Gary H.

Gary had to make some tough choices after going through a divorce. He decided he
wanted to keep his house, which meant he had to buy out his ex-wife’s half of the home.
This magnified the debt that he already had. Here is his story, in his own words…

Keeping the house…

After I bought out my wife’s share of the house, I was left with considerable debt.
I had a hard time living pay cheque to pay cheque, but did not want to lose my house.
I ended up maxing out all of my lines of credit and credit cards just to keep afloat.

Mounting pressure…

I was feeling quite depressed, desperate, stressed, and overwhelmed. I had no idea
what I was going to do. I took on second jobs. I finally came to the conclusion
that I had no choice but to consider selling my house and moving my kids and I to
a rental apartment or somewhere. Six years after my divorce, my new spouse and I
had unsecured debt in excess of $95,000. This was even taking
a toll on my new relationship.

Trying to make it work…

I tried a few times to consolidate my debts through the bank. This was done a couple
of times, however, I had to continue using lines of credit and credit cards and
I ended up maxing them out again, just to make ends meet.

Weighing the options…

I heard the Consolidated Credit ad on the radio several times. I always dismissed
it and I did not give Consolidated Credit any consideration when I first heard of
them. My spouse and I finally decided to sign up. I was still hesitant and skeptical,
but I really felt like I had to do something.

Put at ease…

The best part about Consolidated Credit was the ease. It was easy to sign up and
set up the payment structure. The flexibility of making this coincide with my paydays
was also a bonus. I chose to pay $1051.50 twice per month to help break that payment
down. Amazingly enough, Consolidated Credit lived up to everything they said they
would do. I did not receive any calls from creditors whatsoever. They really put
my mind at ease considering how skeptical I was of the program.

Developing good habits…

I have learned to budget my money. If I don’t have it, I don’t buy it. I have
a very small $1000 credit card limit that I require for work expenses… I use it
each month and pay it off each month. I pay $2,103 each month to my Consolidated
Credit account. I have managed to make those payments every month and still somehow
find money to live my day to day life. I account for each dime I put out. The best
part is I am in such a good place and good habit with my money that when this program
is complete, I will have $2,103/month more money available.

Planning for the future…

In ten months, I’ll be debt-free, the first thing I am going to do is have a great
weekend away with my new spouse to celebrate this achievement. Then, we are going
to put a plan in place to pay off our mortgage with this extra money each month.
We decided to put 50% towards extra mortgage payments, and 50% towards investments. The
excitement of knowing we have a solid plan is very addictive and to stray from that
with bad habits will be very difficult. We are committed to making this work for
a better future with more freedom to do what we want when we want to.