While consumer proposals are commonly associated with licensed insolvency trustees and debt relief specialists, many wonder if it’s possible to handle it on their own to save money. A consumer proposal is a legal agreement to pay back some of your debt and, in the process, be protected from creditors. The rules around debt resolution...Continue reading

Facing wage garnishment is a stressful and overwhelming experience, adding strain and uncertainty to your already difficult financial situation. In Canada, creditors have the legal authority to garnish wages to recover unpaid debts. This means a set amount of money will be taken out of your paycheque and given to creditors each payday.  If you’re...Continue reading

If your debts are too high for you to pay off, a consumer proposal may be a vital avenue to starting a debt-free life — however, many are cautious about starting a consumer proposal when their debts are co-signed. Can you start a consumer proposal if the debt is co-signed? Will the co-signer be forgiven...Continue reading

Receiving a demand letter from the Canada Revenue Agency (CRA) is a stressful experience. Whether it’s due to unpaid taxes, penalties, or other debts, it’s important to understand how to respond. In this article, we outline the steps you need to take when dealing with a demand letter from the CRA. We also include a...Continue reading

Bankruptcy has serious consequences on an individual’s financial standing, which is why many Canadian debtors consider switching from bankruptcy to a consumer proposal instead. It is well known that a consumer proposal has less of an impact on your credit than bankruptcy, but is switching to a consumer proposal possible? In this article, we’ll explore...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.  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

Below, you’ll hear a 4 Pillars review from a single mom with three daughters who was deep in debt. She reached out to her local 4 Pillars office. This is her review of our 4 Pillars office in Newmarket Ontario. The other day, a nice woman from Newmarket Ontario sent us a review via email....Continue reading

Benjy from our 4 Pillars Victoria office posted a helpful article that shows how to evaluate debt consultants. You read that article which includes reviews for 4 Pillars here. If you live in Victoria, drop by Benjy’s office (pictured below). The address is 2311 Watkiss Way, #103, Victoria, BC, V9B 6J6.  (250) 882-5556 Here are the questions...Continue reading