Bankruptcy

In Edmonton & Northern Alberta

What Is Bankruptcy?

Bankruptcy is a legal process, provided and regulated by the federal government, to help citizens and permanent residents overcome unmanageable debt and have a fresh start. Filing for bankruptcy can only be done by a Licensed Insolvency Trustee and must follow the procedures outlined in the Bankruptcy & Insolvency Act of Canada. Through bankruptcy you can be discharged from your unsecured debts, meaning that your debts are eliminated and can no longer be enforced by your creditors.

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Filing for Bankruptcy in Alberta

See the bankruptcy process broken down into five simple stages.

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Looking for a Bankruptcy Trustee?

Find out why you need a Licensed Insolvency Truste instead.

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The Bankruptcy & Insolvency Act

Everything you need to know about Canada’s insolvency legislation.

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Alberta Bankruptcy Exemptions

Find our what assets are considered exempt from bankruptcy proceedings.

When Should I Consider Filing For Bankruptcy?

The bankruptcy process is designed as a last resort for individuals and families who are in a position where they cannot afford to deal with their debt in any other fashion. Here are the top signs you should be discussing your finances with a bankruptcy trustee:

Avoid answering the phone afraid of harassing creditors
Paying minimum payments on credit cards
Owe CRA back taxes for multiple years
Wages garnished for unpaid bills
Turned down multiple times for extended credit
Use one credit card to pay another
Repeatedly use cash advance or payday loans
Skip payments or are behind on accounts

Are There Any Alternatives to Bankruptcy?

At Goth & Company, we believe it is important for everyone to understand that there are more options than just bankruptcy in Edmonton, and declaring bankruptcy may not be the best solution for your situation. To help ensure everyone is aware of what the options are, we provide a free initial consultation meeting with a Licensed Insolvency Trustee. The Trustee will examine your financial position and outline all the options that exist including:

various debt consolidation loans
debt management plans
the Orderly Payment of Debts program
filing a consumer proposal
declaring bankruptcy

Bankruptcy in Edmonton | Free Phone Consultation

Find out if declaring bankruptcy is right for you!

Free Professional Advice

Goth & Company are here to help. No cost. No obligation.

Client Reviews

See what our clients have to say about their experience with Goth & Company Ltd.

Goth & Company Ltd. LIT

4.7

Based on 499 reviews

Goth & Company Ltd. Took away my stress in my financial situation. As a busy person working, they try to help me based on my available schedules, Barton explained to me all the options with all the advantages and disadvantages of each of them. He made everything easy and simple for me. I will definitely recommend this company to all my friends and family that needed this kind of help.

Sherwin C.

1712120196

I am thrilled to share my experience with Goth & Company. They have truly been a lifesaver for me over the past 8 months. From the moment I reached out to them seeking help with managing my debt, they have been nothing short of professional, understanding, and dedicated to helping me navigate through a challenging financial situation.The team at Goth & Company went above and beyond to provide me with personalized support and guidance every step of the way. They took the time to carefully explain the process, answer all of my questions, and ensure that I felt comfortable and informed throughout the entire journey.Thanks to their expertise and assistance, I have been able to significantly reduce my debt and create a manageable repayment plan that works for my budget. I feel relieved and empowered knowing that I have their ongoing support and expertise to help me achieve financial stability.I highly recommend Goth & Company to anyone in need of debt management assistance. Their professionalism, knowledge, and commitment to their clients truly set them apart. I am incredibly grateful for their help.

Mandy K.

1711430017

I really appreaciate Mr. Goth professionalism when we had our meeting to sign the consume proposal .when we went through all the documents. He explain every everything and differences and made sure that i understand the process and made sure all the information are correct. It was seamless and pretty straight forward experience. Thank you

Eric T

1709374936

Barth was great to deal with and communicate with. He explained everything in detail and made sure I understood the process. I had no stress from start to finish. I also spoke with David when signing documents and he was also great to work with. Would 10/10 recommend Goth & Company for your debt consolidation/consumer proposals.

Kayla K.

1709075011

Going through with Goth $ Company has been one of the best decisions I’ve made. I felt so overwhelmed with my debt and felt like it was gonna be forever to be able to get it under control.. but now I have a goal in place and I can finally have some peace of mind! I couldn’t have asked for better people. I highly recommend Goth and thank you so much to the individuals I dealt with.

Tetiana O.

1708981125

Goth and Company are beyond caring and understanding. David Mazerolle is my trustee and he took his time to explain everything and to make sure I had all that I needed. I just felt really welcome into their company to help me fix my debt and get my credit back on track so I can buy a home in the near future!! Linet is very helpful as well, their all really helpful at Goth. 100% highly recommend them for your proposals or bankruptcy!!

