Harold G. slays his debt mountain

Life was good for Harold G. until a series of unforeseen events pushed him into a deep pool of debt without a life jacket. He was paralyzed by debt when his small business was hit hard during the economic down turn in 2008. Harold was trying hard to stay afloat, but then the bottom of his ship gave out when his marriage ended and he was dealing with a heartbreaking divorce.

“Before I knew it I was about $140,000 in bad high interest credit card debt. I attempted to pay this down but unfortunately due to an average 22 per cent interest rate my monthly payments of thousands of dollars barely made a scratch on the principle.”

The more payments Harold made, the more frustrated he became. He was making huge payments in an effort to get rid of his $140,000 debt however he couldn’t keep up anymore. And when he could no longer manage, that’s when he was harassed by bill collectors demanding their money. He felt as if none of his creditors cared he was having a hard time to come to terms with a sudden divorce and a struggling business.

“Personal bankruptcy was something I don’t morally believe in and I didn’t want the bad credit record that goes along with that. I’ve always proudly paid my bills as best I can.”

Harold was at the verge of giving up until one day, he found out about Consolidated Credit Counseling Services of Canada through one of the customer service representatives at his credit card company. After the call, Harold contacted Consolidated Credit and spoke to a trained credit counsellor to review his financial situation and during this call he found out he could benefit from Consolidated Credit’s debt management program.

“I found myself shaking my head in disbelief at how wonderful it felt to finally have the thousands of dollars I was paying only in interest to suddenly be making payments chopping rapidly away at the principle! Not to mention no more harassing phone calls!”

Harold was so grateful to get his life back on track after suffering years of trying to stay afloat financially. He now has a greater discipline with managing his finances through his credit counselling sessions. Harold’s new found freedom allows him to focus on his life again.

“I stuck to the program and now only a few years later I am elated to report that I am debt free thanks to Consolidated’s wonderful program and the people who work there. They are, indeed, a God send and my life has been permanently turned around. I will never again allow myself to build up credit card debt. I will be Master of my own destiny!”