Alberta Bankruptcy

Author:

Anonymous

Question:

i owe about 33.000 in credit card debt. my income is cpp- oap- guaranteed income supplement and alberta supplement. I am 67 years old no assetts a 1995 van paid for my name is on a home morgage with a relative, and it is a secured morgage we each pay half the morgage payments my share is 300.00.I have a copy from a trustees site that says if you are retired it is impossible for a creditor to garnishee a pension. I would like to do a proposal or should I go bankrupt? my payments are still up to date but very difficult for me thanksfor any advise.

From:

Alger & Associates Inc.

Date:

Dec 18, 2009

Answer:

It appears that your income is insufficient to support your debt but to advise you on the appropriate solution would not be wise until we have gathered all the necessary data, particularly the structure of the mortgage and how it relates to your vehicle. If you require a consultation with a trustee, please contact our office 403-298-5800. The meeting is free and aimed at giving you all your options.

Karen Rideout
phone: (403) 296-2973
krideout@alger.ca