Book an Appointment

Is it time for us to meet?

If you’re thinking about booking an appointment, then you’ve already taken the first step by deciding you need help or advice with your personal or corporate debt. That’s often the most difficult step. We understand and we’re here to help.

The sooner we meet, the greater the likelihood of a positive outcome. Call our toll free number, call the number of the office closest to you, or send us an email by filling in the form below.

We’re looking forward to taking the stress off your shoulders and helping you live life again.

1.877.944.1177






Our Process

You’ve made the difficult decision to explore personal or corporate debt restructuring and now you’re wondering, “What happens next?”

First, let us say congratulations. It isn’t always easy deciding that you need assistance, but it’s more common than you know and the earlier you start, the better the chance for a positive outcome.

Next, understand that we want to make the entire process as easy and positive as possible. We will never judge or pressure you; we are only here to help.

Our process begins with information gathering. We have a responsibility to collect as many details about your financial situation as possible so we know exactly what we’re dealing with.

After we have collected the information, our team, including a Licensed Insolvency Trustee, will determine the most advantageous option and present it to you, carefully explaining all of the pros and cons.

After that, you are certainly welcome to take the information home and think about it to see if you have any further questions.

When you make the decision to proceed, our experts do the heavy lifting and work with you, side by side, until the project is completed.

Our process ends when your brighter days begin.

Payment Calculator

Easily Compare Payment Plans

The payment calculator is a tool to provide you with a preliminary overview and comparison of the 5 different restructuring plans available for your consideration in determining the restructuring plan that is best for you. The 5 restructuring plans include maintaining regular monthly payments to creditors, consolidation loans, orderly payment of debts, consumer proposals and bankruptcy. The calculator is not comprehensive or exhaustive and is intended for demonstration and discussion purposes only. There are many additional factors and variables that require consideration that are beyond the scope and capabilities of the calculator.

We invite you to contact our office to schedule your free, confidential, no obligation consultation to review your unique financial situation and to further evaluate the restructuring plan best suited to your unique financial situation to eliminate your debt and provide you with the fresh financial start you deserve.

Enter values to review different payment plans.

  • Mandatory fields outlined in red.
  • Mouseover the “?” icon for descriptions.

This calculator uses the following interest rates:

  • Regular repayment: 17%
  • Consolidation Loan: 12%
  • Orderly payments: 5%
  • Consumer proposal: 0%
  • Bankruptcy: 0%
Total Regular Payments:

Fill in form fields to see repayment options.

Consolidation Loan:

Fill in form fields to see repayment options.

Orderly Payment of Debt:

Fill in form fields to see repayment options.

Consumer Proposal:

Fill in form fields to see repayment options.

Bankruptcy:

Fill in form fields to see repayment options.

Ask an Expert

When Faber invites you to ask an expert, we’re talking about our Licensed Insolvency Trustees (LITs). LITs are qualified, federally regulated experts who are held to a high standard of professional conduct and code of ethics when providing services and performing their duties.

LITs are the only professionals authorized to administer government-regulated insolvency proceedings that allow you to be discharged from your debt, such as consumer proposals and bankruptcies.

When you seek advice from an LIT, whether in our offices or online, you can be confident that you are dealing with someone who has the knowledge, experience and skills to be granted a license from the Office of the Superintendent of Bankruptcy.

Any questions?

Financial Stresses of Divorce

The cost of living is a major concern for Albertans, which is made higher when a marriage breaks down. When a couple divorces, there are potentially substantial legal fees involved in resolving how to split assets and debt, and income by means of spousal and child support. Further, there are increased costs of taking care of two households and childcare with the same income you had when you lived together.

Accumulating Legal Fees

According to a 2015 Canadian Lawyer Legal Fees Survey, in Western Canada legal fees alone averaged $2,164 for an uncontested divorce, while contested divorces averaged $18,777. On average, the legal fees in Western Canada to prepare a separation agreement was $2,657, a child custody and support agreement averaged $2,317, a spousal support agreement averaged $2,533 and a division of property/assets agreement averaged $2,802. A trial up to two days cost $19,995 on average and a trial of up to five days cost $33,425 on average in the Western provinces.

>When a court application is necessitated, a court can order that the party who lost the matter must pay the other party’s legal costs. However, in family law, the results of a court application or trial are often mixed and often neither of the parties emerges as a clear winner. For example, on parent may win custody of the children but the other may win on the amount of combined spousal and child support payable. As such the court may decline to order their party to pay the other’s legal costs.

In situations where the court finds one party to wholly win on the issues and awards costs against the unsuccessful party, then the costs that are set out in Schedule C to the Alberta Rules of Court usually cover a small portion of the winner’s total legal bill. For example, Schedule C provides a limit of recovery in uncontested matters (e.g., default judgment) to $300 – $800 plus disbursements. A contested application costs $500 – $1,500 plus disbursements. The winner of a half day Special Chambers application, where most contested interim custody applications are decided, would be entitled to $1,000 plus disbursements plus $500 for each additional half day. Costs are higher in a contested trial, which entails a pre-trial conference, trial preparation, and submission of a written argument, but they almost never cover the actual legal fees incurred. The client then faces a substantial balance of costs despite his or her success in court. This is not to mention the potential costs incurred to enforce a court order or to recover an unpaid cost order.

