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Alger Bankruptcy Services


Same team, new name

Alger & Associates personal bankruptcy services are
now provided by
Grant Thornton Alger Inc.

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Edmonton, Calgary bankruptcy Q&A forum

Author:

 

Jesca

Question:

 

If I file bankruptcy can I loose my home and car?



From:

 

Alger & Associates Inc.

Date:

 

May 04, 2013

Answer:

 

Jesca No you will not loose your home or your car. If your home is subject to a mortgage, you need to continue with the mortgage payments to the financial institution. There is an exemption of $40,000 for equity in a home, accordingly if the equity in your home is less than $40,000 you keep it. If your equity is more than $40,000, you will be required to pay the surplus equity to the Trustee over time. There is also an exemption for equity in a personal vehicle of $5,000, if you have a car loan or lease you must continue with these payments. Please call me and i would be happy to discuss this with you. Thanks for the question.

Marie Kozlowski
T 403-296-3082
Marie.Kozlowski@ca.gt.com

 

For Alberta Bankruptcy help, call TOLL FREE from anywhere in Alberta: 310-8888
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