[Wookie]

For years, bankruptcy trustees and credit counsellors in Calgary haven't had enough work.

"We are seeing people now who are going into bankruptcy, walking away from properties that in the last . . . four years in Calgary has been very, very, very rare," said David Smith, a trustee in bankruptcy at Bromwich & Smith Inc. "Now it's becoming more common."
In July, 494 Albertans declared bankruptcy -- a 24 per cent increase from the previous year, according to the Office of the Superintendent of Bankruptcy.

There has also been a hike in the number of people who can't keep up with their mortgage payments.
Statistics from the Canadian Bankers Association -- compiled from the seven major banks -- show the number of Albertans who haven't paid their mortgage for three or more months has nearly doubled in a year.
There were 1,301 people behind on their mortgage payments in July, up from 702 people a year earlier.
A real estate expert believes there is no need to panic.
Don Campbell, president of Alberta Real Estate Investment Network, said the number is relatively small, making up 0.28 per cent of the 471,913 mortgages across Alberta.

http://www.canada.com/calgaryherald/...1-2735e2009cc1