At 4 Pillars Victoria I have helped hundreds of people become debt free. In my experience if you are living in overdraft it is one of the telltale warning signs that you may have a problem with the amount of debt you are carrying and that your debt load may be becoming unmanageable. Living in … Continue reading Are you tired of living in overdraft?
Recently, I was explaining to a friend what I do. I discussed different debt related situations, solutions, examples, etc. As I was talking my friend interrupted me and said the following… “Zach, just about everyone I know has some kind of debt. I can’t believe they all need debt help or consolidation services. Who actually … Continue reading When is it the Right Time for Debt Help?
There are reasons why RSP’s, insurance policies, equity in the home, among other items are exempt from being liquidated in the event of an insolvency. In an effort to keep this blog post at a reasonable length, I won’t go into detail about our highly leveraged financial system. In saying that, suffice it to say, … Continue reading Stop cashing out investments to solve debt!
Consider this, our standard file: $50,000 of credit card debt. If the person would like to pay the $50,000 off in 5 years, they would have to pay an estimated $1,541.67 per month for 60 months. Therefore, the total payback = $92,500 In order to pay back $92,500, one has to earn an estimated gross … Continue reading What is the true cost of servicing debt?
I recently heard one particular Bankruptcy Trustee, now known as Licensed Insolvency Trustee(LIT), advertise free financial advice. What does that mean? Does it mean a free one hour consultation? Or could it be they will file a consumer proposal or a bankruptcy for you and you don’t pay them any fees? Whatever it means, nothing … Continue reading There Is No “Free” Financial Advice
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