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Bankruptcy Calgary Edmonton Q&A Forum



What are the pros and cons of filing for bankruptcy in Alberta?



Grant Thornton Limited



Nov 19, 2015



Hi Mario, If you have reviewed all the different options and think that a bankruptcy is best than I think the pros of filing for bankruptcy are: 1. Stops creditors from enforcing collection and garnishments 2. Protects the assets you own pursuant to the Civil Enforcement Act or Alberta legislation 3. Provides a financial fresh start and strategies to budget A few disadvantages of filing for bankruptcy are: 1. Lowers your credit rating to an R9 2. Must complete duties outlined in the Bankruptcy Act 3. Stigma of filing for bankruptcy for people who are not familiar with the process Please do not hesitate to contact our office to receive a no obligation consultation for one of our professionals to review the different options available.

Susan Methuen
T 403-310-8888


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