“It was a financial wake up call” – How Sunny paid off $15,000 worth of debt
June 7th, 2017
In 2011, Sunny decided it was finally time to face his $15,076 worth of debt head on, he just wasn’t sure where to start.
After considering bankruptcy and deciding that might be his best option, he went to work thinking his mind was made up. However, this plan was quickly changed.
Sunny and a co-worker went to the cafeteria for lunch when they saw a Money Mentors commercial playing on TV. She suggested he call in and see if they could help, and so he did just that.
He vividly remembers his first appointment with his counsellor, Glen.
“He told me it would not work if I was not committed,” said Sunny, and those words changed everything. Sunny decided that day that the Orderly Payment of Debts program was what he wanted to do, and left his appointment feeling confident that things would get better.
WHERE DID IT START
When asked how he managed to get into over $15,000 of consumer debt, Sunny simply said that he was spending money on things he didn’t need.
“My paycheck would be gone within 3 days, and I would wait until the next paycheck came in,” said Sunny. “If I was getting behind on payments I would just use one of my credit cards to make up the loss.”
Within three years, he had racked up all his credit cards and was starting to become worried.
“I was depressed and I was losing sleep thinking, what’s going to happen?”
Sunny said the realization came after he started receiving collection calls from not only his creditors, but his insurance company, his utility company, and more.
“I was worried that not only was I going to lose the possessions I had already paid for, but that I was going to go back to having nothing,” said Sunny.
MAKING A CHANGE
After coming into Money Mentors, Sunny started to focus on planning and building a routine that would allow him to achieve his financial goals. His mantra was that “nothing really happens unless you make a plan and stick to it”.
“It changed my life, and it made me grow as an individual,” he said.
Sunny stopped spending frivolously on clothing, electronics, and dining out with friends. He started making meal plans, budgeting, and focusing on his goal of becoming debt free.
“You guys made my life better,” said Sunny when talking about Money Mentors. “It was a financial wake up call.”
His monthly payments still allowed him freedom to put money into a savings account, and adjust his lifestyle to match his income.
His favorite part of the program? That he no longer had to make 10 separate payments, but one.
He also said that what most people might not know is that Money Mentors helps you take control of your money and prepare a budget. “I now save 10% of every paycheck,” said Sunny. “And when the holidays come around and spending goes up, I am able to control my expenses.”
DEBT FREE AND BEYOND
When Sunny finally made his last payment, he said he didn’t even see it coming.
“Someone called me saying that my last payment would be going out and I said oh, my last payment?!” he laughed.
He and his best friends went out to celebrate, because he worked hard to accomplish a goal, and was feeling as though he was on cloud nine.
When asked what advice he would give someone going through a similar situation, Sunny got serious.
“Step back and look at yourself and your environment and the people you surround yourself with,” he said.
“Look at your life, and realize that maybe your surroundings are the reason you spend the way you do.”
Sunny is currently saving for a down payment on a home, and is working to become an EMT. He now knows that the people he wants in his life need to have similar values and goals when it comes to money.
“Not only do I now have money goals, but I also have life goals.”
Money Mentors would like to thank Sunny for coming forward and sharing his story, and also give some enormous congratulations on his future of living life debt free!
If you would like to share your story, please contact us at firstname.lastname@example.org
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