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?

Understanding Your Credit Score

Your credit score is a very important aspect of your financial health. It is a measure lenders consider to be your default risk, as the risk premium that must be added to the price at which you borrow. Your credit score or credit rating is something that can take years to build up slowly and tumble down ever so quickly. When you apply for a credit card, personal loan, mortgage, certain insurance (some provinces have restrictions), for business needs or even a cell phone, your credit score matters. It can make the difference between getting the terms you are seeking (e.g., the interest rate and/or credit limit) or being approved for a loan or credit at all. Even getting a place as a tenant or hired for a contract job can be challenging if your credit rating is poor. Having knowledge about how to build and maintain good credit rating is critical. Also important is how to avoid a falling credit score.

What is a Credit Score?

A credit score is a three digit number which takes into account information from your credit history. It also factors in your account bill payment history, which is not in the credit report. The score ranges from 300 to 900, with a higher score being better. A score of 900 is practically impossible, but 750+ is excellent, 700-749 is good, and 650-699 is a fair score. Below 650 is poor and below 600 is bad. You can’t assume that your score is good (or isn’t good) because your bills are (or aren’t) always paid on time. Your credit score can change each month as your credit report is updated and it could contain errors as well.

How is a Credit Score Calculated?

A credit score is derived from a mathematical formula that takes a number of factors into consideration. It gives the highest weight (at 35%) to your payment history. Outstanding debt compared to your income is also factored in (at approximately 30%), such that the number is higher as you have less debt compared to your income. Credit history accounts for about 25% of the score, and a higher number is awarded to longer held accounts. New accounts that are opened are also considered (at approximately 10%).

Because the two major credit bureaus in Canada have slight variances in the version they use based on the FICO formula (from the Fair Isaac Corporation), their scores can vary a little for the same person. In response, lenders may use the middle score for reference if a score is deemed borderline for extending the credit.

Can Lenders Arrive a Different Credit Score?

Yes, lenders can come up with their own credit scores that can be different from the credit bureau’s scores and a little different from each other as well even if they are created at the same time using the same information in your credit report. One lender’s viewpoint of your default risk might vary from the next, in putting more weight on some information than other information. A lender can also review other factors, such as you income level, stability of employment, how long you have lived at your residence, and the value of any assets you own. The purpose of the loan also matters in the lender’s assessment of your financial footing, such as whether you wish to take out a mortgage to finance a new home or renovation project or to consolidate your loans to avoid further credit card debt or a potential bankruptcy.

What Helps Your Credit Score?

You can build up your credit score over a long period of time by taking out credit regularly and paying it in full on time. By using your credit, you can create a good borrowing history, especially by keeping your outstanding debt low by using little of the credit you are approved to use.

What Hurts Your Credit Score?

One of the drawbacks of credit is that it is all too easy to use it and fail to repay the amount owed. If you overextend your credit, fail to repay what you owe in full, or ignore overdue bills, your credit score can quickly decline. Making the minimum payment due is critical but you are better off paying in full to prevent the amount of debt you will have outstanding from rising relative to your income.

A high number of inquiries made for credit applications over a short period (e.g., 30 days) can hurt your credit score. While not all hits are viewed negatively (e.g., prescreening or monitoring of accounts), several inquiries made by a lender, landlord or employer can each be considered hits against your credit score, so it is best to limit or hold off on the number of new inquiries made.

How Can I Get My Credit Score?

You can request your credit score from Equifax Canada and Transunion Canada for a fee. These credit bureaus are private companies governed by regulations that sell credit reports to their members, such as banks, credit unions, other financial institutions, credit card companies, auto leasing companies and retailers. Usually, by signing an application for credit, you allow the lender to access your credit report when you first apply and while the account remains open. The two reporting agencies may have different information about you in their files and so it is best to review the information on file at both places.

Your credit score can be requested through any means for a fee and you can also request a free annual credit report once annually. Your own inquires do not hurt your credit score. The free credit report can only be requested by mail, fax, telephone, or in person and received by mail or in person. There is a fee for all online access to information at Equifax and Transunion. When ordering by mail or fax, you must provide a written request using the available forms and two pieces of acceptable identification. When ordering by telephone, you must confirm your identity on the automated system by providing your Social Insurance Number, answering a set of personal and financial questions and/or giving the number of a credit card you own.

How Can Faber Inc. Help Me Raise My Credit Score?

At Faber Inc. we can start by reviewing your credit history and credit score with you. We understand how credit information can help or hurt you financially. We can provide debt solutions such as credit counselling in Edmonton, a debt consolidation loan in Edmonton or other options, such as an order payment of debt. Your Edmonton bankruptcy trustee can help you to avoid personal or business bankruptcy in Edmonton. Contact us at Faber Inc. for help today 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