4 Pillars Creates a New Way to Deal With Debt Problems

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4 Pillars Consulting Group and The Phoenix Fund has created a strategic partnership and launched Canada’s most progressive debt restructuring and financing program to revolutionize how consumers deal with overwhelming debt and rebuild their credit ratings.

4 Pillars is an independent debt restructuring firm with the sole responsibility of representing debtors facing financial challenges and finding the best possible solution to resolve their current financial challenges whilst meeting their long term financial goals.

The Phoenix Fund is a specialized lending company who provides loans exclusively to 4 Pillars' clients going through debt restructuring either via an informal or consumer proposal plan. However, unlike typical banks and private lenders who lend only to borrowers with equity in their homes, The Phoenix Fund offers both secured and unsecured loans making our product available to borrowers without property.

The credit acceleration consolidation loan program allows our clients to settle all off all of their creditors right away so they can start rebuilding their credit immediately and the ongoing financial coaching from the 4 Pillars consultants ensure the transition to financial responsibility is maintained once a settlement is achieved. The effectiveness of the 4 Pillars credit rebuilding program combined with the credit consolidation loan has proven to assist our clients get back to credit strength within 24 months compared to 8 years thorough traditional avenues.

The power of our credit acceleration program is that it enables clients to negotiate a much lower debt settlement plans compared to what any competitors can achieve, creating benefits for all the parties involved including the trustees who administer the proposals. The results are lower risk to the creditors, less administration for the trustees, and one low, easy to manage, payment for clients.

Financial difficulties are most often the hardest to deal with, they embarrass, overwhelm and push people into corners quite unlike any other form of problem that we face.

The normal course of events sees people struggling to cope and, more often than not, failing quite miserably. It’s a problem that has existed equally as long as the world of Finance: wherever there is lending, there is difficulty in repaying and ultimately an amount of default. So what we are currently experiencing in Canada is nothing new, what is new is the widespread nature of the debt problems and the amount of Canadians facing financial challenges.

However, there are solutions. The problem is that not everyone understands the options they have to deal with overwhelming debt and rather more worryingly, some of the misinformation and the sensational way that the small amount of information is reported causes further distress, rather than reducing the enormous pressure that everyone is already under. Most individuals facing financial challenges have already been struggling with debt for at least 5 years and for them to now enter into a bankruptcy, formal restructuring or credit counseling program to resolve it they will usually see a further 7-8 year impact on the credit rating.

How are these people ever going to become financially stable? Very few consumers can be financially impacted for that long and have enough time to rebuild wealth, there must be a better way? This was the question 4 Pillars Consulting Group posed to its executive team at the beginning of 2011. The answer was simple, we need to help them rehabilitate faster and reduce the impact on their credit rating.

Partnering exclusively with the Phoenix fund allowed 4 Pillars to do this and allows consumers to reduce the impact on their credit rating by 5 years. The debt restructuring plan gives the debt reduction they desperately need to remove the stress and make the payments manageable and the loan from the Phoenix fund to pay it out gives a significant reduction in the impact on the credit rating. It's really the best of both worlds for anyone facing overwhelming debt.

Utilizing this approach and a comprehensive credit rebuilding program will allow a consumer to reach a 650 beacon score within 24 months, this is the magic number the traditional banking systems associates with a client that is rehabilitated and credit worthy.

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Dan M
since: 12/2013
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