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Alger Bankruptcy Services


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Alger & Associates personal bankruptcy services are
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Edmonton, Calgary bankruptcy Q&A forum

Author:

 

Question:

 

i just went into bankruptcy.i sod my house had 55,000.00 equity i was told i was exempted for 20,000.00 had to pay my trustee 35,000.00, this 20,000.00 i can put in my account, is it protected, i was told it was but now i am hearing not . can you please let me know or give me more info on this exempton thank you.



From:

 


Grant Thornton Alger

Date:

 

Sep 28, 2013

Answer:

 

Hello, Yes, it is exempt. It is normally better to transfer your exemption into an exempt asset such as a downpayment on another home, RRSP's etc. If you have additional concerns, contact your Trustee and/or seek the assistance of a lawayer. Thanks for the question.

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

 

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