Question: Once bankruptcy is filed and the process has begun, what assets, if any, must be returned or relinquished?
Answer: If you go bankrupt in Ontario, you are permitted to keep one motor vehicle worth up to $5,650 (provided there are no liens or loans against it), as well as $5,650 worth of personal possessions, and $11,300 worth of furniture. Full information can be found in our article on what you lose if you file bankruptcy in Ontario.