Bankruptcy Question & Answer Forum - Canada

Author:		Heather
Date:		October 25, 2005
Question:		What are the new qualications for bankrupcy?
From:		Bruce, Alger & Associates Inc.
Date:		October 26, 2005
Answer:		There are no new qualifications for bankruptcy in Canada. If you owe $1000 or more and cannot pay your debts as they generally fall due, you can make an assignment in bankruptcy. Having said that, it does not make sense to consider an assignment at such a low level of debt. Bruce Alger phone: (403) 296-2970 balger@alger.ca