This article is written by Paul Murphy, our Vice President and financial literacy expert. Paul has over 20 years experience in the banking and financial service industry. This article was last updated on September 20th, 2018.
Last year, we helped thousands of Canadians restructure over XX in debt.
As you can imagine, we get a lot of the same questions from people trying to understand their debt options.
Today, I’d like to share a few recent resources we’ve created to help you decide if 4 Pillars is the right choice for you.
Where can I find 4 Pillars credit
counselling reviews?
To ensure the accuracy and transparency of 4 Pillars reviews, we use a third-party site called Trustpilot. We’re proud that with nearly 1000 reviews, we’ve earned a 5-star review rating.
In case you don’t know, TrustPilot is like Yelp for service businesses—reviews are verified and we have no control over these reviews.
You can read nearly 1000 reviews from Canadians we’ve helped here.
We also published this 4 Pillars review video case study. It shows how we helped a man in his 50s navigate a 200K debt crisis after losing his business.
Does 4 Pillars charge fees?
A common complaint by trustees and credit counsellors is that 4 Pillars charges a fee for our service. It’s true that we charge a fee. But it’s misleading for trustees and credit counsellors to tell consumers that they do not charge fees—they get paid for helping you, just in hidden ways.
For example, the fees charged by credit counsellors are usually built into the monthly payments you make that get distributed to your creditors. Most credit counsellors charge a 15% processing fee based on the amount of debt you have, and you usually repay 100% of the amount owed.
Alternatively, our fee is based on the pre and post restructuring work we complete, in addition to the work your 4 Pillars consultant does representing you, to ensure your restructuring plan is successful and fits your budget.
We understand that fees can be a barrier to many people. If you’re already deep in debt, how can you afford a fee?
But once you see the amount of debt we can help you reduce, you’ll see that our fees are tiny fraction of what you’ll save by entering our debt reduction and credit rebuilding programs.
If you’re still confused by 4 Pillars’ fees and why we charge fees while credit counsellors and trustees appear to be free, we encourage you to book a free meeting with your local 4 Pillars office. You can see the numbers, get a second look at your situation, and make an informed choice.
How does 4 pillars work?
Is 4 Pillars in good standing with the Better Business Bureau?
Yes. We have local offices across Canada and each office is registered with the Better Business Bureau. You can search for your local office here.
