It's a statistic that's become all too familiar for Alberta.

According to Airdrie based business MNP, the Province saw a rise of 26% for people claiming bankruptcies.

"Right now I have to say the main factor has to do with employment. People losing jobs, inability to find employment or find full time employment so people's income, household income has decreased." says Vicky Samuels, Insolvencies Trustee at MNP

Although some who had lost jobs have found new work, Samuels says the journey isn't done.

"Even when someone finds employment, it's often difficult to catch up, sometimes they just need some breathing room to catch up on those utility bills and endure those debt payments."

The best advice that Samuels offers to those in possible bankruptcy trouble is to seek professional support and resources.

 

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