Kyle

1708968463

It was a great pleasure using the services,Goth & Company Ltd., they have helped me settled my debt, every step they have guide me through. I didn't imagine myself paying for the bad loans I have had thru the years. They have provided me with debt consultations and formal debt settlement solutions, they gave me time to understand what I am dealing with before presenting me options on how to consolidate and reduce my debts.Thank you very much..

amélie L.

1705756178

Jim and Bart of Goth and Company are the best! Professional, educated and compassionate in all their dealings. I have met them a number of times professionally and have the utmost respect for them and the work they do. I would never hesitate in recommending them to anyone looking for help with their debts.

Gerri N.

1400270663

As a fellow Trustee, I can attest that Goth and Company is widely viewed as a leading firm in the personal insolvency market. I have known Barton Goth for several years and have collaborated with him on numerous matters. Barton has personally worked with me in helping individuals to complete their debt restructuring proceedings and successfully achieve a fresh start.

Blair M.

1399416761

From time to time our firm needs to refer individuals to a Trustee in Bankruptcy in the Edmonton area and Goth & Company has been an excellent choice. A friendly voice answering the phone, combined with knowledgeable staff making themselves available to answer questions and schedule appointments leads to a great experience. We have always found their technical knowledge to be excellent and the feedback received from previous referrals is always positive. Thanks for your help Goth & Company.

Scott M.

1399308374

I have been dealing with Barton Goth for over some time now and know him and his staff to be professional and experienced with insolvency issues. Their personal approach and commitment to providing one on one service is a credit to the Trustee community. Be it either a consumer proposal or a personal bankruptcy, I have no hesitation in recommending Baron and his team.

YRUInDebt

1397177705

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Will This Clear My Credit Report?

A Consumer Proposal or Personal Bankruptcy Will Clear Up My Credit Report Myth or Fact? Several times a week I get calls from individuals (debtors) who believe that if they go through a consumer proposal or personal bankruptcy their debts will be removed from their...

How Much Will I Have To Pay If I Go Bankrupt?

How Much Will I Have To Pay If I Go Bankrupt? First We Evaluate Your Options With You When you meet with a Licensed Insolvency Trustee (LIT) to review your situation and your options, the bankruptcy process results in the least amount you pay and is usually the...

Do I Have To Disclose All Of My Debts?

Do I Have To Disclose All Debts In A Consumer Proposal Or Bankruptcy? Why It Matters When a consumer proposal or bankruptcy starts there is immediate protection from the collection action of all unsecured creditors against the debtor. To get this protection, certain...

Bankruptcy Is Not Just “Bankruptcy”

Bankruptcy Is Not Just "Bankruptcy" What is it Then? Bankruptcy is commonly used to describe one of the government law processes available in federal legislation known as the Bankruptcy and Insolvency Act (BIA). The BIA regulates the options available to deal with...

Frequently Asked Questions

Below are commonly asked questions about bankruptcy in Edmonton and in Alberta.

Who is Eligible to File for Bankruptcy in Edmonton/Alberta?

In Edmonton and Alberta, to be eligible to file for bankruptcy, you must:

Owe at least $1,000; and
Not be able to make your regular payments as they become due; or
Not be able to pay all of your debts if all your non-exempt property was sold.

How Much Does it Cost to File for Bankruptcy in Edmonton/Alberta?

There is a cost to file a bankruptcy that is regulated by the Office of the Superintendent of Bankruptcy. The cost is dependent on the following factors: Income, Family Size, and Assets you own.

For more information on the cost, you are best to contact Goth & Company Inc. directly and we can explain how the cost is determined in much greater detail.

Does the Filing of Bankruptcy Clear Me From All of My Debts?

While filing for bankruptcy will clear you from most of your debts, are a few exceptions. These exceptions include:

Secured creditors (eg. mortgage or car loan)
Court fines and penalties (including traffic violations)
Debts obtained by fraud or misrepresentation
Civil lawsuits involving intentional bodily harm, sexual assault or wrongful death
Student loans, if you have taken any classes in the 7 years prior to filing

Can My Creditors Continue to Harass me After I File for Bankruptcy?

No, upon the filing of a bankruptcy there is an automatic stay of proceedings. This is a legal procedure that revokes any of your unsecured creditors’ collection rights. If they call you, don’t panic. Just explain that a bankruptcy has been filed, and give them our name and phone number.