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Alger Bankruptcy Services


Same team, new name

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

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Bankruptcy Calgary Edmonton Q&A Forum

Question:

 

What assets can you have


From:

 

Grant Thornton Limited

Date:

 

Apr 16, 2015

Answer:

 

Each province determines what assets are exempt or protected in a bankruptcy. In Alberta, we use the Civil Enforcement Act. All exemptions are subject to the rights of secured creditors. The most common assets discussed and claimed are: 1. Household furniture and appliances up to a value of $4,000 2. Personal effects and clothing up to a value of $4,000 3. One motor vehicle with equity not exceeding $5,000 4. Equity in your principal residence of $40,000; this amount will be reduced, if the property is co-owned, to an amount that is proportionate to your interest. 5. All registered retirement savings plans (RRSP) and pension plans 6. Registered education savings plans (RESP) There may be assets that you own that are not listed above but are still exempt in a bankruptcy as I have only listed the most common assets discussed. Please do not hesitate to contact our office should you have any questions.

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

 

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