cost of bankrutcy: Bankruptcy Alberta

Posted on Thursday, February 08, 2007

HI I have accumulated 28,0000 in debt, the collection agents are calling, and now I have been served court papers by two of them. I owe to HBSC Master Card, Royal Visa, Provincial and Federal Student Loans (from 1992) and some other small stuff. My problem is that I am welfare, and while I just aquired a job I can not offer to pay the 1,700 fee to declare bankrupcy. What alternatives do I have?

1 Comments:

At 4:14 PM, Barton Goth, GCO, Bankruptcy Trustees said…

From the sounds of it you are in a position I refer to as creditor proof, meaning that there is nothing the creditors can do to force repayment as your income is to low. As a result there is no need for you to file a bankruptcy immediately. As a result you are probably better off to wait until you are employed and are in a position where you can afford the monthly payment.