Bankruptcy Red Deer Archive

Question and Answer Category - Assets

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I have been trying to avoid bankruptcy for a few years now. My sisters, my brother, and I inherited a small home from our mother, 75 miles from Edmonton. My brother lives in it and pays rent, which we split five ways. If I go bankrupt, what will happen to the house?

My husband and I recently moved to Alberta. After moving here, the U.S. parent company of my husband’s company went bankrupt and they shut the pipe manufacturing plant down where my husband worked. We charged all our moving expenses on our credit cards, and now have no income to pay these cards and the other debts we have. The only assets we have are a leased car, our furniture, a small pension and RESP‘s for our kids. What assets can we keep if we go bankrupt?