Your 4 Pillars Consultant in Victoria Is There for You after Bankruptcy or Consumer Proposal

Each year, thousands of Canadians take out bankruptcy or a consumer proposal for debt relief, and this is not an easy time in life. You might think that there's little you can do but wait for many years for your credit rating to recover. The truth is, you can recover quicker than you may think. Your 4 Pillars consultant in Victoria walks you through the process of debt relief and is there for you afterward too. Here are some of the things we can help you with.

4 Pillars After Care Program is Second to None

Discover how 4 Pillars Consultants help you learn the skills of a quarterback to score that touchdown to remove the burden of debt from your life.

How 4 Pillars Debt Consultants on Vancouver Island are different 

Larry and Jerry are both coaches that represent different teams. Larry and his company is ministered consumer proposals in bankruptcies. It's important to note that Larry has fiduciary duty to the creditors

Jerry is a 4 Pillars Debt Consultant - a debt specialist who also helps his client eliminate debt for good.

Jerry solely represents the interests of the debtor. After debt is reduced Jerry continues his work helping you rebuild your life.

Once coach Larry gets the creditor what he wants from you he hits the road but coach Jerry, the 4 Pillars Debt Specialist, knows that eliminating your debt is just the beginning of your success story. As your financial coach Jerry doesn't just slap you on the back after the big game, he gets you back in the locker room reviewing play strategies and practices keep you strong and ready to win back your credit.


Over twenty percent of Canadians who file for bankruptcy or a consumer proposal will refile for a second time within ten years. It can take up to two years to rebuild your credit but only 30 days to destroy it. This is why 4 Pillars Consultants in Victoria offer the most comprehensive plan to deal with debt.
They understand your immediate financial challenges and genuinely want to help you achieve your future financial goals. They will focus on your debt exploring all available options to reduce and eliminate your debt but it doesn't end there. 

Unlike other debt companies 4 Pillars Consultants on Vancouver Island offer their clients an extensive aftercare program it's designed to rebuild your credit and keep you from the pitfalls that cause so many to fall back into debt. Not only do 4 Pillars Specialists conduct free credit rebuilding workshops, their aftercare program has been so successful that competing companies are recommending the 4 Pillars aftercare program. 

While you are paying off your debt your 4 Pillars Debt Specialist is putting together a plan to rebuild your credit. They'll analyze your equifax and transunion credit reports; help you fix incorrect information and educate you on how the credit system really works. Your 4 Pillars Consultant and Debt Specialist will also put together a detailed credit rebuilding program, while monitoring your progress and helping you get credit products that will best help your situation. 

With your 4 Pillars financial coach writing the playbook you'll be on the winning team for years to come. By rebuilding your credit you'll be able to get a mortgage; travel; buy a new car you'll even have access to credit during emergencies. In fact 4 Pillars aftercare program will open your world up to endless possibilities. 

4 Pillars aftercare program is the best post debt program in Canada and it is offered at an affordable rate to make it possible for all Canadians to take part to learn more contact a Vancouver Island 4 Pillars Consultant and Debt specialist today!

4 Pillars Consulting Group Launches the New Canadian Home Program

 Victoria, British Columbia (August 25, 2017) – 4 Pillars Consulting Group has launched the Canadian Home Program, a home ownership program designed to aid aspiring homeowners. The program offers Canadians the opportunity to gain more knowledge about qualifying for a mortgage, effective money management and financial literacy. Completing the program allows families to become more stable financially.

The program consists of two sessions where participants can learn about important topics like budgeting, debt, the credit rating system, financial restructuring and credit rebuilding. The objective of Session 1 is to explain the crucial requirements to qualify for home ownership. Here, industry professionals will educate would-be homeowners on income qualification, deposit requirements, credit scoring, improving credit scores and debt restructuring. At the end of the session, additional assistance will be given in the form of a detailed plan for home ownership.

Ask 4 Pillars Debt Consultants What Assets You Can Keep in Bankruptcy

Filing for bankruptcy with a Licensed Insolvency Trustee gives you protection from your creditors and virtually all actions they can take against you to collect payment. However, it comes with a huge drawback: you will have to surrender some of your assets to a trustee. Your assets will then be liquidated to pay off your creditors and settle all your debts.

