Debt relief in Alberta

Explore your debt relief options in Alberta, Canada.

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Grant Thornton offers Albertans judgment-free solutions to their debt.

As Licensed Insolvency Trustees and debt solutions professionals in Alberta, we’re regulated by the federal government, meaning we’re the only professionals authorized to offer debt repayment solutions, like consumer proposals and bankruptcy. We provide free, no obligation consultations to help get you back on track with your finances. Book yours today!

Consumer proposals in Alberta.

Consumer proposals are becoming one of the most popular debt management solutions for Albertans struggling with debt. As an alternative to bankruptcy, a consumer proposal is a legally binding repayment agreement between you and your creditors. A Licensed Insolvency Trustee will negotiate on your behalf to settle your unsecured debt (credit cards, income tax debt, payday loans, etc.) into a single, interest-free payment.

Learn more about consumer proposals.
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Filing for bankruptcy in Alberta.

Personal bankruptcy is a common debt solution that allows you to clear almost all your debt, including income tax debt, credit card debt, overdue utility bills, lines of credit, and loans. Before you decide to file for bankruptcy, it’s important to consider all other debt repayment options. Your Licensed Insolvency Trustee (LIT) will help you decide if declaring bankruptcy is the best choice for you.

Learn more about personal bankruptcy.

What assets can I keep during bankruptcy in Alberta?

In all provinces and territories, you can generally keep essential items up to a certain value—like necessary clothing and household goods, most retirement savings, Registered Disability savings plans, and most life insurance policies and pension plans. Learn more detailed information about what assets you can keep in your province. 

Exemptions specific to Alberta include:

  • The equity in your principal residence, including a mobile home, up to a value of $40,000.
  • One motor vehicle, up to a value of $5,000.
  • Medical and dental aids required by you and your dependents.
  • Personal property or tools of the trade (i.e., tools, equipment, books, computer) needed for your occupation up to a value of $10,000.
  • Necessary clothing and household goods up to a value of $4,000.
  • Specific exemptions for farmers if your principal source of livelihood is farming.

Other debt relief options available in Alberta.

  • Orderly Payment of Debts: This debt repayment option is not offered by Grant Thornton but can be administered by provincial credit counsellors in Alberta, Nova Scotia, Prince Edward Island, and Saskatchewan. An Orderly Payment of Debts combines your unsecured debt into one monthly payment with an interest rate of 5% to be paid back over three years. Certain types of debt, such as income taxes or business-related debt, can’t be included. 
  • Credit counselling: Credit counselling is a nonprofit service that helps Albertan’s who are struggling with their finances. Your credit counsellor can help you with budgeting, financial literacy or managing debt payments through a debt management or settlement plan.
  • Debt consolidation: Debt consolidation loans are offered by lenders like banks and combine some or all your debt into a single monthly payment. Aside from reducing your number of bills, debt consolidation loans can also offer a lower interest rate.
Please note these services are not offered by Licensed Insolvency Trustees.

Your local Alberta Licensed Insolvency Trustees

Trusted, regulated, and knowledgeable debt solutions professionals in your neighbourhood.

Frank Fabiano
CPA, CIRP, LIT

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About Frank
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We’re proud to be in the following Alberta communities:

We're able to service all of Alberta via phone or video call. If you don't see your city below, we may still be able to help. Book your free consultation to learn more.

Airdrie

  • We’re pleased to offer virtual services to residents of Airdrie.
  • Please call 1 (403) 296-2965 for appointment availability.

Brooks

500 Cassils Road E, Unit 6

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Camrose

4870 51 Street, Suite 201

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Calgary

332 6 Avenue SW, Suite 1100

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Edmonton

10060 Jasper Avenue Suite 601

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Fort McMurray

  • We’re pleased to offer virtual services to residents of Fort McMurray.
  • Please call 1 (844) 448-3328 for appointment availability.
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Lethbridge

  • We’re pleased to offer virtual services to residents of Lethbridge.
  • Please call 1 (403) 388-8067 for appointment availability.
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Medicine Hat

2248 13 Avenue SE, Suite 101

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Red Deer

  • We’re pleased to offer virtual services to residents of Red Deer.
  • Please call 1 (403) 755-8138 for appointment availability.

Hear from people we’ve helped:

Comfortable and professional.

I was nervous and ashamed when I first contacted them regarding a consumer proposal because it was embarrassing for me. The whole process from first consultation to the end was very comfortable and professional. They made me feel like a regular person the whole time and explained to me the process. Definitely recommend to anybody.

— Anonymous (Edmonton)

I feel so much weight lifted off my shoulders.

I just had a very warm and comforting meeting with Susan. I strongly feel so much weight lifted off my shoulders now. I may even sleep tonight. My ex put me in a really bad spot. One that I couldn't recover from. It was hard for me to take this step, but now I'm so glad I did. Thank you, Susan, so much.

— Mike W. (Edmonton)

For the first time in over a decade, I have hope!

I was destitute. My financial situation had degraded to the point where I was homeless. I was referred to Susan at Grant Thornton. Because of her I now have a second chance at putting a life together, for the first time in over a decade I have hope!! If you are in a similar situation, don't hesitate to reach out. These people are here to help you, as they did for me. I am eternally grateful to Susan and Grant Thornton.

— Garry J. (Edmonton)

Very friendly and non-judgmental.

They helped me out in a time when I didn't know what to do, they were very friendly and non-judgmental. They handled my situation swiftly and I would like to thank them for all they did for me, I am so very grateful. I would recommend Grant Thornton 100%

— Shawna S. (Edmonton)

Susan has been pivotal in getting my finances back on track.

Dealing with accumulating debt and knowing when you are way over your head is a tough pill to swallow. Susan has been pivotal in getting my finances back on track. She takes the time to explain your options and possible outcomes. Huge "Thank You" to Susan for your expertise, advise, and just being real. You have no idea how much I appreciate it!

— Anonymous (Edmonton)

Take the first step to debt freedom

Speak to one of our debt solutions professionals during a free, no-obligation consultation.

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Looking for assurance, tax, and business advisory services? Visit Doane Grant Thornton LLP.

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