This article is for general informational purposes only and does not constitute legal, tax, or financial advice. Laws and figures referenced above — including limitation periods, CRA collection rules, and program thresholds — are current as of the publication date and may change. Please consult a licensed insolvency trustee, accountant, or legal professional for advice...Continue reading
This article is for general informational purposes only and does not constitute legal, tax, or financial advice. Laws and figures referenced above — including limitation periods, CRA collection rules, and program thresholds — are current as of the publication date and may change. Please consult a licensed insolvency trustee, accountant, or legal professional for advice...Continue reading
Last updated: October 2026 All information provided in this article is sourced from publicly available materials and is intended for general educational purposes only. It does not constitute legal advice. 4 Pillars is a debt advocacy firm and is not a law firm. For legal advice specific to your situation, please consult a qualified lawyer...Continue reading
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
In This Article Recent Changes & Updates The 7-Year Rule for Student Loans Government vs. Private Student Loans What If I Left School Less Than 7 Years Ago? What Happens If You Include Student Loans in a Consumer Proposal Can You Get OSAP and/or Student Loans If You Have a Consumer Proposal? When to Include...Continue reading
Last updated: October 2026 In 2026 alone, over 70,000 consumer proposals were filed across Canada — a record high — reflecting how many households are turning to government-approved solutions to resolve their debt. If you’re struggling with unmanageable debt, you may have heard that there are government-approved debt relief options in Ontario — and there...Continue reading
Victoria has one of the highest credit card debts per capita in Canada, at an average balance of $12,874, but can this debt be forgiven? Debt forgiveness is a best case scenario for most Canadians in debt, but it’s not easy to find. This article will cover what debt forgiveness really is and whether your...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
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
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
