy:

  1. Essential clothing for you and your family. The value is unlimited.
  2. Household furnishings up to the value of $4,000.
  3. A vehicle in value of $5,000. If you are a debtor under the Family Maintenance Enforcement Act, the value is $2,000.
  4. Tools of trade in value of $10,000. This includes any items used to earn income.
  5. Equity in your principal residence in the Greater Vancouver Regional District (GVRD) in value of $12,000
  6. $9,000 if your principal residence is outside the boundaries of the GVRD.

For a complete list and more detailed explanation of bankruptcy exemptions in Vancouver, British Columbia please contact a bankruptcy trustee near you.

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