For Kim and John of Halifax, Nova Scotia, the journey to financial stability was not a straight path but one marked by challenges, setbacks, and ultimately, resilience. Over a span of more than a decade, they sought credit counselling twice, each time emerging with a stronger grasp on their finances and a renewed sense of hope for the future.
The First Round: A Struggling Young Family
In 2005, Kim and John found themselves overwhelmed by debt. John, originally from Northern Ireland, was frequently traveling between there and Nova Scotia, while they were raising a young child. They had recently bought a house, and, despite both of them working, they experienced financial strain.
“It wasn’t like we were splurging on luxury items or living beyond our means,” says Kim. “These were legitimate expenses—bills, mortgage payments, and day-to-day costs. But soon, we were living in overdraft, and things got out of control.”
The real struggle came from the high interest rates on their credit cards. “You get into a spiral,” she says. “If the percentages are high, you can barely pay the minimum, and you can’t get out of it.”
When their last credit card reached its limit, they had a stark reality check. Unable to refinance their mortgage sufficiently to cover their debts, they turned to their bank for advice, and that’s when they were introduced to credit counselling at SolveYourDebts.com.
Linda, their counsellor, provided not just a plan but also emotional support. “When we first met with her we felt a lot of shame and were worried about how she would respond to our debt levels, but she was so upbeat and understanding—it was very humanizing.”
With Linda’s help, they consolidated their debts and learned to manage their credit more effectively. They reduced their number of credit cards and started budgeting more carefully, which brought them some much-needed relief.
The Second Round: A Family Faces New Challenges
By 2017, life had thrown more challenges their way. Their daughter had graduated from high school and moved to Toronto for school, accruing student loans along the way. Simultaneously, they faced mounting health expenses, including significant costs related to mental health issues. The couple chose to help pay their daughter’s medical bills, but the added financial burden was overwhelming.
To cope, they moved in with Kim’s mother, hoping to manage expenses more effectively. However, as the bills continued to pile up, they realized they needed help again.
“I hesitated to get credit counselling again because I knew that the monthly debt repayments would be high, but I wish I had done it sooner,” Kim reflects. Kim and John reached back out to SolveYourDebts.com for help tackling $60,000 in debt and were connected with Gordon, their counsellor.
“Gordon was absolutely amazing,” John recalled. “He had our back, and he was so friendly and down-to-earth. We could talk to him about anything, even during tough times.”
The couple entered into a five-year debt repayment plan, with payments of $1,000 per month. It was challenging, especially during the holidays, but Gordon was always there to help them adjust their payments when needed.
Financial Freedom and New Beginnings
Today, Kim and John have been debt-free for two years and are enjoying the benefits of their hard work and discipline. They are now focused on saving for a trip to Hawaii.
Retirement has brought new opportunities for them to manage their finances wisely. They have learned to use their credit cards strategically—charging purchases to earn points but paying off the balance immediately to avoid interest. “The way we treat our credit cards now is very different,” Kim says. “We’re much more aware of our bills and budget carefully.”
Their experience with credit counselling has left them with a deep appreciation for the process. “We definitely would recommend doing it, and the sooner the better,” she advised. “Even if it seems like an expensive monthly payment, it’s totally worth it for the peace of mind. To have all the collection calls and stress go away, and to have someone advocate for you so you can sleep at night, is priceless.”
Looking back, Kim and John feel nothing but gratitude for the support they received. “Credit counselling was a godsend for us,” said John.
If you’re struggling with debt and want to seek advice from a credit counsellor, contact us today for a free consultation.
