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Alberta Bankruptcy Question & Answer Forum


Author:

 

Anonymous

Question:

 

How are the values of household items determined? What happens to the items (clothing, furniture or appliances) that the non-bankrupt spouse purchased on non-joint accounts or credit cards?



From:

 

Alger & Associates Inc.

Date:

 

Dec 09, 2008

Answer:

 

The value is determined by re-sale value and an exemption set by the Civil Enforcement Act of Alberta. If a non-bankrupt spouse purchased items then I would assum the account was joint and that that individual is responsible for the debt. How else would the individual have access tomake the purchase.


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