The Filipino community faces a particularly tough challenge, as hard working Filipinos are often obliged to send money back to the Philippines to help family members. For Filipinos in Canada, such obligations reduce the amount of money available. Therefore, credit must be used in order to make up for the shortfall in available cash. The result is a monthly accumulation of debt.
Today, more than ever before, Canadians are dealing with personal debts that are unmanageable. Credit cards, personal loans, lines of credit, car loans, unpaid bills, and other financial obligations have all combined to create a giant financial hole in most households. Add on the high interest rates and most people are stuck carrying the debt like a bulky knap sack that seems to get heavier with each passing year. It’s enough to make someone want to give up, and declare bankruptcy. That’s where 4 Pillars comes in. 4 Pillars is a National company that has spent the last 12 years helping indebted individuals break free of their crushing debt and rebuild their lives.
4 Pillars
What makes 4 Pillars unique is the company specializes in what is known as “Restructuring” instead of relying on the more common option of Debt Consolidation. While consolidation often offers a lower interest rate, the indebted individual is still required to pay off 100% of the amount he/she owes in a fairly short period (3 to 5 years), and the interest rate, while better, is still relatively high. In other words, debt consolidation is yet another loan the individual must pay down. Many people find themselves unable to pay off these loans and end up right back where they started.
How Debt Restructuring Works
With Debt Restructuring, 4 Pillars works with their clients to actually reduce the total amount a person owes, often by as much as 70%! The reduction is the result of working with a person’s creditors directly, either through an informal process (straight ahead negotiation) or consulting on a formal process, often referred to as a Consumer Proposal. Either way, the goal is to help an individual avoid Bankruptcy by restructuring the debts to a manageable level where the client actually is able to pay what is owed.
Best of all, 4 Pillars does not abandon their clients at the conclusion of the debt restructuring process. Follow up Budgeting and Credit Rebuilding services are included in order to help ensure a restructured client is able to obtain credit and use it responsibly in the future.
Free Consultations
If you or someone you know is struggling with debts, 4 Pillars may be the solution. The initial consultation is free of charge, and the 4 Pillars office will take the time to explain all options and make sure the person being dealt with is comfortable with the process moving forward.
Contact Zach Brull at 4 Pillars for more information 289.466.1029
Visit 4 Pillars and learn how he can help with a financial restructuring plan.
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