Bankruptcy Question & Answer Forum - Canada

Author:		Anonymous
Date:		Dec 13, 2006
Question:		I have a lot of credit card debt in Canada, I did live alberta at the time but now reside in Mexico. I have been trying to make the payments for the last three years but find I am no longer able to do so. I would like to know if I can declare bankruptcy from mexico and what would be entailed and what costs would be involved.
From:		Alger & Associates Inc.
Date:		Dec 21, 2006
Answer:		You will still be eligible to make an assignment in bankruptcy or file a proposal under the Bankruptcy and Insolvency Act in Canada provided that within the past year you a) resided in Canada, b)carried on business in Canada or c) if the majority of your property is located in Canada. If these conditions do not apply, but the bulk of your creditors are located in Canada, you may still be able to make an assignment in bankruptcy in Canada. I encourage you to complete the Debtor Information Form, which can be accessed from the home page of our website and submit it to our office. We can then review all of your options with you, discuss the processes and any costs involved. Vanessa Grant phone: (403) 296-2977 vgrant@alger.ca