Recommended resource:

https://bankruptcy-ontario.org/

1.Under the Execution Act Ontario, some property is exempt from being seized or a portion of the value is allowed to be retained from the bankrupt (assets you can keep).

See: What do you get to keep if you go bankrupt?

2.If I file for bankruptcy, will I lose my house?Explain!

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3.Is there a cost to filing bankruptcy?See: What do you lose if you go bankrupt?Costs of going bankrupt

a)What are base costs and what is the minimum period for a first-time bankruptcy?

b)Do I get to keep any tax refunds during my bankruptcy?

4.List 5 reasons why a consumer proposal may be better than bankruptcy?

https://bankruptcy-ontario.org/avoiding-bankruptcy/consumer-proposals/

5.How long does bankruptcy affect my credit ratingvsa consumer proposal?

http://bankruptcy-ontario.org/bankruptcy-advice/long-bankruptcy-affect-credit-report/