When bankruptcy is your only option, this is an unfortunate reality you have to live with. It is worth noting, though, that there are federal laws in place to prevent your creditors from taking advantage of your situation. Debt consultants from 4 Pillars in Victoria, Nanaimo, Port Alberni, and Courtenay can help you determine which of your assets may need to be given up to the trustee and also consult with you on other options to deal with your debt. 

4 Pillars Specialists Can Help If Your Consumer Proposal Was Denied

Filing for a consumer proposal is one of the most effective ways to pay off debt. Through this process, debtors can comfortably repay what they owe through a licensed insolvency trustee. Most creditors prefer this method as well because proposals often offer greater realizations than a bankruptcy.

Once you file for a consumer proposal with support and guidance from 4 Pillars in Victoria, Nanaimo, Port Alberni, or Courtenay, your creditors will have a 45-day voting period. During this time, they will determine whether to accept or reject your proposal. If the majority votes to accept your proposal, then the process will move forward. If the votes are split, you may be asked to attend a meeting with your creditors where both parties will try to reach an agreement.

4 Pillars Consultants Set Apart the Most Common Debt Relief Options

Recent statistics show that the amount of household debt in Canada has risen to over 160 percent of adjusted household disposable income. This means that a lot of Canadian families are owing more money than they actually earn. It’s only a matter of time before the financial sector feels the impact as the rate of nonpayment begins to shoot up. Fortunately, debtors are offered various solutions to their financial situations, which in turn help creditors recover their money. The most common of these debt relief options are debt consolidation, debt restructuring, and debt settlement. While they have many apparent similarities, they are actually different and should be treated as separate debt relief options. 4 Pillars Victoria and Vancouver Island consultants can help you understand these differences so that you can make the right choices when trying to manage your financial obligations.

Learn How Debt Restructuring from 4 Pillars in Victoria Can Help You

Having a debt that is almost impossible to pay is a stressful experience. Unfortunately, statistics show that the average Canadian owes up to $22,081 and growing. This means that almost everyone has some kind of financial obligation and is on the lookout for an escape route and a chance to start again. It would seem that the only way to free yourself from debt is to pay it plus the interest that it has incurred over time. There’s another method, though, which allows you to pay just a fraction of your debt and yet still be able to clear it out altogether—debt restructuring, a solution that 4 Pillars Victoria, Nanaimo, Port Alberni, and Courtney consultants will review with you.

4 Pillars Consultants Explain How Restructuring Affects Credit Scores

Victoria, British Columbia (July 14, 2017) – Debt consultants from the Vancouver Island regional base of 4 Pillars Consulting Group explain how debt restructuring affects credit scores. Canada provides its citizens with several options for settling debt they otherwise can’t pay back alone. Many, however, are reluctant to approach debt restructuring specialists for fear of how it would affect their credit scores. What consumers need to understand is that the mere act of consulting with an expert proves inconsequential to credit rating. If anything, it shows creditors that a debtor is serious about reducing debt.

What directly influences credit score is the debt management plan that will be used. Understandably, the credit score will dip because the client has taken drastic measures to settle debt. When one files for bankruptcy, he will receive an R9 rating. This is actually the lowest score a debtor can have, and it will remain on his record for at least seven years. Filing for a consumer proposal will lead to an R7 rating, which is higher than R9 but still considered very low. An R7 rating indicates that the debtor has been able to strike a deal with his creditors, making him eligible for opening up new credit lines in the future.

The credit report will show that the debtor is regularly making payments through an arrangement with a debt consultant. Normally, this will remain visible for up to two years even after paying off the debt. One need not worry, however, as this will not affect their ability to open bank accounts. From there, a 4 Pillars Victoria or Vancouver Island consultant can help them rebuild their credit.

A high credit rating doesn’t necessarily translate to credit worthiness, especially if debts are too high and the credit cards are maxed out. Pay off debt first, and then work on improving credit score.


About 4 Pillars Consulting Group - Vancouver Island

4 Pillars Consulting Group - Vancouver Island is a dynamic, independent group of consultants specializing in personal and corporate debt resolution through financial restructuring and extending assistance to people in financial crisis. Representing only debtors, the consultants aim to offer clients the best solutions to their debt challenges. More information can be found on the Facebook page.