Sharon, a well respected career nurse, suddenly became a single mom. She was left with a large mortgage, a car payment, and $70,000 of credit card & line of credit debt, which by the way she herself did not create. Sharon’s three young daughters were her priority, but she was unable to spend the time required with them due to needing to work to service the debt. Sharon sold her house and downsized, but that still wasn’t enough and she continued to work her second job on the weekends. Being worn out and not giving the attention needed to her daughters. Sharon had no choice but to look for options to deal with the high cost of servicing the $70,000, afterall it was taking roughly $1500 per month out of her pocket.
Sharon went to see a company who claimed to be able to help her with her debt, but their plan was quite unattainable given her budget, and further to that they wanted to take back or collapse the RESP’s that were in place for her daughters future education. Could you imagine? Looking for help, only to find out that the “help” will make things worse.
Thankfully Sharon decided to get acquainted with some of the ins and outs of the “debt help” industry in Canada, and that is how she found us. We were able to prepare a similar solution for Sharon, however our plan ended up being roughly $30,000 less expensive, and she kept her children’s education fund intact! Do you think Sharon was happy that she decided to do some research before making a decision? I say it all of the time; when looking for debt relief, a well researched consumer is a 4 Pillars client every time hands down.
Now that is very quick story without many details as to how we were able to help Sharon get a plan in place. But what I will tell you in short, is that the creditors were at first not interested in her original offer. But because 4 Pillars is an intermediary representing solely the interest of our clients, we were able to bring the offer back to the table multiple times and work on behalf of Sharon to see this deal through to completion. If a company who claims to be able to help you get out of debt receives their funding from the creditors or is able to keep a portion of the money that is being paid back to your creditors, then they are unable to represent 100% solely your best interest. It doesn’t make them a bad company, simply put their hands are tied in this regard. That’s why more and more people every year, just like Sharon, are choosing to become a 4 Pillars client.
Congratulations to Sharon who now is in a completely different place financially, is spending time with her daughters, and doing the things that truly matter in life!