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/Tag: Debt

Statute of Limitations on Old Debts

I’ve Been Told A Creditor Cannot Collect On An Old Debt Is This True? In certain circumstances, this is true. The ability of a creditor to legally pursue collection for an old debt has some limitations by Provincial Law which can vary from province to province. In Alberta, the Limitations Act, in general, prevents a [...]

2019-09-21T04:44:28+00:00Uncategorized|

What Do I Need To Do To Deal With My Debts And Get A “Fresh Start” ?

When The Debts Are Piling Up... Most people with a financial problem actually have 2 problems; They spend more than they make, and Their debt load is out of control Both problems have to be fixed before your problem is cured. Try this: Item 1) - write down the sources and amounts of your monthly [...]

2019-09-21T00:48:29+00:00Uncategorized|

Do I Have To Disclose All Debts In A Proposal Or Bankruptcy?

When a consumer proposal or bankruptcy starts there is immediate protection from the collection action of all unsecured creditors against the debtor. To get this protection, certain things have to be provided to the Licensed Insolvency Trustee (“LIT”) so that necessary paperwork can be prepared, signed by the debtor and the LIT, and submitted to [...]

2019-05-31T22:19:54+00:00Bankruptcy, Consumer Proposal|

What Is A Consumer Proposal? Is It A Good Idea?

Are you looking for affordable debt resolution? Many residents of Edmonton and Alberta are faced with the problem of unmanageable debt. It is important to know that there are multiple solutions. If you are struggling with your debt and are unsure of where to turn, Goth & Company can show you what options are available [...]

“Bankruptcy” is not just “bankruptcy”

Bankruptcy is commonly used to describe one of the government law processes available in federal legislation known as the Bankruptcy and Insolvency Act (BIA). The BIA  regulates the options available to deal with businesses and individuals experiencing financial difficulties. Only Licensed Insolvency Trustees (Trustees) are allowed to administrate the options in the BIA. Individuals seek [...]

2019-09-20T23:24:04+00:00Bankruptcy, Consumer Proposal|

A Collection Agent Has Been Calling Me Threatening To Seize My Furniture

Can They Do That? There are two general types of seizures when a debt is not paid; A seizure by a secured creditor on the asset the creditor holds for security such as a vehicle. A secured creditor has a security agreement which is a type of written contract signed by you and the creditor, [...]

2019-03-12T13:49:52+00:00Uncategorized|

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 [...]

2019-03-04T16:44:31+00:00Bankruptcy|

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 [...]

2019-03-04T17:13:14+00:00Bankruptcy, Consumer Proposal|