Managing your finances as a veteran in Canada isn’t easy. A recent Global News article reported that Veterans Affairs Canada handed out overpayment notices, and could need to pay back thousands of dollars in Income Replacement Benefits (IRB). Canadian soldiers often leave the military with injuries, health concerns, or gaps in steady employment. The rising...Continue reading
Congratulations on graduating, it’s a major achievement! But the last thing you should have to worry about post-graduation is debt. However, you may be rightfully concerned about your debt while applying to get a post-graduate work permit (PGWP). It is something you must apply to very shortly after completing your studies to stay in Canada....Continue reading
International students have special considerations to keep in mind when holding debt within Canada. This article will answer all of the common questions asked to us by international students, and how to best recover from high debts before returning to your home country and/or beginning work. How International Students Get in Debt International students pay...Continue reading
Are you struggling with unpaid debt in Kelowna, BC? Know that you aren’t alone! In 2023, Kelowna ranked number 6 in the list of Canadian cities with the highest consumer debt per capita with an average of $100k+ owed per person. There’s no question that debt is a prevalent issue among Kelowna residents. We know...Continue reading
Consequences of Being in Debt You Didn’t Know About: Psychological and Financial Debt is an all-too-common burden for many individuals and families in Canada. While the financial pressures of debt are widely acknowledged, there are numerous lesser-known consequences that can significantly impact various aspects of your life, both emotionally and practically. In this article, we...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
How to Live a Debt-Free Retirement Retirement is the perfect time to spend your hard-earned savings. But it will be difficult to do so if you start this new chapter of your life with debt. Unfortunately, retiring with debt is actually quite common, with 4 out of 10 Canadians doing so. Though retirees carry less...Continue reading
As I wrote previously, the Financial Consumer Agency of Canada (FCAC) was established in 2001 by Financial Consumer Agency of Canada Act to: “ensure that financial institutions, external complaints bodies and payment card network operators are supervised by an agency of the Government of Canada so as to contribute to the protection of consumers of...Continue reading
As a debt restructuring specialist, I spend all my days working with and for Canadian consumer debtors facing insolvency. When you approach insolvency, you are basically seeking to negotiate with your creditors to relieve or eliminate your debt, and our job is to help our clients understand this process and make the best decisions possible...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. In a sea of sharks, who do you trust? In this post, I do a comprehensive tour of all of the debt options in Canada. It’s a...Continue reading
