Debt is not just a financial vulnerability; it can weigh heavily on your emotions. If you’re feeling overwhelmed and unsure of your best option, we’re here to help.
Financial stress can take a toll on your business. If you’re unsure what to do next, we’re here to help you navigate your options with clarity and support.
Faber was founded in Edmonton and has grown to 14 locations across Alberta. As a locally owned and operated firm, we offer powerful, forward-thinking debt relief solutions for individuals, families, and business owners.
We pride ourselves on putting you first because, at Faber, we don’t just work for you; we work with you. We’re the only Alberta-based non-national insolvency firm specializing in corporate debt restructuring for small-to-mid-sized businesses.
Our exclusive focus on debtor services rather than creditor recovery means your best interests are always our top priority.
You’ll always speak directly with a Licensed Insolvency Trustee (LIT). That means no middlemen and no national call centres. Just trusted local experts committed to helping you move forward.
Navigating debt can be overwhelming, but knowing your options makes it easier to take control. Our Licensed Insolvency Trustees (LITs) help Albertans understand the right solution for their financial situation, whether it’s personal or business debt.
**Note: Each option has unique considerations. Learn more to find the best fit for your situation.
Best fit for: Business owners/directors with personal liability.
Debt Type Covered: Corporate debts; often unsecured, sometimes personal liability.
Impact on Credit: Similar to bankruptcy, can affect personal credit if personally liable.
Payment Structure: Negotiated payments to creditors over a set period.
Length/Timeline: Varies; based on negotiations.
Best fit for: Large corporations restructuring to continue operations.
Debt Type Covered: Large/complex corporate debts.
Impact on Credit: Primarily affects corporate credit; personal credit generally unaffected unless personally liable.
Payment Structure: Court-approved restructuring plan; may reduce obligations and extend timelines.
Length/Timeline: Varies; court-approved process.
Best fit for: Corporations needing to liquidate.
Debt Type Covered: Corporate debts; may include director liability.
Impact on Credit: Affects corporate credit; personal credit can be affected if director is personally liable.
Payment Structure: Liquidation of assets to satisfy creditors; business ceases operations.
Length/Timeline: Relatively quick; tied to liquidation.
A federally regulated professional who provides advice and solutions to help individuals and businesses manage debt while protecting their interests. At Faber, you work directly with an LIT from day one.
If you’re considering a fresh approach to your financial challenges, you may be wondering, “What happens next?” Our goal is to make the process clear, supportive, and as stress-free as possible.
You’ll never experience judgment or pressure, we’re here to help.
We provide solutions tailored to your unique circumstances.
In your initial meeting, we’ll take the time to get to know you and understand your situation. From there, we’ll guide you through each step, exploring the options that can move you forward with confidence.
Personal Debt Questions we might ask:
Do you own or rent?
How much money do you earn?
Do you have any savings?
What are your monthly expenses?
Business Debt Questions we might ask:
Do you own any other property?
What investments do you have?
Do you owe Revenue Canada any money?
Once we have a solid picture of your financial situation, we can recommend a path forward and begin helping you manage your debt and get back to your life.
We can help you weigh your debt-relief options so that you can make a confident and well-informed decision.