Fighting Canadian Debt

With Canadian debt levels reaching record highs, we have joined forces with 4 Pillars Consulting Group to help homeowners deal with debt.

CENTUM and 4 Pillars Consulting Group, a leading provider of debtor assistance services, are going to change how the mortgage industry deals with consumer debt by using home equity as part of a long term debt restructuring plan.

Quite often, people who are experiencing financial challenges need more than just a quick fix solution that could leave them vulnerable to huge fees and high interest rates. A recent report conducted by the Certified General Accountants of Canada, stated that “While the pace of debt expansion declined in 2010 and the first quarter of 2011, household debt levels still reached a record high of $1.5 trillion in the first quarter of 2011. If household debt was spread evenly across all Canadians, a family with two children would owe an estimated $176,461”.

For most part, Canadian’s feel that their debt levels will remain manageable, but there are hints that for some, household finances are becoming less favourable. One option that is commonly used to remedy household debit is debt consolidation. This however doesn’t teach you responsible financial habits.

4 Pillars Consulting Group has 12 years of creating financial restructuring plans for Canadians dealing with unexpected debt levels and financial challenges. A detailed financial restructuring plan creates an essential framework to guide decision making during what can be a very challenging time.

This partnership will help more Canadians learn how to effectively manage their debt and meet long term financial goals which would ultimately create financial stability for families.

To find out more about the program, contact your local CENTUM mortgage broker.

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