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Articles - Page 104

The Causes of Debt

By Bob Hauck

Who really needs debt help Much of the general public assumes that the people who need help sorting out their debt troubles are a bunch of irresponsible shopaholics. It’s easy to make that assumption too, since there is a lot of conspicuous consumption in our society—we are constantly bombarded with advertising messages every day encouraging … Continue reading The Causes of Debt

Consumer proposal vs bankruptcy? This Ontario family went from $120,000 to $19,500 in debt

By Paul Murphy

  The debt situation: A family contacted our 4 Pillars office in Barrie Ontario. They had $120,000K in unsecured debt. They were considering bankruptcy. Monthly payments: Their minimal debt payments had risen to a crippling $3,500 per month. Methods they had tried: The family accepted full responsibility for their debt. They had already looked at other debt solutions. … Continue reading Consumer proposal vs bankruptcy? This Ontario family went from $120,000 to $19,500 in debt

How to File Bankruptcy in Canada – Begin With These 8 Steps

By Paul Murphy

    Filing bankruptcy in Canada can be confusing. These 8 steps will make it simple and explain everything you need to know.  You probably already know the basics of bankruptcy in Canada. You know that it severely affects your credit rating. You may also know that you might get to keep a few assets … Continue reading How to File Bankruptcy in Canada – Begin With These 8 Steps

What does it mean to restructure debt?

By Laurence Herzenberg

Debt restructuring is the process by which a significant portion, usually 60-80% is extinguished while the remainder gets paid off over a period of up to 5 years interest-free. It is principally a method to avoid bankruptcy. Creditors like it because they get something in return on what they have lent out. In comparison, a bankrupt … Continue reading What does it mean to restructure debt?


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