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. Ryan, age 50, (name changed for privacy) ran a successful ad agency in a medium-sized Canadian city. Despite being a respected local business owner, his company began...Continue reading
What happens when a person files for Bankruptcy? If you have a large amount of debt that is too much to bear, you may be considering filing for bankruptcy. Many people do not understand what is all involved in a bankruptcy so I wanted to take a few minutes today to give you a brief...Continue reading
Mirror Mirror on the Wall: Who has the Scariest Debt of All? In all of the fairy tales we read as children there was always a hero and a villain. A wicked witch, an evil step mother, an ogre, a troll, or a cruel king, good versus evil. These were classic tales for the ages,...Continue reading
Debt Night Mares: The Dream that Doesn’t End When You Wake Everyone has experienced a stress dream of some sort. You’ve dreamt you arrived late for a big test, you’ve shown up for work without your clothes on, you’re running from some unseen entity. Stress dreams happen when your subconscious mind is trying to sort...Continue reading
Bankruptcy Trustees: Know your friends There’s an old saying that you don’t really know who your friends are until you need them. When you’re experiencing financial difficulties it’s easy to see who your real friends are… they’re the ones still taking your calls! Now these friends will want to help, offering sage advice on how...Continue reading
Separating Debt Fact from Debt Fiction There’s a lot of information flying around the internet. It can be a little overwhelming when you need to distinguish fact from fiction. FACT, no matter how many times you share that notice on your Facebook page, Mark Zuckerberg is NOT sending you a million dollars. Sorry. Neither is...Continue reading
Why Avoid Bankruptcy ?? It may seem like nobody should need a reason to avoid bankruptcy, but compared to constant calls from creditors or the humiliation of having a perpetually empty wallet, bankruptcy can start to look less intimidating. If you are thinking about declaring bankruptcy, give yourself enough time to make sure that you...Continue reading
WHAT IS DEBT RESTRUCTURING? Your credit-card debt has piled up, the cards are maxed out, perhaps you’ve borrowed money to pay off bills, maybe you’ve gone to the limit on a line of credit and your household debt is completely out of control. You’ve decided it’s time to stop the spiral of debt consuming most...Continue reading
Must your credit rating be protected at ALL costs? We live in a society of credit. Don’t agree, try renting a car, checking into a hotel or making an on-line purchase without a credit card. Banks almost force us to use credit because they know a large percent of people will not pay the account in...Continue reading
When faced with bankruptcy, a family in Ontario wanted to know their options. Here are the 6 steps we recommended, reducing their debt from $57K down to $15K. The bankruptcy situation The financial hardship began when Sara (name changed for privacy) became sick and took a leave of absence from her work. She was away from work for 6...Continue reading
