Bankruptcy Exemptions in Newfoundland and Labrador

Judgment Enforcement Act

Statute: Click here to read the Judgment Enforcement Act

Regulations: Click here to read the Regulations

Exempt Property

1. food required by the debtor and his or her dependents during the next12 months.
2. necessary clothing of the debtor and his or her dependents that isof a value not exceeding $4,000.
3. household furnishings, utensils, equipment and appliances that areof a value not exceeding $4,000.
4. fuel or heating as a necessity for the debtor and his or her dependants.
5. one motor vehicle of a value not exceeding $2,000.
6. medical and dental aids that are required by the debtor and his orher dependents.
7. items of sentimental value to the debtor that are of a value not exceeding$500.
8. domesticated animals which are kept as pets and not used for a businesspurpose.
9. the principal residence of a debtor that is of a value not exceeding$10,000.
10. personal property used by and necessary for the debtor to earn incomefrom his or her occupation, trade, business or calling to a value not exceeding $10,000.
11. where the debtor’s primary occupation is farming, personal property,including agricultural products, ordinarily used by and necessary for the debtor to earn income from farming to a value not exceeding $10,000.
12. where the debtor’s primary occupation is fishing, personal propertyordinarily used by and necessary for the debtor to earn income from fishing to a value not exceeding $10,000.
13. where the debtor’s primary occupation is aquaculture, personal propertyordinarily used by and necessary for the debtor to earn income from aquaculture to a value not exceeding $10,000.
14. certain income.
15. certain pension plans.

What do I do now?

For more information on bankruptcy exemptions in Newfoundland and Labrador, and what you get to keep if you go bankrupt in Newfoundland and Labrador, please consult a Newfoundland and Labrador bankruptcy trustee.