Al R.

When Al had to sell his guitars to save money, he realized he was falling into debt. See how Consolidated Credit helped him face the music and reach financial success.

Al fell into some heavy credit card debt when his wife went back to school. Education is a sound investment, but the reduction in income put a lot of pressure on their finances and he needed to find a way out. Here is his story, in his own words…

The cost of living was supported by credit cards…

I’d racked up thousands of dollars in credit card debt during the years when my wife went to college for three years. She tried to do part-time work and keep up her studies at the same time, but we found that her marks suffered because of the late hours sometimes. So, I suggested we try to go through it, with just my income and our credit cards.

The snowballing effect of credit cards…

I used credit cards a lot to keep us afloat, in the hopes that, once she worked again, we’d pay them all off…. well, that never happened – and the debt become crushing for us, with collectors wanting minimum payment amounting to more than I made in a month.

Sacrifices had to be made…

I’m a musician. A musician loves his instruments – we name our guitars! When I had to sell two of my guitars, a guitar amp, my mixer board and all my speakers just so my kid could play hockey that year… the sinking feeling that brings one is CRUSHING!

The pressure mounted…

We lived with this debt for almost five years. I felt depressed, lost, and afraid. I was afraid of losing my house and our lifestyle. When my debt reached $20,500, I knew I had to act.

Turned away from banks…

I tried to get a line of credit through my bank – to consolidate it that way at a lower interest rate. But, the banks wanted nothing to do with me by that point. But I felt that consolidating my credit card debt was the only way to stay afloat… and a loan wasn’t the answer.

He did some research…

I did a Google search, and found Consolidated Credit. I called to find out what my options were. Once I was enrolled, I stuck to the program.

Consolidated Credit changed everything…

Things got much better. To me, my favourite part of the service was the one payment per month – and no more phone calls every single day. We learned to not depend on credit at all. We learned to buy only what we can afford. We got a pay-as-you-go credit card for online purchases, but if it’s not in our account or budgeted for .. we don’t buy it.

A grateful man…

My life is a lot more stress free, and I got to keep my house! Thanks to Consolidated Credit, we were able to live a normal life again.