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?

Income Tax Debt

Many Canadians owe the Canada Revenue Agency (“CRA”)-federal government-for unpaid income taxes. For some, this is their largest debt. Some reasons an individual may owe the CRA for unpaid income tax include:

  • Individuals who are self-employed with no income tax being deducted
  • Individuals who work more than one job, with insufficient income tax being deducted by the employers
  • Individuals that have redeemed RRSPs without having adequate income tax withdrawn by the RRSP administrator at the time of the RRSP redemption
  • Pensioners with insufficient income tax being deducted from their pension incomes

The CRA has very broad and extensive powers to recover amounts owed for unpaid income tax. The collection remedies available to the CRA include:

1.  Set-Off

The CRA may set-off amounts owed to you by the federal government such as goods and services tax (GST) rebates or income tax refunds to pay amounts that you owe to the CRA.

2.  Requirement to Pay or Garnishment

A Requirement to Pay (“RTP”) or garnishment may be issued by the CRA to a third party (bank or employer) to garnishee your bank account, wages or other income such as commissions, bonuses or vacation pay.

3.  Debt Certification with Federal Court of Canada

The CRA may register your income tax debt with the Federal Court of Canada to obtain a certificate of the amount you owe.  The certificate is like a judgement which makes your tax debt a public record.  The certificate enables the CRA to register your debt at Personal Property Registry, register a Writ against your home, recreational property, investment property, car or recreational vehicle.

4.  Seizing and Selling Assets

Once the CRA registers your income tax debt with the Federal Court it has the power to seize and sell your assets such as your home, recreational property, investment property, car or recreational vehicle through a court enforcement officer.  The proceeds from the sale of your assets will be applied to your income tax debt.

5.  Assessing a Third Party for Your Income Tax Debt

In some instances the CRA may assess a third party for your income tax debt.  The third party may be your spouse, business partner or a related corporation.

Income taxes owed to the CRA are unsecured debts, until such time that the CRA registers your income tax debt with the Federal Court of Canada and registers a writ against one or more of your assets.  The registration of the writ provides the CRA with a security interest (lien) against your assets and converts your income tax debt from unsecured to secured.

You may be surprised to learn that debts owed to the CRA are no different than any other unsecured debts, and may be included in a consumer proposal or personal bankruptcy debt restructuring plan.  But it is important that you obtain protection from the CRA before they register your income tax debt with the Federal Court of Canada and convert your unsecured income tax debt to a secured income tax debt.

Unpaid income taxes leaving you financially overstretched?

To obtain protection from the CRA and avoid having your assets seized and sold for the recovery of your income tax debt, give us a call. There are options for income tax debt. Let’s find the best one for you.

I appreciate your patience, kindness and understanding of my situation.

Derrick C.

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