2026-06-25
Simple credit card tips: How to pay it off faster and keep your credit healthy
Learn how paying down credit card debt, checking your credit report, and managing utilization can improve your financial health.
How Does Bankruptcy Affect Exempt Assets In Alberta
2008-12-22
Certain assets that you own are protected when you file for bankruptcy, meaning that you get to keep them. There is a list of both federal exemptions (which are the same for all bankruptcies in the country), and a list of provincial exemptions (which vary by province). For a list of the provincial exemptions, please see What assets can I keep? under the Personal Options/FAQs/Personal Bankruptcy section of this site. The federal exemptions are such things as locked-in pensions, certain RRSPs (e.g. life insured or contributions over 12 months ago). Any exemptions that you claim are subject to you having given that asset as collateral for a loan. You basically give up your exemption until you pay the lien/loan back. Some examples of this could include a house mortgage, a car loan, or a furniture loan. Donna Carson, CGA, CIRP, Trustee Calgary, Airdrie, Drumheller regions 403.537.7657 or 1.877.500.0792
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