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Bankruptcy in Alberta (AB): Debts that Can/Can't be Included

The exact debts that can and can't be included in Bankruptcy vary from province to province.

What Debts are not Covered Under Bankruptcy in Alberta (AB)?

When you declare Bankruptcy you will be freeof most, but not all, debts. Secured debts which are tied to a specific asset as collateral (i.e. car loan, mortgage) are not covered under bankruptcy declarations. The law also sets out several unsecured debts that are not covered in bankruptcy claims:

Canada, AB, Consumer Debt Proposal Information for Canadians, Insolvency Student Loans less than 10 years old

Canada, AB, Consumer Debt Proposal Information for Canadians, Insolvency Awards for assault or sexual assault damages

Canada, AB, Consumer Debt Proposal Information for Canadians, Insolvency Alimony claims

Canada, AB, Consumer Debt Proposal Information for Canadians, Insolvency Spousal Support

Canada, AB, Consumer Debt Proposal Information for Canadians, Insolvency Child Support

Canada, AB, Consumer Debt Proposal Information for Canadians, Insolvency Court Fines

Canada, AB, Consumer Debt Proposal Information for Canadians, Insolvency Debts resulting from committing fraud or theft

What Debts are Covered Under Bankruptcies?

Alberta (AB) Personal Bankruptcies free debtors from most unsecured debts, which include:

Canada, AB, Consumer Debt Proposal Information for Canadians, Insolvency Credit card balances

Canada, AB, Consumer Debt Proposal Information for Canadians, Insolvency Department store accounts

Canada, AB, Consumer Debt Proposal Information for Canadians, Insolvency Unsecured lines of credit

Canada, AB, Consumer Debt Proposal Information for Canadians, Insolvency Back payment of income taxes and municipal house taxes

Canada, AB, Consumer Debt Proposal Information for Canadians, Insolvency Unsecured personal loans

Canada, AB, Consumer Debt Proposal Information for Canadians, Insolvency Medical, utility, and insurance bills

Canada, AB, Consumer Debt Proposal Information for Canadians, Insolvency Cell phone payments

Canada, AB, Consumer Debt Proposal Information for Canadians, Insolvency Payday loans

Schedule a free consultation. Remember, we work for you, it's confidential, and there is always something we can do!

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Tags: Canada, Alberta (AB), Free Bankruptcy Advice

 
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