This is a great question. The simple answer to this for most people, would be that debt restructuring is a new arrangement or reorganization of your debt terms. Your debt terms are basically what you agreed to when you first took on the debt. Things like the amount borrowed, the amount of interest that you … Continue reading What is Debt Restructuring?
Why is there so much credit card debt We live in what is called a “Consumer Society” this means that products are bought on credit, so you have it now and pay for it later with interest this is called unsecured debt. It is easy to stay on top of your debt if you pay … Continue reading What is Debt Restructuring
When we think about filing bankruptcy, we often think that we will be in the hands of the court and protected from your creditors. In some ways this is true, but you will actually have to pay fees to the Bankruptcy Trustee and just because you are paying their fees, this does not mean they … Continue reading Is a Bankruptcy Trustee working for You?
At some point in your life you may find yourself in need of a financial home renovation. In some cases it may be a simple DIY fix with a fresh coat of ‘tighten the budget’ paint. However, for most of us, Debt Restructuring is a bigger project, one that should be left to the professionals. … Continue reading Debt Restructuring – a home renovation for your finances
The debt situation: A family contacted our 4 Pillars office in Barrie Ontario. They had $120,000K in unsecured debt. They were considering bankruptcy. Monthly payments: Their minimal debt payments had risen to a crippling $3,500 per month. Methods they had tried: The family accepted full responsibility for their debt. They had already looked at other debt solutions. … Continue reading Consumer proposal vs bankruptcy? This Ontario family went from $120,000 to $19,500 in debt
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