Edmonton bankruptcy can be effective at eliminating most of a filer’s debt and providing a fresh start when it comes to the person’s finances. However, this clean slate comes at a steep price – the liquidation of the filer’s assets and the resetting of his or her credit score are just two repercussions that may make it hard to recover financially. Also, cancellation of debt is only applicable to most unsecured debt – if the filer owes alimony or child support, for example, payment towards these is expected after bankruptcy. For better ways to manage debt or eliminate it entirely, talk to a certified financial advisor or a licensed bankruptcy trustee.