Review your options to find the debt restructuring plan that is right for you to become debt free.

Let Faber Guide You through Your Personal Bankruptcy

At Faber, we understand that declaring bankruptcy may be overwhelming, especially when it comes to understanding all of the advantages and disadvantages, the benefits offered in a personal bankruptcy, the personal bankruptcy process and all the legal terminology.

Our Trustees have extensive experience and knowledge in administering personal bankruptcies. Faber Inc. has helped thousands of Albertans resolve their financial difficulties through a personal bankruptcy.

A licensed Trustee will meet with you to explain the personal bankruptcy process, your rights, creditor protection, and to collect your financial information. Our Trustees take the time to properly explain the entire bankruptcy process and answer all of your questions without the use of confusing legal terms and jargon.

We will prepare all the required forms and reports for your signature. We will file the bankruptcy and notify your creditors.

We will work with you throughout the entire bankruptcy process to ensure your bankruptcy is concluded in an orderly and timely manner.

Step 1 )  Call Faber Inc. to schedule your free, confidential, no-obligation initial consultation with a Faber Trustee.

Step 2 ) Meet with a Faber Trustee for the initial consultation to complete the application form, review all of your options and assess whether a personal bankruptcy is the right option for you. The information gathered during the initial consultation will assist your Faber Trustee in providing you with an estimate of the length of your bankruptcy and an estimate of the cost of your bankruptcy.

Step 3 ) Attend a second meeting with your Faber Trustee to complete a thorough review and receive a detailed explanation of the personal bankruptcy documents, to further review the Personal Bankruptcy process and to sign the personal bankruptcy documents.

Step 4 ) We electronically file your personal bankruptcy with the Office of the Superintendent of Bankruptcy and send notification to your creditors. Payments to unsecured creditors stop and you receive immediate protection from your unsecured creditors.

Step 5 ) You perform the duties required of you during the length of the bankruptcy which includes:

  1. Completing a monthly income and expense statement for submission to your Trustee on a monthly basis for the length of your bankruptcy;
  2. Making monthly payments to your Trustee as prescribed under the Bankruptcy and Insolvency Act;
  3. Attending two (2) mandatory financial counselling sessions to assist you in developing proper money management techniques and to gain a further understanding of the circumstances that contributed to your financial difficulties and your bankruptcy;
  4. Providing your Trustee with income tax information; and
  5. Assisting your Trustee in the administration of your bankruptcy if required.

Step 6 ) Upon completing all of your duties during the length of your bankruptcy, you will receive your discharge from bankruptcy, which releases you from any further legal obligation with respect to your debts and provides you with a fresh financial start.

A complete and detailed review of your personal financial situation by a Faber Trustee is required to determine whether a personal bankruptcy, consumer proposal or other debt restructuring plan is right for you.

Call Faber Inc. in Edmonton today to schedule your free, confidential, no-obligation consultation. Let us explore your available debt restructuring options with you so you can receive immediate relief from the legal actions of your creditors.

introduction to personal bankruptcy

steps in filling a personal bankruptcy

advantages & disadvantages

comparison to consumer proposal



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