If you’re currently considering filing for bankruptcy or a consumer proposal, that means you’re struggling with high debts that you can no longer repay. These two debt relief options are essential for ensuring your life isn’t ruined by going into debt. However, there’s one important consideration many clients have before officially filing for a bankruptcy...Continue reading

Studying in Canada is a dream for many international students. However, along with the excitement comes the challenge of managing finances in a new country. Some students find themselves in debt that feels unmanageable, especially since they don’t qualify for traditional post-secondary funding options.  Bankruptcy is probably the most well-known form of debt relief in...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

Taxes and debt relief are two of the most complex aspects of Canada’s financial system. Going through a debt management process like a consumer proposal or bankruptcy is tricky as is, but it’s made even more difficult when considering how they change your tax filings and refunds. This blog will demystify the connection between 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

This report was written by Paul Murphy, a 20-year financial veteran and managing partner at 4 Pillars.  In this report, you’ll find a data-backed picture of household debt and bankruptcy in Canada. Key questions answered in this report: What is the average household debt in Canada? What are the signs of a typical Canadian family facing...Continue reading

When a small business begins to fail, bankruptcy is often seen as the final option. But is bankruptcy the best option for your small business in Canada? Essential information about small business bankruptcy in Canada When a small business becomes buried in debt, bankruptcy is the most commonly known solution. But when it comes to...Continue reading