Potential Problems Couples Face When Dividing Assets

While Canadian divorce laws are governed by the federal Divorce Act, dividing assets is governed by each individual province. The court system strives to equally split assets that a couple earned collectively over the course of their marriage, but dividing assets is often a touchy issue when one person contributed more financially over the years and you have young children that you will like to see continue living in the matrimonial home.

Disputes Over Spousal and Child Support

Commonly, divorcing spouses earn unequal amounts and, as such, a separation or divorce will typically result in a period of spousal and child support, depending on the ages of the children, the length of the marriage, and your income differential, including if one spouse made career sacrifices to care for the children. Or, a person might need additional support because they can only work part-time. A judge will balance the need for support with the ability of the spouse to be self-sufficient.

If spousal support is paid as a result of a court order or signed separation agreement, then it is taxable to the recipient and deductible from the income of the payer. This is not the case for child support, which is not taxable or deductible for either party.

Additional complications arise with respect to how much each parent will pay for post-maturity support, when a child is no longer a minor but is unable to support himself or herself while attending post-secondary school, especially when living away from home.

Adding in Financial Difficulty

If one or both parties are having financial problems, further issues will arise. Permission from a partner is not required in order to file for bankruptcy, but you two may be in a better position to assess the resulting debt after the issues of marital property and spousal/child support are dealt with. Creditors may ultimately go after a partner regardless as debts cannot be truly split in a divorce and the second party may ultimately file for bankruptcy too.

Assets like you home, pensions and RRSPs are usually protected in an Edmonton bankruptcy or consumer proposal and legal fees resulting from divorce can be discharged, but any unsecured assets can potentially be repossessed by creditors. Certain unsecured debts, such as child and spousal support, cannot be discharged as a result of filing for bankruptcy or a consumer proposal in Edmonton.

Divorce Costs – A Common Problem

Statistic Canada no longer tracks the divorce rate in Canada, but in its last record, in 2008, approximately 40 percent of marriages ended in divorce and the average length of marriages was less than 14 years. The divorce rate in Alberta was a little higher than the country average, at nearly 42 percent. Divorcing couples are on average close to their prime earning years, in their early to mid-40s. Families usually have some significant assets and relatively young children, both of which make financial decisions in divorce all that more challenging.

Contact Faber Inc. for Debt Help

Often a consolidation loan in Edmonton is a viable option for couples experiencing financial stress while undergoing divorce, not the least of which is caused by the change in their finances, management of shared debts, and division of assets. A licensed insolvency trustee (LIT) at Faber Inc. offers a breadth of expertise, support and guidance, including help with debt consolidation loans in Edmonton. To find out more about your options for debt solutions, contact an Edmonton bankruptcy trustee at Faber Inc. We have 11 locations in Alberta and have served individuals and families for over two decades. We are available to help you too, at 1-877-944-1177.

Our Process

You’ve made the difficult decision to explore personal or corporate debt restructuring and now you’re wondering, “What happens next?”

First, let us say congratulations. It isn’t always easy deciding that you need assistance, but it’s more common than you know and the earlier you start, the better the chance for a positive outcome.

Next, understand that we want to make the entire process as easy and positive as possible. We will never judge or pressure you; we are only here to help.

Our process begins with information gathering. We have a responsibility to collect as many details about your financial situation as possible so we know exactly what we’re dealing with.

After we have collected the information, our team, including a Licensed Insolvency Trustee, will determine the most advantageous option and present it to you, carefully explaining all of the pros and cons.

After that, you are certainly welcome to take the information home and think about it to see if you have any further questions.

When you make the decision to proceed, our experts do the heavy lifting and work with you, side by side, until the project is completed.

Our process ends when your brighter days begin.

Payment calculator

Easily Compare Payment Plans

The payment calculator is a tool to provide you with a preliminary overview and comparison of the 5 different restructuring plans available for your consideration in determining the restructuring plan that is best for you. The 5 restructuring plans include maintaining regular monthly payments to creditors, consolidation loans, orderly payment of debts, consumer proposals and bankruptcy. The calculator is not comprehensive or exhaustive and is intended for demonstration and discussion purposes only. There are many additional factors and variables that require consideration that are beyond the scope and capabilities of the calculator.

We invite you to contact our office to schedule your free, confidential, no obligation consultation to review your unique financial situation and to further evaluate the restructuring plan best suited to your unique financial situation to eliminate your debt and provide you with the fresh financial start you deserve.

Enter values to review different payment plans.

  • Mandatory fields outlined in red.
  • Mouseover the “?” icon for descriptions.

This calculator uses the following interest rates:

  • Regular repayment: 17%
  • Consolidation Loan: 12%
  • Orderly payments: 5%
  • Consumer proposal: 0%
  • Bankruptcy: 0%

Total Regular Payments:

To see your debt repayment options please enter values in the form above.

Consolidation Loan:

To see your debt repayment options please enter values in the form above.

Orderly Payment of Debt:

To see your debt repayment options please enter values in the form above.

Consumer Proposal:

To see your debt repayment options please enter values in the form above.

Bankruptcy:

To see your debt repayment options please enter values in the form above.

Ask an Expert

Book an Appointment

Is it time for us to meet?

If you’re thinking about booking an appointment, then you’ve already taken the first step by deciding you need help or advice with your personal or corporate debt. That’s often the most difficult step. We understand and we’re here to help.

The sooner we meet, the greater the likelihood of a positive outcome. Call our toll free number, call the number of the office closest to you, or send us an email by filling in the form below.

We’re looking forward to taking the stress off your shoulders and helping you live life again.

1.877.944.1177