As debt relief specialists, there are many times where we’ve spoken to people who co-signed for their friend’s loan. Whether it’s a loved one, friend, or associate, people often co-sign as a generous and friendly gesture. But now, they’re not paying. And you’re the one dealing with the consequences. There are consequences to co-signing a...Continue reading

Not making payments toward your debts can lead to serious consequences. The longer a debt goes unpaid, the more it grows as interest and late fees accumulate. You’ll also notice a gradual drop in your credit score as well. However, being unemployed can make managing these debts go from difficult to impossible. That’s why we’ve...Continue reading

International students have special considerations to keep in mind when holding debt within Canada. This article will answer all of the common questions asked to us by international students, and how to best recover from high debts before returning to your home country and/or beginning work.  How International Students Get in Debt  International students pay...Continue reading

What is a Personally Guaranteed Loan? A personally guaranteed loan is a type of loan where an individual guarantees repayment, typically with their personal assets, even if the loan is taken out for a business.  This means that if the business defaults, the lender can go after the guarantor’s personal assets, like their home or...Continue reading

Student loans are a serious undertaking, especially for those fresh out of college. Student loans like OSAP typically total to over $20,000 per student, making repayment long and difficult. With this, it’s no surprise that over 77% of Canadian graduates over 40 say they regret taking out their student loans.  When someone finds themselves unable...Continue reading

With overly complex language and a lack of early education, it’s no surprise that so many Canadians are financially illiterate and struggling with debt. Navigating Canada’s debt industry is already difficult for Canadian-born debtors, let alone immigrants living in Canada for the first time. That’s why we’ve created this article specifically for Canadian immigrants who...Continue reading

All information provided in this article is sourced from publicly available materials and is intended for general educational purposes only. It does not constitute legal advice. 4 Pillars is a debt advocacy firm and is not a law firm. For legal advice specific to your situation, please consult a qualified lawyer in your jurisdiction. A...Continue reading

When facing unbeatable debts, it’s not a bad idea to reach out to a debt relief company. A debt help professional can help you explore your options for repayment, such as debt consolidation, consumer proposals, and debt management plans.  However, it can be difficult to know who to trust when it comes to debt solutions....Continue reading

What government approved debt relief programs are there in Ontario and how can they help you pay off your debts? The short answer is…there’s very few. But what is there can be really effective for reducing your debts and making repayment possible. Nevertheless, they don’t come without drawbacks.   In this article, we will explore what...Continue reading

Victoria has one of the highest credit card debts per capita in Canada, at an average balance of $12,874, but can this debt be forgiven? Debt forgiveness is a best case scenario for most Canadians in debt, but it’s not easy to find. This article will cover what debt forgiveness really is and whether your...Continue reading