Bankruptcy Question & Answer Forum - Canada

Author:		TP
Date:		October 19, 2005
Question:		We have debt worth about 40,000. We have been making the minum payments which are getting us nowhere. We may be able to refinance our house and pay off some of these bills, but then our home equity is maxed out. Is this something that we should do or consider bankruptcy. I am not sure if we make too much money for bankruptcy. My husband and I both work and I have been working two jobs to keep up with these payments and feel like I can't do this much longer.
From:		Bruce, Alger & Associates Inc.
Date:		October 20, 2005
Answer:		There are a number of options besides declaring bankruptcy. These options are summarized on our website. I would advise you to sit down with a trustee and ask to have all your options explained in the context of your unique situation. Bruce Alger phone: (403) 296-2970 balger@alger.ca