How does restructuring debt help residents of Pickering/ Ajax and Uxbridge?
Let’s start with what debt restructuring is not. Debt restructuring is not simply debt consolidation. Debt consolidation requires you to pull all of your debts together and pay back the original amount. (You start with $50,000 in debt and you payback $50,000.)
In a Debt Restructuring Plan one of our highly trained Debt Relief Specialists will work with you to help eliminate up to 80% of your debt and pay it back on a monthly plan that suits you and your family. (for example – You start with $50,000 and agree to only pay back $10,000)
What makes it work so well for us Durham Residents?
As you are aware real estate growth has been at record pace for the last 6+ years. As such many residents in Ajax/Pickering and Uxbridge have been refinancing their homes to pay off debts. As our market now slows this no longer becomes an option for a lot of us. With limited home equity now and continued spending countless Durham residents have found themselves in financial hardship. Restructuring the debt may be the best option available to them. It allows them to keep their family home, stop the interest, and start to repay back only a fraction of what they owe.,
Is that legal I always get asked…..Absolutely!
It’s actually a legal agreement between you and your creditors to pay back only a percentage of the debt over a fixed period at 0% interest.
Why haven’t you heard of this is the next question…..
My answer is always the same. Where do Canadians typically go to for financial direction??? The banks. Who do they typically owe money too? The banks. As such is it the financial institution’s responsibility to educate their own customers about how to minimize unsecured debt that they are owed? Absolutely not. The bank has a legal responsibility to its shareholders first and foremost and helping you only pay back a portion of what you owe is not good business. If you stop and think about it the proof is right in front of us all the time. There are 2.2 credit cards for every single Canadian adult! Credit is pushed on us everywhere.
How does restructuring help me today?
Affordability of the plan is the number one thing we push for. If you can’t afford to make the monthly payments on your plan with complete ease you most likely will not complete it. Let’s look at our example from before.
$50,000 of credit card debt would be approx $1500 per month in minimum payments which you could pay the rest of your natural life without extinguishing the debt. We can help you take that $50,000 down to approx..$10,000 and pay it back interest free over up to 5 years. What’s that equal??
$166 a month for 5 years and you are completely debt free.
Our goal is to completely change your life by turning around your debt situation and helping you move forward in a positive path financially.
We have recently expanded and opened an office in the Ajax Pickering and Uxbridge area to help people in the community reduce their debt load and enjoy life again. Our office is located at 1315 Pickering Parkway Suite 300 right beside the Pickering Town Centre.
Some people say that all you have to do is spend less than you make but it’s not that simple, If it was, no one would ever have problems and credit cards wouldn’t exist. Making minimum payments on your credit card every month is no way to live. Financial literacy is not taught in schools and as such most people simply need some help and support digging out of the hole and some education to get their life back on track.
Since 2002 4 Pillars Consulting Group has been helping Canadians Coast to Coast. With our new office located at 1315 Pickering Parkway we are now able to help those who before didn’t have someone looking out 100% for their interests as an option. We offer free debt analysis and we will review all the options available and help you implement the plan that is best for your unique situation.
The reality is most Canadians don’t know the options available to them in regards to restructuring their debt. Instead they fight tooth-and-nail because of their pride, trying to pay back the original amount borrowed plus interest and they can never get ahead. By reaching out to us and asking for help were able to assist them in getting their life back on track much sooner than they could ever have hoped. I have the most rewarding job in the world and want to help. Reach out to me today. 905-767-3328
www.facebook.com/4pillarsGTAEAST
