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Should I use a consumer proposal or preserve my credit rating?

By Paul Murphy

20-year financial veteran Paul Murphy breaks down a common question from our clients: should you use things like consumer proposals bankruptcy or debt consolidation or preserve your credit score? I recently sat down with David Moffatt from 4 Pillars’ Halifax office and Ryan Brown from 4 Pillars’ Muskoka & Parry Sound offices on our 4 Pillars’ podcast Beating the Debt Game. … Continue reading Should I use a consumer proposal or preserve my credit rating? →

🇨🇦 How is your credit score calculated in Canada?

By Paul Murphy

Credit Rebuilding

20-year financial veteran Paul Murphy breaks down how the major credit bureaus work, showing how your credit score is calculated in Canada. Five major factors go into how your credit score is calculated in Canada. 1. Your payment history 2 . Amount of utilization 3. Length of time of credit history 4. New credit 5. Maturity … Continue reading 🇨🇦 How is your credit score calculated in Canada? →

Alternatives to bankruptcy: a guide to help Canadians overwhelmed by debt

By Paul Murphy

Alternatives to Bankruptcy, Avoid Bankruptcy, Bankruptcy

“Well, I got a job and tried to put my money away. But I got debts that no honest man can pay.” — Bruce Springsteen It was June. I was attending a wedding of a friend and I met a man in his late 20’s, who had recently fallen into debt. It began with a … Continue reading Alternatives to bankruptcy: a guide to help Canadians overwhelmed by debt →

4 Pillars urges House of Commons Finance Committee

By Reg Rocha

4 Pillars News

4 Pillars urges House of Commons Finance Committee to review Canada’s insolvency legislation: Be more debtor-centered. Reg Rocha December 4, 2020 I have written on many occasions about the rising levels of household debt in Canada. As a nation, we hold one of the highest consumer debt levels in the G20. Just prior to the … Continue reading 4 Pillars urges House of Commons Finance Committee →

4 Pillars’ Letter to Hon. Wayne Easter FINA Committee

By Reg Rocha

COVID-19

On July 7, the House of Commons FINA Committee called the Superintendent of Bankruptcy and Commissioner of the Financial Consumer Agency of Canada as witnesses to discuss their responses to the COVID-19 pandemic. Their testimonies revealed the extent to which key Federal regulators know (and don’t know) about what’s to come for Canadians during … Continue reading 4 Pillars’ Letter to Hon. Wayne Easter FINA Committee →

Articles - Page 5

Should I use a consumer proposal or preserve my credit rating?

🇨🇦 How is your credit score calculated in Canada?

Alternatives to bankruptcy: a guide to help Canadians overwhelmed by debt

4 Pillars urges House of Commons Finance Committee

4 Pillars’ Letter to Hon. Wayne Easter FINA Committee

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