About lender
4 Pillars is a financial Canadian-owned company. 4 Pillars was established in 2002 by 4 Pillars Consulting Group Inc. It provides consultation and assistance on financial issues in Canada. Since 2002, 4 Pillars has been advocating for those experiencing financial problems and debts to help them resolve financial crises and change their financial situation.
4 Pillars offers a wide range of services depending on the complexity of the financial situation of the debtor and his goals.
Debt restructuring
4 Pillars Consulting Group offers clients a wide range of financial advice depending on the current client's financial situation. The counselors will not only find a trustee but also help manage the whole process that comes after. 4 Pillars can help the client to relieve from almost any kind of debt: high-interest loans like payday loans, mortgage payments or credit card bills, and other credit products.
Corporate debt restructuring
Consulting Group offers debt restructuring for businesses struggling with debt and crisis financial situations. The Corporate Transition Group consultant brings advice and reconstruction of the corporate debt.
After Care-Credit Rebuilding Program
This consulting program aims to build the client’s credit score to at least 650 within 2 years. This program includes a debt restructuring program and costs $1,200 a year.
Consumer Proposals
This procedure allows a debtor to settle with creditors and create a new schedule of repaying. So, the client, due to this accommodation, will gradually repay the whole debt through a series of monthly payments with a maximum period in 5 years.
Bankruptcy
Declaration of bankruptcy - extreme case of insolvency. Like a consumer proposal, this decision will end any collection creditor’s penalties and eliminate unsecured debts.
Features
The name of the company - 4 Pillars - stands for financial awareness, financial literacy, financial behavior, and financial satisfaction.
On average, 4 Pillars has helped consumers to find an opportunity to eliminate 80 percent of their debt. More than 50,000 families across Canada successfully resolve unmanageable debts of over $300 million annually through 4 Pillars’ help. The company is serving customers in 51 offices across Canada.
Pros and cons
Before applying for the help of 4 Pillars, it’s worth considering the main advantages and disadvantages of the consulting process.
Pros
No upfront fees
4 Pillars offers many different debt management options
The company provides an information session
4 Pillars advocates for the debtor and not for the creditor
Client’s consultation from highly trained Financial Wellness and Literacy experts
Cons
Fees are dependent on the degree and amount of assistance provided
4 Pillars does not operate in every territory or province
Loan Funding
The company specializes in providing consulting services but not loans. The counselors study each client's request and offer a unique solution, analyze and solve financial client’s problems, helping reorganize the entire business structure.
