Debt is a continuously growing problem for households in Canada today, putting the economy at risk. To do our part, our debt counselling company, 4Pillars, seeks to end debt through a different approach to help those still struggling with it. Our services are specifically aimed at addressing the debtor’s needs in over the creditor’s unlike some...Continue reading

Why is there so much credit card debt We live in what is called a “Consumer Society” this means that products are bought on credit, so you have it now and pay for it later with interest this is called unsecured debt. It is easy to stay on top of your debt if you pay...Continue reading

When we think about filing bankruptcy, we often think that we will be in the hands of the court and protected from your creditors. In some ways this is true, but you will actually have to pay fees to the Bankruptcy Trustee and just because you are paying their fees, this does not mean they...Continue reading

At some point in your life you may find yourself in need of a financial home renovation. In some cases it may be a simple DIY fix with a fresh coat of ‘tighten the budget’ paint. However, for most of us, Debt Restructuring is a bigger project, one that should be left to the professionals....Continue reading

What is debt restructuring? I have many people asking – “is this just like going bankrupt with a trustee “ or ”is this like credit counselling? “ or “ is 4 Pillars a Debt Settlement company”? I understand why folks would be a little confused with all the terminology being used in the marketplace, but...Continue reading

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 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. One...Continue reading

 Photo credit: Len dela Cruz We recently asked our Debt Bootcamp students: what’s preventing you from getting professional help with your debt? The number one reason? They were “ashamed of their debt.” As a few of our students put it: “Fear…that I haven’t done enough myself. I created this mess I should be doing more to...Continue reading

  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 (like...Continue reading

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