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.

Filing for Bankruptcy in Alberta

See the bankruptcy process broken down into five simple stages.

Looking for a Bankruptcy Trustee?

Find out why you need a Licensed Insolvency Truste instead.

The Bankruptcy & Insolvency Act

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

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
Bankruptcy Services in Edmonton

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
4.6
Based on 294 reviews
I used Goth & Company previously & I found Mr. Goth to be highly knowledgeable, kind, caring, & friendly. He answered all of my questions that I had quickly. I wouldn't hesitate to use Goth & Company again in the future & give them high praise for the wonderful job that they do, during a stressful time that it can be.
Tom P.
17:06 03 Nov 22
I became a trustee for a family member and required insolvency consultation. Goth & Company was excellent at helping me navigate the debt load and was very professional in providing suggestion to move forward. I highly recommend this company for all insolvency issues whether it be for yourself, family member or friend!
Jackie R.
15:35 02 Nov 22
Goth & Company are professional, non judgemental, knowledgeable and very kind and courteous. I have used their services twice now and recommend them to anyone I know with Financial Hardships . I feel blessed to have come across them to help me work through my debts! All the staff there are awesome……From reception all the way to Trustee…..Hiy Hiy ( thank you in my Cree language) ……..Goth & Company
Teresa S.
11:03 09 Sep 22
Goth & Company Ltd. is what I am looking for. Their company has always been to help the clients the best way they can to get through their most difficult financial times. Their desire to put the client first has always been the priority, and if you want someone to help with your financial situation, please see Mr. Goth.
Francis R.
13:17 12 Aug 22
Goth & Company Ltd. helped me get back on track to financial freedom. They contact and deal with your debtors and come up with a plan for repayment that works for you. There is no judgment of you, no shame in seeking help to get your debts under control. Hey, life happens and sometimes you fall behind. Should it happen to you, Goth & Company are there to help you get back on track and get your life in order. Stop losing sleep at night worrying about your debt and give Goth & Company a call. You won't regret it, you have nothing to lose and only financial freedom to gain.
Parker C.
16:19 25 Jul 22
Excellent service !! Thank you for helping me with my financial debt /credit . It is not forever! I will find financial freedom within 5 years or sooner . To help me recover from this debt burden Goth Company will assist me with budgeting and financial debt/ credit counselling. Definitely a stress reducer! Very Grateful, Karen Rea
Bill R.
23:37 20 Jul 22
After completing my first finance session with Amanda, I really feel I have started on the road to financial recovery. To this point everyone I've dealt with from Barton Goth have been very professional and very informative as to what I need to expect moving forward with this process. The stress relief is massive and I can finally see a way out of my financial crisis. I look forward to completing this process and finishing my sessions to learn tactics to avoid this situation from becoming reality in the future.
Tony M.
17:31 19 Jul 22
What a wonderful caring experienced group of people working for this company.Gave me all the information needed in a non judgmental way and guided me through the process like they actually cared about what I was going through.The people from this Company that helped me were soft spoken and actually listened to what my concerns were and replied to them with guidance that put my mind at ease and helped me move forward with this stressful for me process.Outstanding ! Would highly without reservation recommend this company.
Brent A.
15:21 19 Jul 22
The people at Goth & Company have made a huge difference in my financial life. They were professional, quick, efficient and easy to work with. I appreciate that all documentation and arrangements were handled online so that there weren't any healthc concerns. And they were concluded efficiently ithout any issues. If you have need of financial or legal services, then Goth & Company is the place to look.
The House of R.
02:08 07 Jun 22
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.
20:04 16 May 14
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.
22:52 06 May 14
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.
16:46 05 May 14
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
00:55 11 Apr 14
js_loader

Recent Posts About Bankruptcy

We continually publish new content based on questions and feedback from our clients and visitors.

Will This Clear My Credit Report?

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...

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

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...

read more
Do I Have To Disclose All Of My Debts?

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...

read more
Bankruptcy Is Not Just “Bankruptcy”

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...

read more

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.