Trustee in Bankruptcy 
Home > After bankruptcy > What you keep > Bankruptcy in New Brunswick English | Français

Bankruptcy in New Brunswick  

What assets are exempt?

Declaring personal bankruptcy in New Brunswick will not mean losing all your assets.  Many personal assets are “exempt” during a bankruptcy.  Exempt assets are the ones you are allowed to keep.  The property laws in New Brunswick will determine what assets are exempt.


New Brunswick bankruptcy exemptions are:

  • Furniture and household goods up to a value of $5,000 (or more, if prescribed)
  • The food, clothing, and fuel needed by you and your family
  • Tools of the trade up to a value of $6,500
  • One motor vehicle, if you need it for your work up to a value of $6,500
  • Necessary health aids
  • Your pets
  • Your pension plans
  • Items needed for religous services

If you are a farmer, you can keep:

  • Farm animals as specified
  • Six months worth of feed
  • Seed as per specified limits

 

  
Legal Privacy Sitemap Disclaimer

© Deloitte & Touche LLP and affiliated entities.

TM © 2006, VANOC.