Average Canadian Debt Excluding Mortgage According to the most recent data from the Bank of Canada, the average debt held by Canadians, excluding mortgages, is $20,759. However, we did our own study of the clients we’ve worked with. They had an average unsecured debt amount of $51,394. While that paints a broad picture of household … Continue reading How Much Is Too Much Debt? We Analyzed 3000+ Canadian Households
This article is written by Paul Murphy, a 20 year veteran of the financial services industry and all-around knowledgeable guy. Debt is a common battle for millions of Canadians and you probably understand the causes and ways out, right? In some ways, debt and personal finance is really simple. But things often get complicated when … Continue reading 8 Lies About Debt You Probably Believe
When it comes to actually filing bankruptcy in Canada, it’s confusing for a lot of Canadians. Who do you contact? Where do you start? This is your guide to simplify bankruptcy and help you know where to start. We’ve helped thousands of Canadians deal with millions and millions of dollars in debt. But as researching this … Continue reading How do I file for Bankruptcy in Canada?
Last week, we published a “True Debt Story.” It was about a man in his fifties who lost his business, fell deep into debt, and was forced to start over. This was a true story from an actual 4 Pillars client. We asked him to tell us his story and we presented his words unedited. … Continue reading “I was 200K in Debt and Facing Bankruptcy” – A 4 Pillars Success Story
This article is by Paul Murphy, our Managing Partner with 15+ years of investment and banking industry experience. If you’d like advice about your particular situation, reach out here. How Debt Restructuring Works in Canada In simple terms, debt restructuring is a proposal made to your creditors where you offer to repay the debt on different terms than … Continue reading Debt Restructuring: How Does It Work in Canada?
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