Questions for Personal Bankruptcy in Alberta (Canada) only.
This service is not intended for individuals who are already in bankruptcy or who have filed a proposal. Note that if you are in bankruptcy you should contact your trustee. If you cannot resolve matters with your trustee, you might want to contact the Office of the Superintendent of Bankruptcy who are the federal regulators resopnsible for licencing all bankruptcy trustees in Canada.
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Recently posted questions and answers:
I have been unemployed for almost three years. I have exhausted my RRSP,s and have a credit card debt of approximately $ 100.000 I own my house mortgage free . I will be turning 55 years old in the spring of 2017 . What assets are exempt in a bankruptcy ? is a reverse mortgage possible ? I have several old vehicles , which are only worth something to me or have more invested than what they would be able to sell for . Are only registered vehicles considered assets ?
If my budget is less than my UNION PENSION and my CPP (early retirement)will the trustee seize the difference and apply it to my debts? Is the Trustee fee paid from the cash on hand or is it applied against my monthly income as stated above? My car is 22 years old. If I replace it before filing for bankruptcy, can the Trustee seize it and sell it?
Under a Consumer Proposal of both husband and wife are both required, according to Bankruptcy law, have to reside in the matrimonial home (their principal residence) during the completion of the Proposal's term?
If parents decided assist in helping to make mortgage payments to a child in Bankruptcy would he/she have to declare that as income in their monthly reporting? Thereby increasing their surplus income? Under an approved Consumer Proposal with no monthly reporting they would not have to report this and not affect the payment schedule??? Thanks
I am getting divorced and my ex wife had a credit line in her name only which we both used. After separating we agreed that I would pay half and she obtained a consent order that I pay for half the credit line. If I were to declare bankruptcy would this be discharged as there is an order in place that I pay the debt. My understanding is that it is considered unsecured debt as I owe her the money. Would I be on the hook for the money or would this debt survive bankruptcy? Thanks in advance
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