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Alberta Bankruptcy Question & Answer Forum

Author:		Anonymous
Date:		December 3, 2009
Question:		I currently have 20K in debt from 2 creditors (Mcrd & CIBC Line of Credit) which were incurred during my former marriage. My ex- spouse who is the primary borrower on the Line of Credit (I am the cosigner) has refused to pay anything towards this outstanding debt. I have continued to pay for the last 3 yrs without getting ahead on the balances. I am considering going bankrupt as I do not forsee myself being able to pay off these balances as I will be on maternity leave next year & my salary will be reduced by more than 50%. Am I candidate for bankruptcy & will the creditors seek to go after my former spouse to recoup any monies? What are the steps I need to take to initiate a bankruptcy?
From:		Karen Rideout
Date:		December 3, 2009
Answer:		You appear to be a candidate for bankruptcy and yes, once you file the creditors will continue their collection efforts on any other account holders. You start the process by calling the Trustee office - 403-298-5800 and setting up an initial interview. It can also be done by e-mail karen.rideout@ca.gt.com Karen Rideout phone: (403) 296-2973 karen.rideout@ca.gt.com   click here to submit a question to the Alberta Bankruptcy Q&A forum If you wish to talk to one of the Alberta bankruptcy professionals at Alger & Associates Inc., you can call us TOLL FREE from anywhere in Alberta at 310-8888. After hour appointments are available.

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