Bankruptcy Alberta

Bankruptcy Alberta – Personal Bankruptcy Canada’s  is a group of carefully selected Member Trustees who are licensed by the government to assist people just like you with their bankruptcy petitions and bankruptcy alternatives.

If you are ready to take charge of your finances, select your area from the links below. You will be provided with contact information for an Alberta Bankruptcy Trustee in your area.

Alberta Bankruptcy Laws

Bankruptcy exemptions vary from province to province.  Alberta has unique exemptions for its citizens which makes filing for bankruptcy in Alberta different than filing elsewhere in Canada.

While no one loses everything they own in an Alberta bankruptcy, you may have to surrender some of your assets to the bankruptcy estate in exchange for the elimination of your unsecured debt.  To learn which assets you keep and which you surrender, you can contact an Alberta Bankruptcy Trustee by completing the Get Help With My Debt form in the sidebar of this page.

Assets which are protected for Alberta residents during a bankruptcy include:

  • Food required for you and your dependents for the next 12 months
  • Clothing for you and your dependents valued up to $4000
  • Household furnishings and appliances valued up to $4000
  • One motor vehicle valued up to $5000
  • Medical and dental aids required by you and your dependents
  • Equity in your principal residence, including a residence that is a mobile home, up to $40,000. However, if you are a co-owner of the residence, the amount of the exemption is reduced to an amount proportionate to your ownership interest in the residence
  • If your primary occupation is not farming, personal property valued up to $10,000 that you use to earn income from your occupation
  • If your primary occupation is farming, up to 160 acres of land if your principal residence is located on that land and that land is part of your farm
  • If your primary occupation is farming, the personal property that is necessary for the proper and efficient conduct of the farming operations for the next 12 months
  • Your Registered Retirement Savings Plans (RRSPs) or Registered Retirement Income Funds (RRIFs), apart from any contributions made in the 12 months prior to bankruptcy

**These exemptions are current as of March 2014 and are subject to change

Alberta Bankruptcy FAQs

 

Alberta Help & Resources

Schedule a free consultation with a trustee today to learn what debt relief option is ideal for your circumstances.  Personal Bankruptcy Alberta’s bankruptcy trustees, Bromwich & Smith offer their services to ALL of Alberta. If you do not see your city listed above, call 1(866) 667-5305 for assistance.