What Options Do Debt Consultants in Victoria Recommend

What Options Do Debt Consultants in Victoria Recommend

Each financial situation is unique and can be solved through various strategies that help individuals reach a solid financial footing. While there are no one-size-fits-all solutions to overcoming debt, individuals need to work with a 4 Pillars debt consultant in Victoria to learn about their options and make the right decision based on their unique situation.

Debt Management Plan

Individuals who have the self-discipline to improve their finances can often benefit from a debt management plan. These plans have a minimal effect on an individual’s credit score and allow them to pay off their debt with reasonable payments. If an individual chooses a debt management plan, their debt consultants in Victoria will help you create an affordable repayment plan that allows you to reduce your debt over time.

Consumer Proposals

Canada has created a consumer proposals program that allows individuals to avoid bankruptcy, while still working toward paying off their debt. These proposals require working with an LIT who will complete the legal process and help you eliminate debt like credit cards, tax debt, and more. However, there are types of debt you can’t include in these proposals, including support payments, student loans, and others. Your LIT will let you know what you can include.


While it’s best to avoid bankruptcy if possible, some financial situations require this solution. When you work with 4 Pillars, they will discuss the pros and cons of bankruptcy and whether it’s the best solution for your unique situation. Their team will also present alternative solutions to help you make the most informed decision before you proceed.

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