Filing for bankruptcy is a difficult decision, but the decision is made even harder when you’re a renter. The ability to rent a place to live is very dependent on an individual’s credit history, with bankruptcy taking a major toll on one’s credit. As the cost of living has increased tremendously, more people in Canada...Continue reading

I think you’ll really agree with me when I say that the debt industry is really confusing, especially when it comes to consumer proposal vs. bankruptcy. You have credit counselling societies, bankruptcy trustees, debt settlement firms, consolidation loans, consumer proposals, and a lot of different views on how you should deal with your debt. The...Continue reading

Bankruptcy is a frightening part of debt. But while most Canadians have a good idea of how bankruptcy works, they often don’t know that there are tons of great alternatives to bankruptcy in Canada. By the end of this article, you’ll know: The best alternatives to bankruptcy plus the pros and cons of each option....Continue reading

What happens when you do a consumer proposal? How much can I save with a consumer proposal? What is the downside of a consumer proposal? What is consumer proposal process? Understanding the Consumer Proposals Consumer proposals are a valuable resource for individuals struggling with credit card debt. These services offer a way to save on credit...Continue reading

“Well, I got a job and tried to put my money away. But I got debts that no honest man can pay.” — Bruce Springsteen It was June. I was attending a wedding of a friend and I met a man in his late 20’s, who had recently fallen into debt. It began with a...Continue reading

Your Survival plan – When your payments exceed your income. Let’s not beat around the bush, these are scary and stressful times. Remaining physically healthy is the priority — and thankfully, most of us seem to be achieving that.  However, very few of us can say our current or future financial situation is a healthy...Continue reading

This article explains how 4 Pillars is different from licensed insolvency trustees (previously known as bankruptcy trustees) and other debt consultants.  A lot of people in our Debt Bootcamp have been emailing me and asking questions about how 4 Pillars started and how 4 Pillars is different than licensed insolvency trustees and debt consultants. So today...Continue reading

When Should Someone Declare Bankruptcy? I am going to begin this by simply answering the question above and then explain the reasoning behind the answer:  In my opinion someone should declare bankruptcy when they have a huge amount of debt $250,000+, low income and no assets of any significant value.  This would be pretty much...Continue reading

Think Bankruptcy is Free? Think Again! Bankruptcy! Yeah, I know what that is…you get rid of all your debts, you walk away, your creditors get zilch, and you’ll never get a credit card again as long as you live! Your brother in law has spoken! Case closed. Well, that is unless you’d actually like to...Continue reading

Are You the Chicago Cubs? A Consumer Proposal Can Prevent You From Having to Wait a Century to Pay off Your Debt 108 years! That’s how many years passed between World Series victories for the Chicago Cubs. It’s an astonishing number when you consider that someone born in 1916 will have lived 100 years and...Continue reading