If you’re currently considering filing for bankruptcy or a consumer proposal, that means you’re struggling with high debts that you can no longer repay. These two debt relief options are essential for ensuring your life isn’t ruined by going into debt. However, there’s one important consideration many clients have before officially filing for a bankruptcy...Continue reading

Studying in Canada is a dream for many international students. However, along with the excitement comes the challenge of managing finances in a new country. Some students find themselves in debt that feels unmanageable, especially since they don’t qualify for traditional post-secondary funding options.  Bankruptcy is probably the most well-known form of debt relief in...Continue reading

Congratulations on graduating, it’s a major achievement! But the last thing you should have to worry about post-graduation is debt.  However, you may be rightfully concerned about your debt while applying to get a post-graduate work permit (PGWP). It is something you must apply to very shortly after completing your studies to stay in Canada....Continue reading

As debt relief specialists, there are many times where we’ve spoken to people who co-signed for their friend’s loan. Whether it’s a loved one, friend, or associate, people often co-sign as a generous and friendly gesture. But now, they’re not paying. And you’re the one dealing with the consequences. There are consequences to co-signing a...Continue reading

Not making payments toward your debts can lead to serious consequences. The longer a debt goes unpaid, the more it grows as interest and late fees accumulate. You’ll also notice a gradual drop in your credit score as well. However, being unemployed can make managing these debts go from difficult to impossible. That’s why we’ve...Continue reading

International students have special considerations to keep in mind when holding debt within Canada. This article will answer all of the common questions asked to us by international students, and how to best recover from high debts before returning to your home country and/or beginning work.  How International Students Get in Debt  International students pay...Continue reading

What is a Personally Guaranteed Loan? A personally guaranteed loan is a type of loan where an individual guarantees repayment, typically with their personal assets, even if the loan is taken out for a business.  This means that if the business defaults, the lender can go after the guarantor’s personal assets, like their home or...Continue reading

Student loans are a serious undertaking, especially for those fresh out of college. Student loans like OSAP typically total to over $20,000 per student, making repayment long and difficult. With this, it’s no surprise that over 77% of Canadian graduates over 40 say they regret taking out their student loans.  When someone finds themselves unable...Continue reading

With overly complex language and a lack of early education, it’s no surprise that so many Canadians are financially illiterate and struggling with debt. Navigating Canada’s debt industry is already difficult for Canadian-born debtors, let alone immigrants living in Canada for the first time. That’s why we’ve created this article specifically for Canadian immigrants who...Continue reading

All information provided in this article is sourced from publicly available materials and is intended for general educational purposes only. It does not constitute legal advice. 4 Pillars is a debt advocacy firm and is not a law firm. For legal advice specific to your situation, please consult a qualified lawyer in your jurisdiction. A...Continue reading