There is no foolproof way to ensure that debt is never a factor in life. In fact, there is any number of situations that are out of your control with the potential to lead a person or a family into debt.
In many cases, people assume they have a way to pay for the items they are purchasing using high interest credit cards, or a job promotion just on the horizon to allow them to manage a much larger mortgage. However, the job promotion goes to someone else, the predicted income falls through, or an emergency situation occurs that leaves the bank account depleted.
As if this is not difficult enough, the interest and fees on unpaid or only partially paid accounts start to build. This snowball effect can be significant, often surpassing the original debt in a short period of time. Even with making minimum payments, the debt keeps growing and seems to take on a life of its own.
Reaching Out for Help
At 4 Pillars, the debt restructuring professionals can provide effective, simple options in getting debt under control. With a highly personalized and specific approach to paying off the debt that is carefully considered based on the individual or family’s financial situation, it is possible to pay one smaller monthly amount and still pay off credit cards, housing costs and other types of loans.
There are a few critical signs for reaching out for help from companies like 4 Pillars. The earlier the professionals are involved, the less the debt can snowball. Key signs to look for include the inability to pay minimum monthly amounts or only paying the minimum, or missed payments and partial payments on amounts due, and the juggling of which account to pay for a given month.
It is never too early or too late to contact the debt restructuring experts at 4 Pillars. A consultation provides a clear picture of options and considerations for any debt repayment program or plan.
At 4 Pillars Debt Consultants, we offer debt restructuring plans that are uniquely designed for each of our clients. To find out more, see us online at 4pillarsdebtconsultants. ca.
