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FAQs: Business Bankruptcy

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Personal Bankruptcy Protection in Edmonton & Central/Northern Alberta

Bankruptcy protection may seem scary and embarrassing to those facing deep financial pressures to repay unresolved debts. At A.C. Waring & Associates, we can help you unravel your situation, examine alternatives, point out available options and advise you of your possible solutions. 

Should bankruptcy protection be the best solution for you, here are some frequently asked questions and answers.

How Can I Survive This Financial Crisis?

Market conditions can easily cause the demise of a business without any fault of the owner. You do not have to wait until a secured creditor initiates receivership. Secured creditors can appoint a receiver to liquidate the assets of the business to pay off the bank loan.

Discuss your issues with us, and we can talk to you about options open (Commercial Proposal, repayment planning, consolidation, bankruptcy) to officially deal with the pressure of mounting debt. You do not have to wait until a secured creditor initiates receivership.

Secured creditors can appoint a receiver to liquidate the assets of the business to pay off the bank loan.

These are some indicators to seek professional restructuring advice and debt resolution as soon as possible:

  • Your business is having problems meeting payroll demands or operational costs
  • Your sales or income is diminished over time
  • A bank loan demand is made
  • Further loans are denied

Call us. Talk to us. We can help you now at 780-424-9944 or 1-800-463-3328.

Where To Find Us

Find us in the First Edmonton Place building on the corner of Jasper Avenue and 107th Street, behind the Corona LRT Station. Street meter parking is available along Jasper Avenue as well as 106th and 107th Streets, and paid surface parking is off of 106th Street, and underground parking for First Edmonton Place is off of 107th Street.

A.C. Waring &
Associates Inc.

  • First Edmonton Place
    410-10655 Jasper Ave NW
  • Edmonton, AB T5J 3S9

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What Are the Costs of Declaring Bankruptcy?

Bankruptcy

Not being able to cover all of your debt payments is undoubtedly stressful. In these moments it’s important to understand that you have options to help you regain control of your finances. One of these options could be declaring bankruptcy. Bankruptcy, conducted by a Licensed Insolvency Trustee, is the process of corralling your creditors and […]

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September 1, 2022
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Can You Include Payday Loans in Bankruptcy?

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If you’re in need of cash fast, you may take out a payday loan. These high interest, short-term loans could help address emergency costs like property damage, but they are hardly ever worth taking out unless you are absolutely certain you can pay them off by their first due date. But life happens, and you […]

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August 17, 2022
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Can Just One Spouse File Bankruptcy?

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Whether you move in as a couple or get married, your financial situation can change in several ways. Still, managing your debt should be your first priority. But if you struggle with managing your debts, will the consequences you face also affect your loved one? If you need to file for bankruptcy, will your partner […]

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August 17, 2022
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a couple sits in front of a computer and papers worrying about declaring bankruptcy

Not being able to cover all of your debt payments is undoubtedly stressful. In these moments it’s important to understand that you have options to help you regain control of your finances. One of these options could be declaring bankruptcy. Bankruptcy, conducted by a Licensed Insolvency Trustee, is the process of corralling your creditors and […]

Read More…

Payday loan application on tablet that person is holding

If you’re in need of cash fast, you may take out a payday loan. These high interest, short-term loans could help address emergency costs like property damage, but they are hardly ever worth taking out unless you are absolutely certain you can pay them off by their first due date. But life happens, and you […]

Read More…

Couple sitting by one another worried about debt and considering options such as one of them filing for bankruptcy

Whether you move in as a couple or get married, your financial situation can change in several ways. Still, managing your debt should be your first priority. But if you struggle with managing your debts, will the consequences you face also affect your loved one? If you need to file for bankruptcy, will your partner […]

Read More…

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