The average debt for Canadians was $23,496 in the first quarter of 2019. This information, reported by Equifax, was a 3.2% increase over the previous year, with the highest average debt ($34,527) reported for those Canadians age 46-55. People in Victoria, as well as those across the country, do not plan to get into debt.…
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For many consumers in the Victoria area, the concept of good debt may seem impossible. However, debt consultants, as well as other financial professionals, do see debt as either a good type of debt or as a bad financial decision. Good Debt A simple and straightforward definition by debt consultants is that good debt adds…
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One of the first things that many people look at to solve debt problems is a debt consolidation loan. Our debt consultants at 4 Pillars may recommend this option to individuals and couples in the Victoria area. However, it is not always the right solution. In these cases, our 4 Pillars debt consultants may recommend…
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There is a very good reason why some people often describe debt as a mountain or an ocean, with those trying to manage it all feeling like they are facing a huge challenge or drowning in a vast sea of bills. At 4 Pillars, our professional, experienced debt consultants have the expertise and the knowledge…
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There are hundreds of thousands of blogs, articles, and websites that provide information on reducing your debt and paying off loans, credit cards, and lines of credit. Many of the people in Victoria seeking help from a 4 Pillars debt consultant have spent hours scouring the web for information, only to have problems in trying…
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There are some topics or areas of conversation that can potentially become problematic in any family. One of these topics in many Victoria families is debt and financial management. Unfortunately, many people who struggle with debt or effective financial strategies are very defensive about any mention of budgeting, debt repayment, or other similar issues. As…
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For individuals living in Victoria, sudden and often unexpected issues in life can have a significant and long-term impact on your financial plans. In these cases, even the best budgets and savings plans can become difficult or impossible to continue, resulting in an increased risk of issues with debt and repayment of loans. Working with…
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It is a very normal human reaction to avoid facing issues that are unpleasant or uncomfortable. Often these unpleasant situations have to do with finances. It is all easy to simply delete emails from creditors, to throw out letters, or to screen calls from credit card companies, banks, or other lenders. However, this does not…
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The vast majority of people in Victoria contacting 4 Pillars Debt Consultants have never worked with a debt consultant before. We understand this is often an extremely difficult time for people, and there may be some level of embarrassment or even guilt in having these conversations. It is critical for people to know that a…
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In Canada, there are different options for individuals to consider if they are facing mounting debt without an ability to pay back creditors and become current on the debt. One opportunity that a debt consultant from 4 Pillars in Victoria will review is the possibility of a Consumer Proposal. This is not the same as…
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