3 Key Life Changes That Can Trigger Debt Concerns

by | Oct 26, 2021 | Financial Service

It is not uncommon for life changes or life events to have an impact on the finances of an individual or couple living in or around Victoria. Some life events, such as a new job or a promotion, have a positive impact on the finances of the individual. Other events, even if they are positive, can sometimes create a negative impact on finances.

When these types of life events happen and people in Victoria are no longer able to stay current with loans, mortgages, and payments, the team at 4 Pillars is here to help. A 4 Pillars debt consultant can review your financial situation, evaluate your debt, and provide options for you to consider.

Marriage or Divorce

Marriage or divorce can create challenges in managing any type of debt. There is also costs involved in both processes, which can add to the financial burden for the couple.

Working with a 4 Pillars debt consultant for these relationship life events that negatively impact your finances is an effective way to understand your options moving forward.

Health and Medical Issues

Unfortunately, health or medical issues can occur to anyone at any time in life. Short or long-term disability or inability to work can have a negative impact on your ability to stay current on payments.

Birth of Children

The birth of a child is an amazing experience. However, the loss of income and the potential long-term choice of one parent to stay home can make it difficult to make ends meet if there are significant debt issues with the family.

Talking to a 4 Pillars if these life events are a factor in your life can help address debt before it becomes problematic.

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