Bankruptcy Question & Answer Forum - Canada

Author:		Anonymous
Date:		Dec 20, 2006
Question:		I am a Canadian citizen living in the US and waiting for my US Immigration papers to go through therefore am unable to work at this point in time causing my debt to build up to the point that I can no longer make the monthly payments to my credit card companies, what options do I have???
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. There may also be other options available to you such as making an informal proposal to your creditors. Please feel free to contact our office to discuss your situation and the options available to you. Vanessa Grant phone: (403) 296-2977 vgrant@alger.ca