What is a Personally Guaranteed Loan? A personally guaranteed loan is a type of loan where an individual guarantees repayment, typically with their personal assets, even if the loan is taken out for a business.  This means that if the business defaults, the lender can go after the guarantor’s personal assets, like their home or...Continue reading

With overly complex language and a lack of early education, it’s no surprise that so many Canadians are financially illiterate and struggling with debt. Navigating Canada’s debt industry is already difficult for Canadian-born debtors, let alone immigrants living in Canada for the first time. That’s why we’ve created this article specifically for Canadian immigrants who...Continue reading

What government approved debt relief programs are there in Ontario and how can they help you pay off your debts? The short answer is…there’s very few. But what is there can be really effective for reducing your debts and making repayment possible. Nevertheless, they don’t come without drawbacks.   In this article, we will explore what...Continue reading

Here’s a breakdown of the 10 best debt relief companies in Canada using review data available on the independent site Trustpilot. About the author: Paul Murphy is a debt and credit rebuilding expert at 4 Pillars. 4 Pillars Financial Wellness is the largest independent debtor advocacy firm in Canada focusing on financial education and financial...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

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

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

As a parent, one of the things you are most likely to teach your child is that they shouldn’t touch a hot element on a stovetop because it will hurt them. However, it is just as important to teach them about other less obvious things that can hurt them as well, such as mismanaged finances....Continue reading

Who does your taxes? While there are a few folks who take the time to complete their tax returns all by themselves, most people opt to use an accountant. I certainly don’t blame them. Tax preparation is often more art than science, and having an amateur or passerby complete your taxes will at best produce...Continue reading

4 Pillars Debt Solutions – The Best Choice for Debt Relief 4 Pillars Debt Solutions of Sudbury has extensive experience in debt relief and an approach to debt restructuring that always puts YOU first, not your creditors. It’s confusing knowing where to turn when you are struggling with debt and looking to get your finances...Continue reading