Search site             Home line  About us line  Contact us line  Ask an expert   line  Forms line  Corporate recovery      

Alger Bankruptcy Services


Same team, new name

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

Receive a callback from one of our bankruptcy and debt help experts

 

Bankruptcy Calgary Edmonton Q&A Forum

Question:

 

If I have a civil suit pending for a canadian who owes $7k and has signed a promissory note, if she files for bankruptcy, do I have any chance of getting the money she owes? Would she have to repay the debt after the bankruptcy lifts? Can I still garnish her wages if she files bankruptcy? What precautions are put in place so she can't claim bankruptcy just to avoid this debt?


From:

 

Grant Thornton Limited

Date:

 

Apr 16, 2015

Answer:

 

Hi Sue, When an individual files for bankruptcy all of the unsecure debts are included with bankruptcy. This includes civil claims for a monetary repayment of a promissory note. There is a stay of proceeding which prevents collection from creditors during a bankruptcy. Once the individual receives an automatic or absolute discharge then the bankrupt is released from the debts outstanding at the date of bankruptcy. This will prevent garnishment of wages after their discharge. As a creditor you may recover a portion of what is owed to you through the realization of the Bankruptcy. The recovery is based on the individualís financial circumstance. If you have any questions or concerns you can contact the Trustee responsible for the filing and they would be happy to assist. Unfortunately, there are no precautions that can be taken to prevent a person from filing a bankruptcy.

Susan Methuen
T 403-310-8888
susan.methuen@ca.gt.com

 

For Alberta Bankruptcy help, call TOLL FREE from anywhere in Alberta: 310-8888
We're here until 9 PM weekdays and 9 AM to 4 PM on Saturday to take your call

 

 

All locations
310-8888

© 2011 Grant Thornton Limited • All rights reserved


back to Bankruptcy Alberta home

Confidential callback from a bankruptcy professional

Please call me

As soon as possible
Today at
Next business day at

My Phone # 

Extension  

Ask for  

×

×