It can seem overwhelming when debt is a factor in your financial life. It is not uncommon for people to assume that debt occurs due to some type of poor judgment or lack of self-control, which can create a stigma around financial issues.
In reality, debt is often an issue that occurs due to a number of factors. Loss of employment, illness, divorce, or a tragedy in a family can all result in financial issues that quickly spiral out of control.
When these types of issues occur, or when debt is becoming a problem, couples and individuals in Victoria can turn to the services of the debt consultants at 4 Pillars.
It can be difficult to admit that debt is an issue, particularly for people who have managed their finances effectively in the past. While it may be the first impulse to wait and see if it is possible to catch up on missed payments, the longer you wait, the greater the risk of foreclosure, creditor calls, or even issues with creditors repossessing assets.
Calling a 4 Pillars debt consultant in Victoria when issues first start to develop provides the greatest number of options for resolving the debt. In Canada, consumers have several possible ways of resolving debt, including working directly with their creditors, completing a Consumer Proposal, or filing for bankruptcy.
The debt consultants at 4 Pillars can evaluate your financial situation and provide options based on your unique situation. They are not Licensed Insolvency Trustees (LITs), lawyers, or debt counselors, but they do provide a clear picture of the possible paths to get out of debt.