Debt Consolidation. It’s a term which tends to cause a lot of concern and confusion. We are commonly asked: “is debt consolidation a scam?”, “how does debt consolidation affect your credit?”, “should I do it?”. The truth is, most Canadians don’t really understand debt consolidation, or how it can make paying off debt easier. In...Continue reading
A question we often get asked when starting the consumer proposal process is what happens after filing a proposal. There’s a lot of things that will and can happen during the consumer proposal process, which is why we’ve decided to cover it all here today. In this article, we’ll take you through each step of...Continue reading
20-year financial veteran Paul Murphy breaks down a common question from our clients: should you use things like consumer proposals bankruptcy or debt consolidation or preserve your credit score? I recently sat down with David Moffatt from 4 Pillars’ Halifax office and Ryan Brown from 4 Pillars’ Muskoka & Parry Sound offices on our 4 Pillars’ podcast Beating the Debt Game....Continue reading
20-year financial veteran Paul Murphy tackles the tough questions about debt consolidation. From the impact on your credit rating to typical rates for consolidation loans, you’ll learn the pros and cons of using debt consolidation. Debt consolidation. It’s a simple concept—you get one big loan to wipe out lots of little debts—but a technique that...Continue reading
Although Canadians are carrying fewer credit cards, they’re carrying increasingly higher balances, according to a survey conducted by TransUnion. More alarming, consumers seem to be more focused on the points they are earning rather than the interest they are racking up. Credit cards are an important way to build credit history, they can be useful...Continue reading
Canadian households are carrying more debt today than ever before. According to a Statistics Canada study beginning in the early 90s, the amount of household debt has risen consistently. In fact, by 2012, 71% of Canadian families were living with debt; mortgage and consumer debt including credit cards, lines of credit and other loans. If...Continue reading
How to Repay your Ontario Student Assistance Program (OSAP) Congratulations graduate!!! You’re finally finished with exams, study sessions, and all-nighters fueled by bad coffee. As you embark on this new phase of your life, where will the journey take you; an exciting new job? Time off to relax and travel? Perhaps you’re not sure of...Continue reading
What is Debt Consolidation? Debt consolidation is a form of debt relief often used to avoid failing to pay interest on an existing debt. It is commonly used by people in order to pay off loans or eliminate their own credit card debt. The act of debt consolidation usually requires the debtor to take out...Continue reading
Debt can be overwhelming, especially as it seem like bankruptcy is the only answer once things get bad. But as this guide will show you, you actually have many more alternatives to debt repayment than you think.Continue reading
Rags to Riches: A Debt Help Success Story in Brampton When you’re struggling with debt it can feel like everyone and everything is working against you. So, who’s working for you? I am. I’m Frank Eichinger, your 4 Pillars Debt Specialist in Brampton. I’ve helped both small businesses and individuals get out from under their debt. Regardless...Continue reading
