Phong J: life after debt

Phong was content with her life until things went terribly wrong. Her husband was unable to work full time because his health took an unexpected turn for the worse. Their family income was immediately slashed and then Phong became the sole provider.

“My husband’s health conditions left him unable to work; this meant that I alone was the sole income provider. And my income was very small in comparison to my husband’s to say the least.”

As the months went by and her husband was still unable to work, Phong was able to manage her monthly credit card bills to a point however as the years went by, her credit card debt kept growing and growing and it was getting to be too much.

“At first, I was able to pay more than the monthly required minimal payments on my credit cards. However, as the years went by, the debt became too large to pay above the minimal payment each month.  I tried to cope with my debt by transferring my balances to cards with lower interest rates, but this too can only work for so long.

Phong was running out of options to manage her debt. Her husband was unable to work and the stress of being the sole income provider was weighing down on her.

“I tried other ways to manage my debt however I was not eligible for bank loans because of my low income and the large credit card debt I was carrying…so it was just a matter of time before the debt became too much to handle.”

And that it did. Phong was tired of the cycle of debt her family was thrown into. She wanted a better way out and sought the services of Consolidated Credit Counseling Services of Canada.

“I called Consolidated Credit because I felt it was time to seek some help as I was barely able to meet my monthly minimal credit card payments and living expenses.”

Phong now has a better life and her debt is the least of her concerns.

“Consolidated Credit has helped me to eliminate a large chunk of my debt and reduced the remaining amount owing to very reasonable monthly payments. I manage my debt now by paying for everything in cash or debit card based on the monthly budget that I’ve established for my family.”