How David Paid Off $36,000 of Debt to Regain Financial Freedom
Debt can take over your life — but it doesn’t have to. For David, debt wasn’t just a number on paper. It was always there — the background noise in every moment. Carrying $36,000, he felt the weight in nearly all aspects of his day. Things started to shift when a co-worker quietly mentioned Money Mentors. Just a free consultation, they said. No pressure.
David booked an appointment with a credit counsellor the very next day.
“I was nervous. But there was no judgment,” David said. “My counsellor was great. He never once said you must do this, this, or this.”
That conversation led David to the Orderly Payment of Debts (OPD) program — a government-approved debt management program administered by Money Mentors on behalf of the Government of Alberta. It gave him structure and breathing room to finally face what had been weighing him down for too long.
He describes the shift as “night and day.” Through OPD, David was able to consolidate all his debts into one easy-to-manage monthly payment with a fixed 5% interest rate. Alongside that came ongoing guidance and support from his accredited financial counsellor — someone who helped him stay focused and make lasting change.
Why Minimum Payments Can Keep You Stuck
Like many Albertans, David started with good intentions. He stayed committed to making payments, doing what he could to manage. But minimum payments, while a start, often only slow things down — they don’t create that momentum you can really see or feel.
That’s why the shift to the OPD program made such a difference. Instead of juggling unpredictable bills and growing interest, David had one consistent monthly payment and a clear plan. With every payment, his debt moved in the right direction — down.
Dealing With Debt in a Relationship
David’s debt began when he loaned money to a former partner. Without any legal documentation, he had no way to reclaim it.
“It’s fine to help someone out that you care for, like $50 here or $100 there – if you have the money in your budget that’s fine. But it becomes dangerous when you’re borrowing thousands of dollars.”
Managing money in a relationship can be complicated. For David, that experience shaped how he approaches financial boundaries. Now, he surrounds himself with people who live within their means and spend responsibly. He also talks more openly about finances with his current partner and friends and says their honesty has helped him feel even more confident in his saving habits.
When Consolidation Loans Don’t Work, OPD Can
Debt consolidation loans can be helpful, but they’re often hard to get — especially if you have a lot of debt or a low credit score. For some, like David, borrowing more wasn’t the answer — and thankfully, it didn’t have to be.
The OPD program, on the other hand, didn’t require a new loan or a credit check. And it came with real structure and support.
Here’s what made the difference for David:
- OPD isn’t a new loan — no credit check required
- Fixed 5% interest rate (far lower than most cards or payday loans)
- Stops debt collection calls and wage garnishments
- One monthly payment over a few years, not decades
- Personal support from an Accredited Financial Counsellor
It was a steady path toward real progress.
Forming a New Relationship With Money
At first, David was unsure about even talking to someone about his debt. But what he found in that first meeting wasn’t shame — it was support.
David committed to the OPD program for two and a half years. It wasn’t easy. Living on a strict, cash-only budget meant making real sacrifices — but also building lasting habits.
“I still live on a cash-only diet; I budget daily, weekly, monthly, and yearly,” David said.
That kind of discipline showed up in small decisions. Even something like a coffee invite had to be considered carefully.
“If people at work say, ‘Hey David, let’s go for a coffee,’ I’ll say, ‘Sorry, but that’s not in my budget today.’”
But he didn’t just cut back — he got creative.
“I’ve had to give up many things that I used to love to do, like travelling, vacations, and buying nice clothes. But I also became an expert on how to find things within my budget. I learned how to do coupon shopping, I learned how to get discounts, and I learned to be patient with market sales.
Through OPD, he learned what real money confidence looks like. And that kind of skill? It sticks.
Talking About Debt Shouldn’t Feel Off-Limits
David’s debt started when he loaned money to a former partner — without paperwork or legal agreements. He had no way to recover the funds.
“It’s fine to help someone out that you care for, like $50 here or $100 there – if you have the money in your budget, that’s fine. But it becomes dangerous when you’re borrowing thousands of dollars.”
That experience changed how David approaches relationships and money. He now surrounds himself with people who spend responsibly and encourages open conversations about money with his partner and friends.
He also recognizes the gap in financial education early in life.
“It’s funny, because my parents were great with budgeting, but somehow there was a disconnect,” he said.
The Importance of Financial Literacy
Today, David is proudly debt-free. And what he values most now isn’t just the financial freedom — it’s the confidence that came with it.
He hopes more Albertans can talk openly about debt and money, and praised Money Mentors for its commitment to providing free financial education to youth in the community.
If he could go back and give his younger self one rule?
“Save 10% of each paycheck.” That simple habit, he believes, would’ve created the emergency fund he needed before debt ever became a problem.
Ready to Start Your Debt-Free Journey?
You don’t have to stay stuck making minimum payments that barely move the needle. And you don’t have to rely on hard-to-get consolidation loans to move forward. There’s another option — just like there was for David.
The Orderly Payment of Debts (OPD) program offers real peace of mind. It stops debt collectors, simplifies your repayment, and protects your paycheque — all while helping you build better financial habits that last. There’s no pressure, just practical support from people who understand. David didn’t expect one conversation to change everything. But it did.
