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4 Pillars
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4 Pillars Debt Relief Specialist – Know Your Options

By Shawn Frank

Licensed Insolvency Trustee (LIT), Credit Counsellor or 4 Pillars Debt Relief Specialists_Graphic


Struggling with debt is stressful, but you don’t have to deal with it alone. Understanding the options available to you when you decide to resolve your debt and get your finances back on track is the first step. It’s essential to have an advocate look out for your interests—not those of your creditors—in order to get the best possible result when making a consumer proposal.

There can be notable differences between a proposal you make to your creditors with an advocate on your behalf, and a proposal made to your creditors without your own representation. 4 Pillars Debt Relief Specialist guide you through the process of dealing with your debt and help you regain control of your finances through a comprehensive credit rebuilding and financial rehabilitation program.                                                                                                      

As a company, 4 Pillars is unique because it acts solely for the benefit of the debtor (client); our agents work with you to help create strategies to eliminate large portions of your debt, greatly reduce your monthly payments and receive the education and tools to help ensure you don’t face financial challenges again in the future.

This proven history of success is achieved in large part through carefully structuring consumer proposals for our clients. 97 percent of our clients successfully complete their debt repayment plan when it is structured by 4 Pillars as it is combined with the additional services we provide, such as financial literacy coaching, budgeting and credit rebuilding. As a result, a very high percentage of 4 Pillars clients avoid bankruptcy altogether. .

 Read on to learn about the difference between 4 Pillars and other debt relief options.

 Licensed Insolvency Trustee (LIT)

You are legally required to use a Licensed Insolvency Trustee (LIT) to file and administer a bankruptcy or consumer proposal. A Licensed Insolvency Trustee is an officer of the court licensed to administer proposals and bankruptcies. One of the responsibilities of an LIT is to notify your creditors that they have thoroughly examined your affairs in order to make sure that a proposal or bankruptcy is fair and reasonable, and to assure the creditors that you will be able to pay it. The dual role of the trustee is to investigate the debtors financial situation and to ensure that the debtors rights are not abused while also protecting the rights of the creditors. While the trustee can provide you with information and advice about these processes and ensure that your rights as well as the rights of the creditors are respected, his/her duty is not to act as an advocate for the debtor to obtain the best financial outcome for you.

Credit Counsellors

Another option you’ll come across when looking into debt restructuring are credit counsellors. They can receive up to 80 percent of their funding from creditors, and a client will usually repay 100 percent of what’s owed—plus added fees. This have the advantage of consolidating multiple payments into one payment but may not lower the payment sufficiently to help you successfully deal with your debt.  Many people who can not complete a dent management plan end up filing for bankruptcy.

4 Pillars Debt Relief Specialist

At 4 Pillars, we strongly believe that every person is entitled to their own dedicated professional representation when preparing for insolvency. In fact, we consider it essential that a professional represent the client/debtor during the process. Unfortunately, Canada’s insolvency system is not setup this way. Clients are not always aware of who represents who, how parties get paid, etc. A debtor needs to be fully educated on all the options to deal with debt and the role everyone plays in the industry to make an informed decision on these important matters; and let’s face it, solving financial difficulties is a major decision with long-term consequences.

While only an LIT can legally file a proposal or bankruptcy, you always have the right to hire a debt consultant to advocate for your interests and help make sure that you get the best possible result based on your unique situation.  4 Pillars Debt Relief Specialist will advocate for you and only you throughout the process, with no conflict of interest.

A  4 Pillars Debt Relief Specialist will help you to:

  • Create a plan to help reduce your debt by up to 80 percent
  • Where possible make sure you retain your assets
  • Develop a comprehensive credit rebuilding and financial rehabilitation plan
  • See you completely debt-free within 5 years and help ensure you never face financial challenges again

Getting out of debt is a stressful and often a confusing time. You deserve a chance to start over with a team that represents your best interests and future goals, not those of your creditors.

  • 4 Pillars has 15 years of experience and over 60 offices across Canada
  • 97 percent of clients successfully complete their debt repayment plan and remain financially stable.
  • It is estimated that close to 25% of people who file a consumer proposal or bankruptcy will face financial challenges again within 10 years.
  • 4 Pillars provides the most comprehensive credit rebuilding and financial rehabilitation program in Canada to help ensure our clients never face the financial and emotional stress of dealing with debt for a second time.

4 Pillars can provide the support and guidance you need to become debt free, rebuild your credit and achieve your future financial goals. We look forward to working with you.

At 4 Pillars Montreal our team of debt specialists offer compassion and respect.  We understand the toll your debt has taken on your life. It’s our goal to help you deal with your debt in the quickest, most efficient manner possible.  And we do it all without judgement or blame.  Once we’ve put together your Debt Settlement Strategy, we will create a plan to deal with your creditors to reduce your debt by up to 80%.  Depending on your situation your best solution may be budgeting or financial education, you may be best served by a debt consolidation, or perhaps a consumer proposal.

If you have concerns about your debt or if you’d like to discuss your debt settlement options, call us, at 4 Pillars Montreal (516) 600-0724.   Bernadette is still writing her rags to riches story, but we’re all confident she’s going to get the happily ever after she deserves.  With the help of 4 Pillars Montreal, you can too.

To learn more visit us at 4Pillars.caAnd don’t forget to sign up for our Debt Bootcamp.

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