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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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Dealing with overwhelming financial responsibilities can be a significant cause of stress and hardship. When you have significant debt and do not know where to turn, you may have considered bankruptcy. This is the legal proceeding where most, or all, of a person’s debts are dissolved with the help of a Licensed Insolvency Trustee, allowing […]

Read More…

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Losing a loved one is always difficult, and it can be even harder when you have to handle their finances. If you are their power of attorney (POA) while they are still alive, you could be responsible for managing various debts such as utility bills, subscriptions, taxes (personal and property), credit cards, loans, and mortgages. As the […]

Read More…

Credit cards help cover costs in advance—they do not provide free money. They are a loan that requires repayment within the credit agency timelines, which many people can struggle with.   If you are struggling to pull yourself out of credit card debt, there are strategies you can use to take control of your situation, including […]

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