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4 Pillars Articles

made it to the top of a mountain


By Paul Murphy

Amortization  By PAUL MURPHY. Paul Murphy is a 20-year financial veteran and Managing Partner at 4 Pillars. What Is Amortization? Amortization is the length of time where you’ve agreed to have the loan paid in full. In general, the longer the amortization period, the lower your monthly payments. While most Canadians opt for long amortization […]

The FCAC – a finger in the dam?

By Reg Rocha

As I wrote previously, the Financial Consumer Agency of Canada (FCAC) was established in 2001 by Financial Consumer Agency of Canada Act to: “ensure that financial institutions, external complaints bodies and payment card network operators are supervised by an agency of the Government of Canada so as to contribute to the protection of consumers of […]

What is a Consumer Proposal

What is a Consumer Proposal?

By Jennifer Virani

We hear this question all the time; what is a consumer proposal, and how will it affect me?  A consumer proposal is a formal arrangement filed by a licensed insolvency trustee (LIT) under the Bankruptcy and Insolvency Act (BIA).  It is a viable alternative to bankruptcy if your debts do not exceed $250,000 (not including […]

Consumer Proposal

Who Should File a Consumer Proposal?

By Jennifer Virani

To put it simply – If you are facing an overwhelming amount of debt that you are unable to repay, filing a consumer proposal might be a good option for you to consider. You should, however, review all options available and compare the pros and the cons of each. It can be tricky to get […]

picture of people on a mountain getting out of debt

Your 2021 Guide to Getting Your Finances Back Under Control

By Paul Murphy

For millions of Canadians, the pandemic brought economic hardship. The worst is over. Now Canadians face a hard trek back to financial recovery. As Canada’s largest independent debt restructuring firm with over 60 offices in Canada, we have a unique view of Canadians in financial crises.  We’ve created this special guide to help you put […]

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