Bankruptcy Exemptions in the province of Newfoundland & Labrador | Canada

Exemptions in Bankruptcy - Province of Newfoundland & Labrador:

tems exempt in a Bankruptcy / Consumer Proposal filing in the province of Newfoundland and Labrador are as follows:

  • Food, fuel, clothing, required by the Debtor and their family for a period of 12 months
  • Any medical or dental aids required by the Debtor or their dependents
  • Domesticated animals kept as pets and not required for business purposes
  • Clothing of the Debtor up to a value of $4,000.00 including family members' requirements
  • Household furnishings and appliances which are defined as washing machine, clothes dryer, bedroom suites and appliances; and required strollers, cribs and highchairs for the care of infant dependents. Total value of both requirements not exceeding $4,000
  • One Motor Vehicle with a maximum value of $2,000
  • Items of sentimental value not exceeding $500
  • Equity in the Debtor's primary residence totaling $10,000
  • Tools of the trade necessary for the Debtor to earn income from occupation or trade not exceeding 10,000

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