Both Division 1 Proposals and bankruptcy are legal debt solutions under Canada’s insolvency laws.
However, they serve different purposes.
A Division 1 Proposal focuses on restructuring and negotiated repayment.
Bankruptcy eliminates most unsecured debts but may involve the liquidation of certain assets.
Learn more about personal bankruptcy and debt relief options.
A Faber Licensed Insolvency Trustee guides businesses through the Division 1 Proposal process from beginning to end.
They will:
Their role is to provide clarity, structure, and professional guidance so businesses can make informed decisions about their financial future.
A Division 1 Proposal provides individuals with higher levels of debt a structured opportunity to resolve financial obligations and avoid bankruptcy.
By negotiating repayment terms with creditors, individuals may be able to stabilize their finances and move forward with greater certainty.
To understand whether this option may apply to your situation, visit our Personal Division 1 Proposal page.
Ready to explore your options?
Book a consultation either in-person or virtually with one of our Licensed Insolvency Trustees anywhere in Alberta today.
