After years of paying $2,000 per month on his $115,000 of debt and never seeing the debt go down, our client approached us for a viable and effective solution. He had already paid more than $100,000 in interest alone but had hardly made a dent in his debt.
Solution
Our approach was to reduce this debt without further impacting his financial situation. We reduced his debt by over 55% to $51,000 with an interest rate of 0%. He now pays $850 per month, which is applied 100% to the principle. He accumulated no further interest on the debt and kept all his assets.
Case Study 2
Case Study 2
Scenario
With 20% of their wages being seized by a creditor, our working couple came to us for a solution. Their high interest debt payments were severely impacting their ability to pay their monthly cost of living expenses and support their family. It was destroying their lives.
Solution
Our aim was to immediately stop the wage garnishments, which we did. This allowed our clients to receive their next paychecks in full, pay their living expenses, and put food on the table. Next, we reduced their debt by 70% and reduced their monthly payment to a fraction of what they used to pay. This was accomplished with a Consumer Proposal.
