Home / Debt Consolidation

Debt Consolidation

Debt is the single biggest threat to Canadians financial future and meeting long term financial goals, yet it is the most overlooked piece of every financial plan. 4 Pillars is proud to partner with New World Agency in recognizing the financial challenges Canadians face and in helping individuals deal with debt as part of their long term financial strategy.

A financial restructuring plan creates an essential framework to guide decision making during what can be a very challenging time. It becomes a road map for achieving financial stability. 4 Pillars works to create a detailed plan to rectify immediate financial challenges and re-establish credit ratings.

Here’s how it all works.

1. We outline a plan

The goal is to get you out of debt as soon as possible, get you into a payment plan you can easily afford to remove the stress, and protect your assets. After reviewing your current financial situation, we outline a personalized plan to meet the immediate short-term needs of dealing with your debt that fits your long-term financial goals. Our fees cover you right through the program, from solving your current financial challenges to successfully rebuilding your credit and everything in between.

2. We consolidate your debt

Our role is to represent you, the debtor, and structure a new affordable payment plan to deal with your debt, either through a comprehensive budgeting program or if required through a bankruptcy trustee. The trustee is an officer of the court who acts on behalf of the creditors in a fiduciary capacity. So it’s imperative that you obtain your own representation in any major decision. If structured correctly, the proposal will usually repay a portion of what you owe, and its common for our clients to eliminate 80 per cent of their debt. Creditors generally prefer this to you going bankrupt, which usually sees them get nothing.

3. We help reestablish your credit rating

Budgeting and credit rebuilding are the cornerstones of any successful plan to deal with debt and once you have the new proposal in place, those will be the next things we tackle with you. We have some of the BEST consultants in the industry to help you understand your credit report and the importance of maintaining a strong credit profile, understand how to effectively manage credit and keep you out of debt for good.

4. Here is how it all fits together