written by: Alek Smyth
I had never thought that I would ever end up in any kind of debt situation as I went through college. The fact of the matter is that everyone aspired to be something great which was part of my dram too. I had already gone through school by picking a loan which my parents helped me pay. Things took an unfortunate turn of events when my dad passed away in my last year and mom went down with depression. The payments ceased which meant that I had to get a solution for the payment of the debt fast. I managed to handle the school debt which also meant that I had to get a job.
Working for a convenient store was not my idea of a dream job but was the only thing that allowed me to work and study at the same time. I was too busy to realize that I had gotten into debt since I was new supporting my ailing mother. I borrowed from my bank an unsecured loan in the light of finishing my education which was not as hard as I thought. The trick however was paying back the borrowed money at the end of the day. My mom finally succumbed to her illness and passed away. All I had to my name was the house and work. It was hard making ends meet considering that most of my relatives were not in the country.
I finally completed school in the same year and got a better job in a marketing company. The pay was not as much as I expected and did not do much to sort my debt situation. The interests were killing me and I had to find a solution. I had heard about an Alberta debt consolidation service but most people I new called it a con for some reason. It was all about borrowing money to cover borrowed money. This did not make much sense but I was desperate enough to try anything. I walked to my bank and asked for more information. It occurred to me that I could actually bring all my debts together and pay them all off using the house as collateral. The interest rate they were giving was far much better than all the individual debts. This would get off many callers off my back which was good news.
I finally decided to take the step and I have never regretted it to this day. I am working more comfortably now, able to save and no debtor is after me. The lower interest rates allow me to save form my salary which is welcome news as I can still develop myself while settling the almost sorted out debt!