Archive for the ‘Uncategorized’ Category

Question: I need to claim bankrupcy and I have a computer that I still owe money too but I will always have a $1000 a munth income and I want to pay it off. I need my computer I can’t loose it. I’m on aish and am diabled and I cant get out alot so I need to do this over the phone or online. can you help me or point me in the right direction.

Answer: In Canada, including in Calgary, you cannot file bankruptcy over the phone or online. You must be assessed, in person, by a licensed trustee. We suggest you contact a trustee; they will provide some initial information to you over the phone, or by email. They will want to review your computer loan agreement to advise you on what will happen to the computer in the event that you file bankruptcy in Alberta.

Does This Example Sound Like You?

You are making decent money, but you and your kids were used to being a two income family. Your child support payments don’t seem to help much, especially when your ex doesn’t pay you on time, if at all. On top of all of this, there all bills your ex said would be taken care of, but haven’t. What can you possibly do?

What Can You Do?

The hardest part about becoming a one income family is that most or your expenses stay the same. You still have to pay rent, groceries aren’t much cheaper, and the utility bills are the same. You may be able to work out your problems with a consumer proposal and some financial counselling. If you would like some advice from a professional to find out you’re your options are, click here for more information.

Does This Example Sound Like You?

Tom Johnson works for an automotive parts company. For the last few years he averaged 10 hours of overtime per week, and he used that extra money to pay his bills. His company has less work, and has cancelled all employee overtime. As a result, he is having a hard time paying his bills. What can he do?

What Can You Do?

On his now reduced income, Tom can’t make all of the minimum payments on his credit cards. He has a few options. First, he could try to reduce his monthly expenses to free up cash to pay his credit cards. Second, he could file a consumer proposal, making a deal with his creditors to pay them over time. Finally, if all else fails, he could file for bankruptcy. To investigate your options, click here for more information.