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Alger & Associates personal bankruptcy services are
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Bankruptcy Calgary Edmonton Q&A Forum

Question:

 

My husband and I believe we may need to file for bankruptcy as our income has recently been lowered and we are struggling with our debt. We plan to sell our house and pay off most of our debt. Will we get in trouble for selling our house if we decide we still can't handle our debt load after the dust settles?


From:

 

Grant Thornton Limited

Date:

 

Nov 03, 2015

Answer:

 

Hi Lynn, If you decide to file for bankruptcy and list your home for sale. You and your husband are entitled to the first $40,000 equity after the mortgage(s) and selling costs are paid. If you need further clarification please contact our office. I would suggest a discussion to review the different type of debts you and your husband owe and assets that are protected in a bankruptcy or proposal filing.

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

 

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