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Success Stories

Here's my testimonial:

Hi, my name is Stephan and If you’re reading this, then you might be where I was over a year ago; knee deep in debt and sinking your way to the bottom. My fears got the best of me and I thought I would never get rid of the debt. All of that changed the day I decided to call Consolidated Credit. With their help, I am now on my way to becoming debt-free and will never revert to my old ways. This is my story.

My first taste of credit came a few years ago with my first visa card and I loved it. I felt the freedom to buy what I wanted when I wanted and pay it when I felt like it. Well as the months passed, I spent more and my credit grew stronger. I kept getting credit card offers in the mail and I thought "why not get more credit cards, you might need a spare someday"

Before I knew it I had amassed 4 credit cards, a car loan and a furniture loan. I was doing fine for a while, paying my minimum payments and trying not to spend too much, but sometimes I just couldn’t resist the urge to spend.

Then one day, out of the blue, I was hit with bad news. My girlfriend at the time lost her job. I thought we would be fine, I had amassed 4 credit cards right? WRONG. Sadly, she could not keep a single job and I was forced to max out my credit cards, just to keep us going.

Eight months later I had maxed out all my credit cards, accumulated a hefty cell phone bill, and was behind on almost every rent payment, I was unable to make minimum payments on my credit cards, my cable and internet bills were months behind, and I was borrowing money from two cash stores every week. At times the second payday loan was to help pay off the previous weeks’ loans from the other payday loan centre I was stressed and felt as though I had just sunk to the bottom, We seldom went grocery shopping and didn't eat very much. Our social life had become non-existant. We were both devastated and exhausted. I had done what I had to do, and all that I could possibly do to help my family out, even if it meant sinking my own credit. But I had fallen too deep to get myself out.

I thought about declaring bankruptcy but after talking with a friend and exploring my options, I was referred to credit counselling and luckily Consolidated Credit Counselling Services of Canada Inc. was there to help dig me out of my hole.

My first call to Consolidated resulted in me having a better understanding of my own budget, credit and spending habits. I was able to discuss my problems with a caring credit counsellor, who was compassionate and comforting. After finding out that I was eligible for their program, I was enrolled and on my way to becoming debt-free. My life had finally taken a turn for the better.

Within a few weeks I was making one payment for ALL my bills. I didn't have to worry about minimum payments and due dates because Consolidated Credit took care of the payment schedules for me. They were even able to negotiate with my creditors to lower the interest rates on some credit cards and were able to eliminate interest rates on others.

It's been almost 2 years now, and about 70% of my debt has been repaid. My life is back on track and I'm now able to once again support my family, stress free. I've learned a valuable lesson about credit and I have Consolidated Credit and it’s amazing staff to thank for everything. I've accomplished so much and learned better ways to manage my personal finances, and how to save money rather then depend on credit cards.

Thanks for reading my story. I hope my story can help others solve their debt problems just like it did mine.For all those who can relate to my story, you should know that there is help out there- you are not alone.

Cheers, Stephen

If you would like to share your success story, please submit it to Jeffrey Schwartz at: jschwartz@consolidatedcredit.ca