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.

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Client Reviews

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

Goth & Company Ltd. LIT

4.7

Based on 584 reviews

For a very long time I had been on edge because of a 'charitable giving' tax shelter I had participated in many years earlier . The tax court had finally ruled against the beneficiaries of this shelter and I was now on the hook for most of my original donation plus interest dating back 20 years .I was ' climbing the walls' waiting for the day CRA would scoop my bank account .But , Goth pulled away the clouds of doom and presented me with a well explained , greatly reduced 5 year payment plan that CRA accepted.Until this thing with Goth was behind me , I did not realize how it was affecting everything in my life . I sleep better , I smile more and people ask "do you have a girl friend ". I am a bit of a recluse.And since this proposal was enacted , Goth has been so helpful in promptly answering any questions I might have.

Terry

1721014010

The time, kindness, knowledgeable staff of this wonderful company helped our household when in a small bind.Each staff member was understanding, and treated us like we mattered/family; as well as clients.No better place to go to than this company for anything they offer.Made everything very simple, and put lots of anxiety at ease starting from the very 1st appointment.Thank you from the Hall & Grayson families.

Jenna G.

1718320471

I got in touch with Goth and Company a few weeks ago and I am happy that I did. .They are very informative and awesome people to talk with ..Everything is explained very well and any questions that you asked are answered...I can honestly say they have helped me great with this process. .So I advise people that if you are having financial problems please give Goth and Company a call. You will not be disappointed.. Thank you for the help you have given me.

Linda D.

1718305302

Omg! I’m finally feeling like I can relax. The last couple of months, have been extremely stressful and overwhelming. I left Real Estate in November .. but the CRA estimated my HST. And demanded I pay installments .. but wanted huge payments. That I couldn’t pay.So I decided to do a Consumer Proposal. Goth, explained everything to me & took care of everything and really took the stress out of my life.

Jackie W.

1717537020

The last couple of years, I had been going through some personal difficulties that put me in a place where I had no room to breathe financially. I felt like I was running around in circles paying left and right and was still not catching up. Until one day I realized, I can’t make all these payments next month. When I saw that I was in real trouble, I contacted Zach from 4 Pillars and was referred to Goth & Company Ltd. An appointment was made and I met with, David Mazerolle. I was anxious, I would have to tell what had happened that got me to the point of not being able to pay. The trustee put me at ease explaining everything. He went through every single step and how everything works. Before signing, went through all the calculations and how much my monthly payment would be. Having said all of this, if you are struggling, please know that there is help. Knowing what I know now, I encourage anyone experiencing a similar financial distress to contact Goth & Company Ltd. There is no risk, you will not be judged.

Caro M

1717531561

When dealing with a personal, and sensitive issue such as your finances, you seek a process that smooth and easy. You also seek people that are knowledgeable and kind towards you and your situation. These are all qualities that this company offers. Looking forward to continuing to build my relationship with this company, as I work towards financial freedom and success!

Claire

1717526718

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

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.