Blair Greenwood your 4Pillars Debt Consultant in Victoria is the First One to Talk to about Your Debt Problems
Most people in debt often think they should first approach a Trustee in Bankruptcy or a Credit Counsellor for help. Unfortunately, these professionals often work for or represent creditors, and for this reason, it is only prudent not to leave your debt solutions solely in their hands. If you find yourself considering bankruptcy, are mulling a consumer proposal, or face the prospect of being unable to pay your bills, then you need independent advice. As your 4 Pillars Debt Relief Consultant in Victoria, I take the view that in the debt advisory business, you either act for the creditor, or act for the debtor. It’s impossible to give good, sound advice to both—you simply cannot do it. Here are some facts about the debt industry you need to know:
- Around 35% of all Consumer Proposals in Canada fail.
- The trustee is an officer of the court who acts on behalf of the creditors in a fiduciary capacity.
This fiduciary responsibility is very powerful. A fiduciary entails a legal or ethical relationship founded on trust between two or more parties. In other words, the Bankruptcy Trustee works for your creditors, not for you. - The trustee holds the duty of care for the creditors. As such, if you happen to approach the trustee directly to file a consumer proposal, they will undertake to determine the terms to which the proposal will be filed.
- Non-Profit Credit Counsellors are usually financed by creditors. The debtor pays the credit counselling society, which in turn pays the creditors. The fees paid by the debtor are usually minimal, but Credit Counsellors rarely offer less than 100% of the debt owed. They may, however, reduce or eliminate the interest rates on future payments.
As a 4 Pillars Debt Relief Consultant I represent YOUR best interests; not your creditors’. That has been our main focus even when we first started out in 2002. In short, everything we do for you is governed by this mandate. We will educate you about all the options at your disposal so you can make the best decisions on how to deal with your debt. When structuring a debt repayment plan, we ensure the terms agreed upon are based on the long term financial goals of you, our client.
It really is time for you to take back control of the outcome of any financial restructuring program that you enter. You need to ensure that the terms you’re agreeing to are on YOUR terms and not your creditors’. It is well within your rights to ask questions and challenge what you are being told. Get in touch with me today 250-590-7890 or email blairg@4pillars.ca. Let me show you how to get your financial life back in order.