Let Us Help You
LC Taylor has helped thousands of people to solve their debt problems, to stay out of debt and to save for a secure and comfortable future. Whether you’re facing job loss, wage garnishments or unpaid credit cards, we can help you explore your options and find the best solution for you.
Services
If you’re struggling to get out of debt, LC Taylor is here to help.
Trustees in Bankruptcy are the most highly trained and educated insolvency experts in Canada – and ours are among the best. We specialize in solving financial problems for both individuals and businesses. Our Trustees are licensed by the federal government to provide insolvency solutions.
With a combination of expertise in debt counselling and long-term financial planning, the Trustees at LC Taylor will not only help you get out of debt, but will help you plan your financial future afterward.
Credit Counselling
Credit Proposals
Bankruptcy
Estate Management
Answers
What can I keep in a bankruptcy?
A person who files for bankruptcy is allowed to keep any property that qualifies as exempt under provincial or federal legislation and that has not been given as collateral to the creditors.
Some Typical Manitoba Exemptions:
Household furnishings not exceeding a total value of $4,500 (note: this is resale value, not replacement value)
Tools of the trade not exceeding a total value of $7,500, includes:
One motor vehicle not exceeding the value of $3,000, if necessary as a tool of the trade. This includes a vehicle used to get to and from work
Equity in a home owned by the person who filed for Bankruptcy, to a maximum of $1,500 each, if in joint tenancy, or $2,500 if not in joint tenancy
Locked-in pension plans and RRSPs
Some life insurance policies
Manitoba Farmers’ Exemptions:
Animals necessary for farming operation for 12 months
Farm machinery and equipment necessary for the ensuing 12 months of operation
One motor vehicle if required in agricultural operations
One quarter section of land
Please contact us for a more detailed list of exemptions. Exemptions vary from one province to another. For Ontario exemptions, please contact our office.
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