Will I lose my assets if I file for bankruptcy?

The Bankruptcy and Insolvency Act and provincial legislation may allow you to retain the following assets:

• household furniture and appliances;
• personal effects;
• tools required for your work, which may include your automobile if it is required to earn income;
• certain life insurance policies, RRSP's and pensions.

Bankruptcy does not prevent a secured creditor from taking back assets that have been specifically pledged as collateral for a loan.

This is your opportunity to eliminate your excessive debt. Visit any of the following resource centres for more info. Ottawa, Scarborough, Hull/Gatineau, Arnprior, Barry's Bay, Brampton, Brockville, Carleton Place, Cornwall, Kingston, Pembroke, Perth, Renfrew, Smiths Falls.