You may also wish to submit a question to our online Alberta Bankruptcy Q & A Forum
If you are in Alberta and considering bankruptcy, we will be pleased to arrange a FREE consultation to talk about how you can start picking up the pieces.
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You can also begin your Alberta bankruptcy application by applying online. Fill out our secure online Alberta Personal Bankruptcy Form. The information you give us will help us to assess your financial situation and determine your best course of action.
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What is Bankruptcy?
Briefly, the steps are:
Choose a Canmore Bankruptcy Trustee such as Alger & Associates Inc.
The 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, most creditors are no longer able to pursue you for collection of their accounts.
You may be requested to attend a bankruptcy 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 Will I Lose Everything?), you will be expected to help the Trustee sell them.
You will report your income and expenses on a monthly basis to the Trustee. You may also be required to pay some money to the 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.
This site provides free information about personal bankruptcy in Alberta and personal bankruptcy alternatives in Alberta, including answers to common personal bankruptcy questions. This site is sponsored by Alger & Associates Inc. - Calgary Bankruptcy, Edmonton Bankruptcy, Red Deer Bankruptcy, Sherwood Park Bankruptcy, Canada Bankruptcy.
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