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

bankruptcy trustee


Same team, new name

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

Receive a callback from one of our bankruptcy trustees

 

Bankruptcy Calgary Q&A forum

Question:

 

I have been unemployed for almost three years. I have exhausted my RRSP,s and have a credit card debt of approximately $ 100.000 I own my house mortgage free . I will be turning 55 years old in the spring of 2017 . What assets are exempt in a bankruptcy ? is a reverse mortgage possible ? I have several old vehicles , which are only worth something to me or have more invested than what they would be able to sell for . Are only registered vehicles considered assets ?


From:

 

Grant Thornton Limited

Date:

 

Dec 01, 2016

Answer:

 

Hello, Based on your concerns indicated above, a personal residence with, up to, $40,000 in equity is exempt in bankruptcy. A vehicle with a maximum of $5,000 equity is also exempt. All vehicles that you own are considered to be an asset. There are more assets that are protected in bankruptcy, perhaps you would like to contact our office at 310-8888 for a no obligation consultation to discuss.

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

 

For debt help and bankruptcy in Calgary, Edmonton, and throughout Alberta, call TOLL FREE from anywhere in Alberta: 310-8888

We're here to take your call!
In person Mon to Fri: 8am-4:30pm.
Over the phone Mon to Fri: 7am-5pm, Sat & Sun: 9am-3pm

 

 

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  

×

×