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Bankruptcy Question & Answer Forum - Alberta
Author: |
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anonymous |
Date: |
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March 18, 2008 |
Question: |
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More than 2 years ago, I was separated due to marriage breakdown. As part of marriage settlement, my ex-husband paid out 1/2 of the house equity and removed my name from title. At that I had a huge personal debt and I used that money almost $60K to paid off all of my credit cards debts. After that in the last 2 years I accumulated again debts since I purchased stocks and most of the values went down and some of the companies even went bankrupt like Nortel. I am about to do either bankruptcy or proposal.. I have $600 surplus income after considering govt threshold but have 3 kids under my custody. which options is good for me? Total debt is $72K. Thanks
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From: |
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Karen Rideout, Alger & Associates Inc. |
Date: |
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March 20, 2008 |
Answer: |
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If the debt is $72,000 and your surplus $600 it sounds like a proposal may be the answer. If your stocks are in RRSP's and were purchased outside of the last 12 months then they could be exempt. We would need to see your whole picture to advise - ie. income/expenses/assets and liablilities.
Karen Rideout
phone: (403) 296-2973
karen.rideout@ca.gt.com
If you wish to talk to one of the Alberta bankruptcy professionals at Grant Thornton Alger Inc., you can call us TOLL FREE from anywhere in Alberta at 310-8888. After hour appointments at our Alberta bankruptcy offices are available.
Contact our Alberta bankruptcy trustees
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This site provides free information about personal bankruptcy and alternatives in Alberta. Calgary Bankruptcy, Edmonton Bankruptcy, Alberta Bankruptcy, Canada Bankruptcy
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