4 Pillars Helps You Avoid 3 Nasty Pitfalls to Rebuild Your Financial Life
Canadians are struggling more and more with debt. Today, we collectively owe almost $2 trillion in consumer debt alone – that does not include national debt. That’s a massive burden to bear, but you don’t have to go it alone. 4 Pillars is here to help, and we can help you avoid some nasty pitfalls and rude surprises along the way.
Trustees Don’t and Can’t Work for You
Let’s assume that you’re facing a worst-case scenario. You see no way out and decide that bankruptcy is the best path forward. You want to hit the reset button and wipe the slate clean. Sadly, it does not always work that way. In fact, filing for bankruptcy, in the traditional manner, could lead to assets being liquidated and part of your income going to your creditors.
You see the trustee doesn’t work on your behalf, they do protect the rights of the debtors during insolvency and at the same time have duties and responsibilities to your creditors.
At 4 Pillars, we work for you, not your creditors. We ensure that you stand the best chance of enjoying that fresh start you deserve. We can review all the options including those outside of a formal insolvency.
Credit Counselling Companies
Credit counseling is often touted as a viable solution to help Canadian consumers reduce spending and control their debt. There’s some wisdom in this. However, there’s also a misunderstanding that because credit-counseling companies are non-profit, they work on your behalf but actually their funding comes from the creditors.
Have you ever wondered how they could afford those multi-million-dollar ads? It’s because they’re tied to credit card companies and other lenders. 4 Pillars is not connected to any of your creditors, ensuring that we work with your best interests in mind.
Paying on Time Leads to a Lifetime of Crushing Debt
Think that you’ll eventually make your way out from under that crushing debt load by just paying your bills on time, every time? It might be possible if you owe a very small amount, but the sad truth is that most Canadians will never pay off their debts this way. You’ll continue to pay, month after month, for the rest of your life. 4 Pillars can help you reduce your burden and get out from under debt almost immediately.
Ready to make a change? Get in touch with one of our 4 Pillars representatives!