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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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Filing for bankruptcy is a tough decision, but it does not have to mean losing everything, including your car. For many, a vehicle is essential for daily life, whether for commuting to work, running errands, or ensuring that family members get where they need to go.  In Alberta, you can typically keep your car during […]

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Sometimes, despite their best efforts to follow our debt payment plan, people find themselves unable to keep up. Collection agencies may inform us that if we cannot or will not come to an arrangement, they can take legal action to have our wages garnished, taking money out of our hands before we even see it. […]

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Many Albertans face financial hardships, and filing for bankruptcy can seem like a tempting solution. Understanding Alberta’s bankruptcy laws and the potential pros and cons involved can help you understand the process and determine whether it might be the right path for you. Bankruptcy is a legal process designed to offer relief to individuals who […]

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July 4, 2024
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A man in a sweater and collared shirt looking in his rearview mirror as he drives.

Filing for bankruptcy is a tough decision, but it does not have to mean losing everything, including your car. For many, a vehicle is essential for daily life, whether for commuting to work, running errands, or ensuring that family members get where they need to go.  In Alberta, you can typically keep your car during […]

Read More…

A person sits on the floor, studying a pile of bills and financial statements laid out in front of them. A calculator and notepad sit on top of the pile. The person is rubbing their face with one hand, clearly stressed.

Sometimes, despite their best efforts to follow our debt payment plan, people find themselves unable to keep up. Collection agencies may inform us that if we cannot or will not come to an arrangement, they can take legal action to have our wages garnished, taking money out of our hands before we even see it. […]

Read More…

Close-up view of a businessman pointing to the fine print of a stack of papers with a fancy pen as a person is about to sign it.

Many Albertans face financial hardships, and filing for bankruptcy can seem like a tempting solution. Understanding Alberta’s bankruptcy laws and the potential pros and cons involved can help you understand the process and determine whether it might be the right path for you. Bankruptcy is a legal process designed to offer relief to individuals who […]

Read More…

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