Canada’s bet with debt.  Back in 2008, the world was knocked into one of the worst recessions we had seen in decades. Canada was by no means immune. Over-leveraged Canadians lost property and businesses, retirement investments tanked and consumer confidence plummeted. History tells us this kind of downward spiral is very dangerous.  To introduce some...Continue reading

Canadians not as confident about debt loads as Bank of Canada. October 24, 2018: Today, Bank of Canada Governor Stephen Poloz raised the benchmark interest rate a quarter-point to 1.75 per cent. In this announcement, Poloz was clear that this measure was taken to achieve a relatively consistent inflation target of between 2.5% and 3.5%....Continue reading

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...Continue reading

Inflation squeezes those in debt even harder. September 5, 2018: Today, the Governor Stephen Poloz, released the Bank of Canada’s most recent decision on national interest rates. As expected, he indicated there would not be a rate increase at this time, even while inflation rates continue to hover at the outer edges of their comfort...Continue reading

20-year financial veteran Paul Murphy tackles the tough questions about debt consolidation. From the impact on your credit rating to typical rates for consolidation loans, you’ll learn the pros and cons of using debt consolidation. Debt consolidation. It’s a simple concept—you get one big loan to wipe out lots of little debts—but a technique that...Continue reading

This report was written by Paul Murphy, a 20-year financial veteran and managing partner at 4 Pillars.  In this report, you’ll find a data-backed picture of household debt and bankruptcy in Canada. Key questions answered in this report: What is the average household debt in Canada? What are the signs of a typical Canadian family facing...Continue reading

20-year financial veteran Paul Murphy explains his system for building a realistic money management plan. If you’d like an expert to review your debt situation, you can contact your local 4 Pillars office here.  After working in the finance industry for 20 years, there’s one truth that seems to be proven again and again: people...Continue reading

La lutte contre la dette peut créer un stress énorme, mais vous n’avez pas à le faire seul. La première étape est de mieux comprendre les options qui vous sont offertes au moment ou vous auriez pris la décision de résoudre vos dettes et remettre vos finances sur la bonne voie. En ce moment, il...Continue reading

  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...Continue reading

This past July, after seven years of leaving its key interest rate steady at near-historic lows, the Bank of Canada increased its overnight rate by 0.25 percentage points to 0.75 percent. In September, the bank raised it another quarter-point to 1.0 percent amid strong economic growth. While we’re unlikely to see another increase this year, they left...Continue reading