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Struggling with debt and live in the London Region?

By Steven DuBarry

Struggling with debt and live in the London Region? Knowing your options is your first step to becoming debt free

We know struggling with debt is difficult, but you do not have to handle it alone.   We believe it’s essential to have an advocate look out for your interests—not those of your creditors—in order to get the best possible result when making a consumer proposal or a bankruptcy. Understanding your options that are available to you when you decide to resolve your debt and get your finances back on track is the first step.

Why should you have an advocate structure a proposal for you rather than a Licensed Insolvency Trustee? There are often considerable advantages working with an intermediary that offers a wide range of services to help financial rehabilitate as well as being your advocate through the process to deal with your debt.

A proposal or a bankruptcy has to be administered by a Licensed Insolvency Trustee (LIT). It’s a good idea to learn about the different roles a LIT and a 4 Pillars debt consultant fulfill before you get started.

Role of a Licensed Insolvency Trustee (LIT)

A licensed insolvency trustee is an officer of the court licensed to administer proposals and bankruptcies. One of the responsibilities of an LIT is to notify your creditors that they have thoroughly examined your affairs in order to make sure that a proposal or bankruptcy is fair and reasonable, and to assure the creditors that you will be able to pay it. If you file a bankruptcy, your entire estate then vests with the LIT. Meaning they have power and control of what you are able to do with a number of your assets. The LIT can provide you with information and advice about these processes and ensure that your rights as well as the rights of the creditors are respected, but they cannot act as a financial advisor to a consumer struggling with consumer debt, nor to help a consumer get the best possible result when making a consumer proposal or a bankruptcy.

Role of a 4 Pillars Debt Relief Specialist

At 4 Pillars London, we strongly believe that every person is entitled to professional representation when preparing a consumer proposal or bankruptcy. In fact, we consider it essential that a qualified professional represent the client/debtor during the process. Unfortunately, the debt industry can be very confusing. Clients are not apprised on who represents who, how parties get paid, etc. Another downside of the system is that there isn’t adequate information provided to the debtor to make an informed decision on these important matters; and let’s face it, solving financial difficulties is a major decision with long-term consequences.

While only an LIT can legally file a proposal or bankruptcy, you always have the right to hire a debt consultant to protect your interests to help make sure that you get the best possible result. 4 Pillars consultants will advocate for you and only you throughout the process, with no conflict of interest.

Main differences between a Licensed Insolvency Trustee and a 4 Pillars Debt Relief Specialist are:

4 Pillars Debt Relief Specialist Licensed Insolvency Trustee
Free first consultation YES YES
Solely represents the interest of the debtor YES NO
Acts as an advocate for a consumer struggling with debt YES NO
Represents the debtor to get the best possible result from a consumer proposal YES NO
Provides a comprehensive credit rebuilding program to rebuild credit within 24 months YES NO
Utilizes various LIT’s to achieve the best result for the consumer YES NO
Has access to products that can remove a consumer proposal from your credit rating 5 years sooner than any company in the debt industry YES NO
Role in the industry is to provide financial education and rehabilitation to consumers YES NO
Is on officer of the court NO YES

A 4 Pillars consultant will help you to:

  • Reduce your debt by up to 80 percent
  • Work to make sure you retain your assets
  • Develop a comprehensive credit rebuilding plan
  • See you completely debt-free within 5 years

Before debt completely takes over your life, contact a 4 Pillars London debt consultant and learn about the options available to you. We can provide the support and guidance you need to become debt free, rebuild your credit, and achieve your future financial goals. We look forward to working with you.

Steven DuBarry

4 Pillars Debt Relief Specialist  London    
Phone: 226-777-5526

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