A decade ago, Beau Humphreys was in deep financial trouble. At 28 years old, he had $40,000 CAD worth of high-interest debt, which was more than he made in a year.
He racked up a lot of that debt through online gambling. Humphreys went through periods where he got his debt down to $35,000 only to see it creeping back up again. Sometimes, he had to ask a friend to help him make rent. It got to a point where he decided to do something drastic.
Like a growing number of millennials, he filed a consumer proposal, which is a legal option, and an alternative to personal bankruptcy, to help him tackle his debt.
It saved my life, he said. It was a scary time and I couldnt even handle the minimum payments anymore. I ran out of balance transfer…
Read the full article at: https://www.vice.com/en_ca/article/bj93d8/living-without-credit-solved-my-money-problems