We'll Help Wipe Your Slate Clean.

Personalized Service, the Fox-Miles way. Family-friendly, non-judgmental Insolvency, Bankruptcy, and Credit Counselling services to help you through difficult times.

licensed Bankruptcy trustee in Alberta

Fox-Miles and associates

Are you considering Bankruptcy in Edmonton due to financial distress?  Fox-Miles & Associates has been a Licensed Bankruptcy Trustee in Edmonton and Alberta since 1999. During your free initial consultation, we will work with you to explore your spending habits, budgeting and thoroughly consider your debt relief options.  Additionally, we will ensure you understand the warning signs of financial difficulties, the role credit plays in your life, and how to obtain and use credit in the future.

With over 35  years of experience as a Bankruptcy Trustee in Edmonton, Rhonda Fox-Miles has seen it all. She is a Licensed Insolvency Trustee and a Registered Social Worker. Her social work background gives a unique approach to helping individuals with financial crises.

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We dedicate ourselves to supporting our clients as they go through the process of wiping their financial slates clean.  Fox-Miles brings a vast network of resources so our clients can achieve the peace of mind necessary for making a fresh start. We have helped clients navigate their way through Bankruptcy in Edmonton and Alberta since 1999.

Professional Affiliations

Alberta Bankruptcy Trustee

ARE YOU CONSIDERING AN EDMONTON BANKRUPTCY TRUSTEE?

It is time to find a solution if you are drowning in debt and getting overwhelmed by calls from creditors and collections agencies.  If you are considering declaring bankruptcy, the first question you must ask yourself is, “Is bankruptcy the right choice for me?”.  Before declaring bankruptcy, knowing how it works, the long-term effects, and all potential pros and cons is essential.  Our job is to ensure that you are presented with all the necessary information to make an educated decision on how to proceed during your financial difficulty.  Declaring bankruptcy is a significant choice and life event.  Make sure to speak with an experienced Trustee before deciding how to proceed.

WHAT ARE THE PROS & CONS OF DECLARING BANKRUPTCY?

Positives:

Negatives:

HOW TO CLAIM BANKRUPTCY

To file for Bankruptcy in Edmonton, you must meet with a Licensed Insolvency Trustee.  Our Trustees will help guide you along each step of the bankruptcy process.

Step 1
SCHEDULE
Schedule your free consultation with Fox-Miles
Step 2
MEET
Meet with trustee to review your current financial situation
Step 3
REVIEW
Review all financial solutions available to you, including options other than bankruptcy
Step 4
DECIDE
Decide on the best approach to take to resolve your financial concerns
Step 5
COMPLETE
Work with your trustee to complete all required forms
Step 6
FILE
Your trustee will file the required forms with the Government
Step 7
SUBMIT
Once you have submitted the bankruptcy documents, your creditor protection process officially begins

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Personal Bankruptcy?

We can walk you through every step of the process.

CRA Service Options

Helping you meet your CRA payment responsibilities.

Drowning in Debt?

Explore your options for gaining financial stability.

WHAT WILL HAPPEN TO MY ASSETS IF I DECLARE BANKRUPTCY?

One of the most frequently asked questions about declaring bankruptcy relates to personal assets and what will happen to them if you choose to declare bankruptcy.  Each bankruptcy case is unique and presents many variables.  Remember, claiming bankruptcy does not necessarily mean losing all your assets.

It is a common misconception that you will lose all your assets during bankruptcy.  Declaring bankruptcy aims to give you a fresh financial start and protection from creditors.  During the bankruptcy process, you will have to surrender certain assets to help discharge you of your debts.  But government regulations also stipulate that you must be able to keep certain assets to cover living expenses.

In general, the assets you get to keep during the bankruptcy process include:

  • Personal items
  • Clothing
  • Furniture and food in your permanent residence
  • Vehicle (limits are depending on value)
  • Contributions to RRSPs, RESPs, and Pensions. Contributions made in the 12 months before declaring bankruptcy can be used to pay off debt during the bankruptcy process

BANKRUPTCY ASSET EXEMPTIONS

The Alberta Civil Enforcement Act exempts some specific property from seizure during bankruptcy proceedings.  Exemptions are generally related to the equity value of certain items.  Equity is calculated as the value of an asset minus the amount owing on said asset.

Below is a list of bankruptcy exemptions in Alberta:

  • Finances are secured to provide you and your dependants with food for 12 months
  • $4,000 exemption on clothing for you and your dependents
  • $4,000 exemption on furniture and appliances
  • $5,000 exemption on your vehicle
  • $10,000 limit for tools required for your work
  • Medical and dental are exempt
  • $40,000 exemption limit on your primary residence
  • Investment such as RRSPs, RESPs, and pensions
  • Life insurance policies (limitations apply)
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