Tom R. – Youthful spending leads to mature lessons

Tom R. Client Profile Graphic

Not forever young…

Tom Ruddy

 

 

In my early twenties, I was foolish with money – I would buy things I didn’t need or spend money on food and drinks that I shouldn’t have.  I never gave my spending a seco

 

nd thought until I went back to school (on student loans no less).  That’s when the calls began as I wasn’t always able to make my minimum payments.

Inches away from homelessness…

Just as I finished school, I found myself separated and living alone.  A perfectly timed tax refund cheque saved me from living on the streets, because that was all I had to use as a deposit on my own place.  I had absolutely no money in savings, and with my credit cards and line of credit nearly maxed, it was only a matter of time before my life fell apart.

He worked hard to fix it but got nowhere…

At first, I tried to convince myself that I had it under control. I already had a full-time job so I took on a part-time job as well. It wasn’t long before that started to take its toll on my body and sanity as well.  Once I realized that wasn’t really helping me solve the problem, I became depressed, and frustrated.  I wanted more for myself, but I didn’t know how to make it happen.  One time I even managed to pay my debts down to a healthy level – but they piled right back up again.

Then he searched for a helping hand…

I found Consolidated Credit on the internet.  I was doing research as I had heard ads for many different companies, and wanted to learn more about the various companies.  When I joined the program, my debts reached a total of $40,000!  I had about $17,000 spread out over a line of credit, and two credit cards.  The remainder was student debt – which was entering repayment mode.

Consolidated Credit helped him control his credit use…

In the past, I made promises to myself that I wouldn’t use my credit cards, or line of credit – these were all too easy to break.  With Consolidated Credit for once I wasn’t able to access any form of credit, and I had to learn to live within my means.  It was a VERY eye-opening experience for me.  Not always fun, as I had to say “no” to nights out, or weekends away, but it was definitely worthwhile.  For me, the most effective part of the Debt Management Program (DMP) was the structure and discipline.

Valuable skills learned along the way…

 

Budgeting is key.  Knowing what is coming in, and what is going out always helps.  I’m proud to say that I have been able to establish a small savings fund for emergencies, which I never had before.  I’ve also learned how to live within my means.

Looking forward to a happy, debt-free future…

Before I joined Consolidated Credit, I was a miserable workaholic, barely managing.  I never felt like I could take the time to slow down long enough to enjoy my life.

Five years ago, I never would have thought I could ever rid myself of all credit card and line of credit debt.  It feels absolutely AMAZING to be able to say that I AM CONSUMER

 

DEBT FREE!  I’ve managed to work away at my student loans as well, and I’m ready to move forward, responsibly in all my financial affairs.

 

Are you having difficulty breaking the debt cycle?  Have you climbed out of debt only to fall back again?  Our trained credit counsellors can help you get out of debt and stay out of debt, for good.  Give us a call at 1-800-656-7731 or try our free debt analysis online and take one step closer to becoming debt free.