What assets are protected in Canada?

Assets such as a house, car, and certain investments such as RRSPs are either fully or partially exempt in bankruptcy. How much or what you can keep is subject to the exemption amounts in the province where you file bankruptcy.

For example: if the exemption limit for a vehicle in Manitoba is $3000, that means that IF it were sold, the total car worth must be less than $3000 or you may need to (a) pay the cash difference to your trustee or (b) surrender the car.