Bankruptcy Services of Collins Barrow Limited - for Calgary and Edmonton, Alberta

Author:		Kinerski
Date:		March 21, 1999
Question:		Both my wife and I are considering bankruptcy. We would like to know about the exemption amounts...ie. $4000 furniture and appliances and $4000 personal items. Would we both have these exemptions (thus adding up to $8000) or would we only be eligible for a total of $4000?


From:		Shane Brenneis, Collins Barrow Limited
Date:		March 27, 1999
Answer:		The $4000 furniture and appliances is for each person. The $4000 personal items is for the family unit. All items are estimated at garage sale or auction prices as this is the value you would get if sold. These are the exemptions for Alberta. Each province has their own exemptions. If you need a free assessment of your financial concerns, you should contact a Trustee in your area by looking in the yellow pages under "Bankruptcy". If you have any further questions or want to come in for a free assessment to our office, please call or email me using the information below. Shane Brenneis (403) 298-1575 sbrenneis@collinsbarrow.com