Questions for Personal Bankruptcy in Alberta (Canada) only.
This service is not intended for indivduals who are already in bankruptcy or who have filed a proposal. Note that if you are in bankruptcy you should contact your Licensed Insolvency Trustee. If you cannot resolve matters with your Trustee, you might want to contact the Office of the Superintendent of Bankruptcy who are the federal regulators responsible for licencing in Canada.
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Recently posted questions and answers:
Hello, I have backed taxes for a couple years for both my personal and corporate ltd. Company that I used as an independent contractor. I have always filled my returns and just canâ€™t get ahead to pay this off. Would bankruptcy cover this?
I am on the board of volunteer not for profit organization that has been in existence in Calgary since 1994 but we have suffered a huge loss on our signature event in 2015 and don't believe we can pull out of this. How do you declare bankruptcy for a not for profit?
My spouse and I have got into a bind with our debt situation. As a former oil executive I had a breakdown a few years ago and decided to take some time off. We had plenty of cash on hand for me to rest and now after a few years it's nearly impossible to find employment or raise capital to start a newco. We have around $8000 / mo to cover. I generally was in the $300-500,000/year range so quite manageable. But our fixed assets are a Hotel and Restaurant ( impossible to sell in this market), waterfront Cabin ( debt free), house in Costa Rica ( debt free but not securable ) the house Heloc would drop if reassessment LTV dropped from 80% to now around 65%. No issues if I can find work but the stress has become almost unbearable again. Thoughts?
hello my business partner and I started a company in 2010 as the years went by more debt to the cra is incurred now I have stared a new company doing the same thing but the right way. as well as my partner but he put the company under his spouses name what can we do to close the existing company ? can we go bankrupt and what does bankruptcy take care of (ie creditors , CRA...
My friend is currently doing a proposal to deal with past taxes owing from being a self proprietor in construction. Can he start a ltd company (incorporate) to do his business or does he need to be in good standings with the federal government before doing so. This situation is in Alberta Canada thanks.
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