Personal Bankruptcy Protection in Edmonton & Central/Northern Alberta
Bankruptcy Protection may seem scary and embarrassing to those who are facing deep financial pressures to repay unresolved debts. At A.C. Waring & Associates Inc., 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.
What Caused this Debt Crisis?
Many individuals struggle with repaying their debts. Here at A.C. Waring & Associates Inc., we realize some conditions may be beyond your control and can lead you deeper into debt. These circumstances might include:
- Losing a job, marital separation, divorce, becoming ill, gambling, needing costly medications not covered by benefits, natural disasters not covered by insurance and investment losses.
- Marriage to a spouse already carrying debt overload and/or living with large wedding expense obligations.
- Shopping addictions: sometimes needs and wants get blurred when we feel we “have to have it.”
- Co-signing a loan for a friend or relative who is not financially stable and you wind up having to pay for the loan.
- Making minimum credit card payments instead of paying full amounts each month.
Other times, a combination of internal and external circumstances create monetary challenges. Buying a home with a large mortgage, expecting a baby, buying a new car, or failed investments can all lead to increased debt. Many of you will also have financial dependents to care for such as children, your spouse, or elderly parents who are having financial difficulty. We understand these things happen.
When it comes to getting debt help, it does not matter whether a situation beyond your control brought you into financial hardship or if your problems arose from how your finances were handled. The professionals at A.C. Waring & Associates Inc. can talk to you about the alternatives you have available and can suggest various solutions that work for you.Back to top
Who Turns to a Bankruptcy Trustee?
Financial hardship can come at any time. Most people turn to a Trustee when creditors call their loans in, credit card companies no longer allow more credit, utility companies threaten cable, electric or gas discontinuation, or businesses cannot meet payroll or operational payments.Back to top
How Can the Edmonton Bankruptcy Trustees at A.C. Waring & Associates Inc. Help Me?
A Licensed Insolvency Trustee takes the burden away from you. No more creditor calls, collection notices, foreclosure notices, repossessions or debt-collection suits. Once a bankruptcy is formally filed, the Trustee will contact your creditors and collection agency calls to your home should stop. We are federally licensed and can act on your behalf to derive the best financial solution for your circumstances. We will review your entire financial situation and help you understand what options are available. We can help you obtain immediate financial direction, counselling, and situation-changing debt decisions. We are professionals in debt management, regulated through the Bankruptcy and Insolvency Act.Back to top
What if I’m too Embarrassed to Ask for Help?
You are not alone in your financial predicament and our consultation is strictly confidential. More people than you think are, or have been, in a financial crisis situation. We have served thousands of debtors over the years, and our staff is highly sensitive to the difficult challenges faced by those in need every day. The risk of not obtaining professional help may include foreclosure, law suits, or a formal garnishee of wages by creditors.
The other risk of not getting professional help to solve your indebtedness includes running out of money, even if you are working three jobs. Get professional assistance now.
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If I Choose Bankruptcy, How Much Will it Cost?
Costs are federally regulated. Costs are individual to each situation including family size, assets and income. Also, if you have surplus income while bankrupt, you may be required to make some additional monthly payments toward your debt.Back to top