Bankruptcy Red Deer Archive

Question and Answer Category - Liabilities/Debts

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I went bankrupt in Red Deer  in March and  I lost my job last month.  I wasn’t able to make my car payment. It was either my rent or the car.  I owe more on the car than it is worth.  Can I let it go back and what will happen if I do?

I am a real estate agent. With the downturn in the economy, my sales and commission cheques have been getting smaller. In order to make ends meet, I have not been paying my desk and advertising fees, and my agent paid the renewal on my license. I don’t expect it to turn around soon, and my brother has suggested I go bankrupt or file for bankruptcy. Can I keep my real estate license if I go bankrupt? And what happens to the amounts I owe my Agent?