My wife and I are considering bankruptcy. I am a teacher and I was wondering if it would affect my accreditation? Also, I have a computer that I use for work (lesson plans, etc.). Could the computer be considered as tools for income? I am up to date on my car payments as well as a secured loan from the Associates in which I have listed nearly all of my belongings (furniture, etc.) Is this exempt?

Declaring bankruptcy should not affect your accreditation as a teacher. Secured debts can usually be paid to retain the assets in a bankruptcy, if the secured creditor agrees to allow you to do so. The computer may possibly be claimed exempt and your Trustee would discuss this issue with you before you filed.

Ann Clarke
phone: (403) 296-2972
aclarke@moneyhelp.ca