At Faber Edmonton Bankruptcy, the dedicated experts work 24×7 for their clients.
The company understands the unique needs of each client who needs bankruptcy help, which could often be in the nature of an emergency.
Faber Inc. Edmonton, AB Licensed Insolvency Trustee
As soon as you file for bankruptcy, you get an automatic stay which means the creditors are immediately prevented from collection activities. They cannot sue you either.
There are some exceptions nonetheless that our experts will discuss with you and prepare the right intervention strategies for you.
While bankruptcy wipes out most types of debts, there are exceptions like tax obligations, fraudulently obtained debts, student loans, and child support and alimony.
Other than these exceptions, you do not have the liability to pay off the debts.
You can also avoid foreclosure with the automatic stay brought about by bankruptcy.
With foreclosure or repossession brought to an end, you gain enough time to renegotiate with your lender. Should you fail to achieve this goal in the short term, the other option to keep your home and catch-up with current payments by filing for a Consumer Proposal.
As a debtor, when you file a proposal, you get a new repayment plan. Whether its car loan or missed mortgage or other non-dischargeable debts such as tax arrears, child support or alimony, you have now access to the repayment plan typically lasting from three to five years depending on your debt amount and income.
The lender cannot proceed with foreclosure as long as you continue paying according to the new plan.
While we have clients across near and far locations in Canada, those in Edmonton, Alberta will find us conveniently located.
As bankruptcy trustees, we have extensive experience and expertise in this field which has enabled us to serve a large number of satisfied clients.
Edmonton AB T6H 2K4