What can I keep if I file bankruptcy? It is always suggested to refer to your licensed insolvency trustee Regarding specific items you can keep and each bankruptcy is a case-by-case issue. However, you can retain certain property and assets when you file for bankruptcy in some provinces you are allowed to keep certain personal items for example clothing, jewelry, tools Sports equipment and furniture up to ten thousand dollars in addition if you happen to own your car outright It may be possible to keep it if it is worth less than five thousand dollars Remember all registered retirement savings plans RRSPs are protected and cannot be seized However, it is important to note that any contributions made to an RRSP in the 12 months leading up to the bankruptcy will be seized To learn more please visit our website www.rumanek.com