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Signs you may need to declare bankruptcy

If you are in Calgary and in debt, these indicators may determine if you need to file bankruptcy.


  • Are your creditors constantly contacting you for payment of overdue bills?

  • Are you always paying only the minimum balance on your credit cards?

  • Do you take cash advances from your credit cards or borrow money from family or friends to pay your regular monthly living expenses?

  • Are your wages being garnished or your assets seized?

  • Are bill collectors or collection agencies calling you at work for payment of your bills?

  • Do you constantly pay interest and service charges on all your debts because you can't pay on time?

  • Do you spend more than 40% of your take home pay on your rent or mortgage, house maintenance and utilities?

  • Are you always making arrangements with your creditors to catch up on missed payments?

  • If you answered YES to any of these questions, you may have a debt problem or you may need to file bankruptcy.

If you think you may need to declare bankruptcy, contact one of our Calgary bankruptcy trustees at 310-8888 for a free consultation.

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