According to the Canadian Payroll Association, approximately 44% of working adults in the country indicated that a delay in their paycheque or the loss of income for one pay period would create a challenge in paying bills and staying current on all debt payments.

At the same time, more Canadians than ever are reporting they feel they are overwhelmed with their level of debt, and they do not see a way to decrease their debt load in the foreseeable future.

These two factors create a significant challenge for working Canadians. Those with no employment or reduced working hours have additional concerns and challenges in managing debt and avoiding bankruptcy, foreclosures, and repossessions.

Reasons to Call 4 Pillars

Signs of being overwhelmed by debt include:

  • Constant thoughts about financial issues
  • Being frozen or stuck and not knowing how to approach the debt problem
  • Avoidance and denial of the debt issue
  • Juggling payments month-to-month
  • Missing payments
  • Making partial payments
  • Only making minimum payments while interest continues to add to the balance owed

Working with 4 Pillars debtconsultants provides education, information, and options on how to approach current debt repayment as well as how to avoid future debt issues. Debt consultants also work with clients to rebuild their credit and develop healthy financial management habits for the future.

The Solution

Companies like 4 Pillars offer debt consultants to work with consumers to manage their debt load. With decreased debt, it becomes possible to begin to build savings, take advantage of investment opportunities, and avoid the paycheque to paycheque trap.