CIRP, Licensed Insolvency Trustee
Bruce Alger - Retired
CA, CIRP, Trustee in Bankruptcy
Grant Thornton Limited
833 - 4 Ave SW, Suite 900
Calgary Alberta T2P 3T5
6:30am appointments available in our Calgary downtown office on Mondays and Thursdays.
For these early appointments, take the elevator to the 9th floor and call 403-296-2984 so that someone can let you in. Lunch hour appointments are also available.
Choose a Trustee such as Grant Thornton Limited.
The Bankruptcy Trustee will help you prepare a Statement of Affairs which lists all of your assets, creditors, income, expenses, and other pertinent information.
After you file bankruptcy in Calgary, most creditors are no longer able to pursue you for collection of their accounts.
You may be requested to attend an interview with the Official Receiver who is a government official.
You will be required to attend two financial counselling sessions.
If you have any assets which you will not be allowed to keep (see Assets you can keep in bankruptcy), you will be expected to help the Trustee sell them.
You will report your income and expenses on a monthly basis to your Trustee. You may also be required to pay some money to the Calgary Trustee each month depending upon how much you earn, the size of your family and your circumstances.
You will be automatically discharged from bankruptcy in 9 months if this is your first bankruptcy and there are no objections. You will have no further obligations for the debts covered in your bankruptcy.
Your company, partnership, or business may also file bankruptcy or make a proposal if it meets the above requirements.
You should be aware that any unsecured creditor to whom you owe more than $1,000 could try to force you into bankruptcy. This is called a petition in bankruptcy. In this case, the creditor must prove that you have committed an act of bankruptcy, such as not paying your bills as they came due. The court reviews the facts and, if the petition is allowed, issues a receiving order which places you in bankruptcy with a trustee selected by the petitioning creditor.
No. In fact, personal bankruptcy in Alberta prevents your creditors from garnishing your wages and protects your income to ensure a reasonable standard of living.
Your employer was already contacted by your creditors so they could garnish your wages. In order to stop this wage garnishment, we will have no choice but to inform your employer of your bankruptcy. To avoid this, you should consider declaring bankruptcy before one of your creditors garnishes your wages.
When a person files an Assignment in Bankruptcy in Calgary or throughout Alberta, a portion of their take-home pay may be payable to the Trustee for the benefit of all creditors. The actual amount payable depends on several factors, including: the take-home pay of the family unit, the number of people in the family and whether the family has non-discretionary expenses such as child care or child support. Any questions you have with respect to surplus income can be addressed with the Trustee when you first meet with us.
Call us toll free in Alberta at 310-8888 for a free, no obligation, confidential consultation — in person Mon to Fri: 8am-4:30pm, over the phone Mon to Fri: 7am-5pm, Sat & Sun: 9am-3pm.
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