This statement bothers me every time I hear it! To say that a Trustee works for one party suggests that he or she works against someone else.

I have a Tax credit debt for my old company 17 years ago. They are garnishing my wages now. I feel that this debt is not mine personnally. I was told to file Bankruptcy for this. please advise Thanks randell

Given today’s economy and an increased cost of living, many Albertans are feeling the pressure and are ready to ‘round up their debt’.

How are secured creditors (mortgages, car loans etc.) affected in a bankruptcy or proposal?

If you are struggling to make your minimum monthly debt payments or if you are concerned that the minimum payments are not effective in reducing your total debts, a personal loan may be an effective way to consolidate your debts and reduce your total debt load over a set period of time.

Generally when you file for bankruptcy or make a proposal to your creditors, unsecured debts will be released. Section 178 of the Bankruptcy Act lists the only debts that survive a bankruptcy or Consumer Proposal.

If you have several different debts and you’re starting to have trouble managing them, you’ve probably already encountered the stress of trying to figure out who’s going to get paid and who’s not going to get paid this month.

If I just leave the country for a certain amount of time will all my debts (credit cards, loans, 6 years of unpaid income tax, etc.) just "0" out? If the answer is "no" would I have a problem getting into another country with a fresh bankruptcy on my record?

I have a partnership company with a debt of 5,000.00 and alot of other debt's. I need to know if i can claim bankruptsy and how.

While it can be tempting to solve a short-term cash problem with long-term savings, cashing in your RRSPs to pay down debt should be a last resort.