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Is Filing a Consumer Proposal the Same as Bankruptcy?

Many people think that I consumer proposal is just the same as bankruptcy. Is this really the case? Absolutely not! First we need to understand what actually happens when a debtor (a person in debt) files for bankruptcy. When al bankruptcy is filed the debtor`s assets are assigned to a Licensed Insolvency Trustee (LIT) whose...
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Saving for a Rainy Day when Debt is your Umbrella.

From a very young age we’re told the importance of saving for a rainy day.  And when you live on the lower mainland that is a lot of rainy days.  Unfortunately many Canadians are not prepared for a rainy day; living paycheque to paycheque has become an unsettling norm.  But what happens when that rainy...
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Rags to Riches: Burnaby Man’s Debt Help Success Story

I’m Peter Temple, your 4 Pillars Debt Specialist serving clients in Burnaby.  Over the years I’ve had a lot of good people come through my door; each with their own unique story.  But the majority of them had one thing in common, they had me fighting on their behalf to help get their debt reduced and paid off as...
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Credit Debt In Canada

Remember the surge of excitement that came with getting your first credit card?  It felt like a rite of passage; that somehow you were finally an adult.  Over the years the thrill of getting your credit card statement has decreased. In fact, for a great many Canadians, just the thought of their credit card bill...
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