Receiving a demand letter from the Canada Revenue Agency (CRA) is a stressful experience. Whether it’s due to unpaid taxes, penalties, or other debts, it’s important to understand how to respond. In this article, we outline the steps you need to take when dealing with a demand letter from the CRA. We also include a...Continue reading

Bankruptcy has serious consequences on an individual’s financial standing, which is why many Canadian debtors consider switching from bankruptcy to a consumer proposal instead. It is well known that a consumer proposal has less of an impact on your credit than bankruptcy, but is switching to a consumer proposal possible? In this article, we’ll explore...Continue reading

4 Pillars urges House of Commons Finance Committee to review Canada’s insolvency legislation: Be more debtor-centered. Reg Rocha December 4, 2020 I have written on many occasions about the rising levels of household debt in Canada. As a nation, we hold one of the highest consumer debt levels in the G20. Just prior to the...Continue reading

This post is written by 4 Pillars’ managing partner and financial literacy expert Paul Murphy. Paul has 20+ years of experience in the banking and financial service industry.  I’m happy to report that my book, Beating the Debt Game, is complete!  Thank you to all the readers that have emailed me over the years, sharing...Continue reading