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Declaring Bankruptcy

If you are reading this page, chances are you've been struggling with your finances for some time. So, you may be surprised when you read this: Good News! Gathering accurate bankruptcy information is the best thing you can do right now. The future may not be as bleak as you may have imagined. Yes, you [...]

By | October 10th, 2016|Bankruptcy|0 Comments

Supreme Court finds that Alberta Traffic Safety Act is not allowed to withhold a license after bankruptcy.

A long standing issue for Alberta debtors has been addressed by the Supreme Court of Canada today. The Supreme Court of Canada has ruled that debts owing as a result of compensation form Section 102 of the Alberta Traffic Safety Act do not apply if a debtor is discharged from a bankruptcy. What does this [...]

By | November 13th, 2015|Bankruptcy|Comments Off on Supreme Court finds that Alberta Traffic Safety Act is not allowed to withhold a license after bankruptcy.

Bankruptcy Canada Interview with Goth and Company

Bankruptcy is a scary word, and an even scarier situation for Canadian’s who don’t have a clear understanding of what it can mean for their future. To help clear up common misconceptions and provide a better understanding of the help available to those in financial confusion, Bankruptcy-Canada conducted an interview with second-generation Trustees Barton Goth [...]

By | October 26th, 2015|Bankruptcy|Comments Off on Bankruptcy Canada Interview with Goth and Company

Tax Debt – Deadline Approaches

Tax Deadline is Approaching It’s that time of year again. Tax time always seems to cause a high degree of stress and anxiety for Alberta Residents.  Actually, the stress is specifically associated to those individuals that don't receive a tax refund, those of us that have a tax balance owing. Even if you have tax deducted at your place [...]

By | March 16th, 2015|Bankruptcy, Consumer Proposal, Uncategorized|Comments Off on Tax Debt – Deadline Approaches

RESP In Alberta Soon to Be Protected if you file for Bankruptcy

Great News! The Alberta Government takes huge step forward as they move to protect the future of Alberta’s children. RESP in Alberta.  Right now the Alberta government is in the process of amending the Civil Enforcement Act of Alberta to make Registered Education Savings Plans exempt property. What this means is that when these legislative [...]

By | February 6th, 2014|Bankruptcy, Student Loans|0 Comments

Credit card during Bankruptcy?

Credit during Bankruptcy When you file for bankruptcy  you are not able to keep any existing credit cards.  One of your duties as part of a bankruptcy is that you must either destroy or turn any credit cards that you have over to your Trustee when the bankruptcy is filed.  Those accounts will automatically be [...]

By | December 5th, 2013|Bankruptcy|0 Comments

Bankruptcy and the filing of taxes

Bankruptcy and Taxes People are often confused when it comes to filing of taxes during bankruptcy. When you file for bankruptcy the way your taxes are done changes. The biggest change is that you will have to have two tax returns done for the year you file for bankruptcy. Essentially what happens is that [...]

By | November 25th, 2013|Bankruptcy|0 Comments

What happens to my spouse if I file for bankruptcy?

In most cases the answer to this is that there is nothing that will happen to your spouse if you file for bankruptcy. The way the law works is that the only way you are legally responsible for a debt is if you signed on the debt. Simply being married or common law has no [...]

By | August 7th, 2013|Bankruptcy|0 Comments

Does a bankruptcy mean I lose everything I own?

In most cases, this couldn't be further from the truth.  Most people are able to retain most everything that they own. What happens is every province has created a list of exemptions.  What an exemption means is that as long as the property you own falls within the exemptions available in your province, then you [...]

By | June 7th, 2013|Bankruptcy|0 Comments