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Case Studies

Case Studies

Truck Driver: A self employed truck driver had his combined debt of $60,000 payable to various credit card issuers and Revenue Canada reduced to $18,000. The interest was reduced to 0%. He continued to pay his mortgage, car, and truck loan and he kept his business.

Family: A couple with two children had their debt of $45,000 reduced to $15,000 and they could repay it in 60 equal monthly payments of $250 per month. The phone calls from bill collectors stopped immediately and they continued making their mortgage and car payments.

Single Parent: A mother with two dependants had $28,000 of debt and $13,000 in student loans. She had graduated school over 7 years ago and was unable to pay off any more than the interest. DebtCare Canada was able to eliminate all of her debts including the student loans. Now her disposable income was available for her to provide for her family and her kids education.

Elderly Couple: Two pensioners living on a fixed income had no choice but to use their credit cards to pay medical expenses. Their combined income left them unable to manage payments on $35,000 of debt. All their debts were eliminated allowing them to live on their fixed income and relieving their stress caused by carrying too much debt.

Store Owner: A store owner had his combined business and personal debt of $54,000 reduced to $18,000. He also kept his house, business and RRSP.

Restaurant Owner: A self employed restaurant owner approached DebtCare Canada with the following problem: $50,000 owing to Revenue Canada, $10,000 owing to GST, and credit card debt of $30,000. By participating in one of the government options, the owner has managed to eliminate all of his above-noted debt. He was allowed to keep his house, vehicles and the restaurant.

Couple (engineer and nurse): An engineer and his spouse who worked as a nurse eliminated their $60,000 of credit card debt along with their mortgage obligation. He had lost his job and their combined family income was not sufficient to pay their mortgage on a monthly basis. They couldn’t sell their house for a high enough price to pay off their mortgage. They were allowed to stay in that house for three months without making a mortgage payment. After vacating the property their mortgage shortfall along with their credit card debt had been reduced to $12,000 and they were allowed to repay it at their own pace without interest.

Doctor: A medical doctor owed $450,000 to Revenue Canada for outstanding taxes. On top of this, he faced $80,000 of credit card debt. DebtCare Canada has managed to reduce his total debt obligation to $96,000.

For further information please call us today and we will try to assist you.

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