How a Senior Client Overcame $58K in Debt and Saved Their Home

Manuel never expected retirement to look like this.

In his early 70s, he was working two part-time jobs, pulling long days, and stretching his pension income as far as it could possibly go. But, no matter how hard he tried, the numbers didn’t add up.

The harder he worked, the further behind he felt, and he didn’t realize — like many seniors in Ontario — that a consumer proposal could offer both protection and a practical path forward.

Life Before Relief: Two Jobs, Endless Stress

Before Manuel reached out for help, it felt like his debt was always one step ahead of him. He had a little bit of everything on his plate — credit card balances that kept growing, appliance refinancing that stuck around longer than expected, and a second mortgage he hoped would give him some breathing room. Instead, it just became one more bill to worry about.

Every month, more than $1,500 went straight to minimum payments, and once he paid his mortgage and covered the basics, there wasn’t much left to work with. Even small surprises, like a repair or a higher grocery bill, threw everything off.

What started as a few manageable debts slowly turned into something that controlled his entire budget. The interest kept climbing, the payments never felt like they made a difference, and the stress of trying to keep up was constant.

Signs of Strain

Manuel didn’t talk much about how worn out he was from working so much, but the exhaustion was always there. He worried constantly about his home and that fear followed him through most days. On top of that, carrying so much debt took an emotional toll. It felt like a weight he couldn’t shake, no matter how hard he tried to keep up.

The Turning Point: Meeting Gurjot Khurana

Manuel’s turning point came when he reached out to Farber and connected with Gurjot Khurana, a Team Lead and Debt Solutions Manager. Right away, he felt understood in a way he hadn’t in years. Gurjot didn’t rush him. He simply asked about his situation, his concerns, and what mattered most.

As they talked through everything, Gurjot helped him see the full picture — what he owed, what was coming in each month, and why the debt had become so hard to manage. He then introduced the idea of a consumer proposal and explained how it could protect his assets, pause interest, and bring his payments down to something realistic.

One of the first steps Gurjot suggested was opening a new bank account to separate his income from the debts tied to his old one. It was a small change, but it gave Manuel a sense of control he hadn’t felt in years.

Throughout the process, Gurjot explained everything clearly and patiently.

“I didn’t feel put down in any way,” Manuel shared. “Gurjot was respectful, patient, and kind.”

For the first time in years, he felt supported instead of stuck — and he could finally see a realistic path toward his own consumer proposal success story.

From $1,500 to $970: A Manageable Path Forward

The relief was immediate. Manuel’s consumer proposal reduced his monthly payments from more than $1,500 down to $970.

Instead of juggling several high-interest bills, he now had one structured repayment plan. For a senior on fixed income, this wasn’t just financial relief. It was freedom, it was dignity, and it was the chance for Manuel to breathe again.

Relief Beyond the Numbers

As Manuel moved forward, he didn’t have to carry the weight alone. His adult children joined him for the final sign-up meeting, something that meant more to him than he expected.

Gurjot made sure his family understood the proposal, what it covered, how payments worked, and how it would support their father in the long term. For Manuel, having his children involved brought peace of mind and emotional support.

Emotional Recovery

The emotional shift was just as meaningful as the financial one.

The stress lifted. The constant fear eased. And Manuel didn’t need to work himself to exhaustion anymore.

He finally had space to focus on living, not just surviving. His relationship with his family strengthened, and the shame he once felt around debt slowly dissolved.

Life Today: Stability and Hope

Manuel now maintains his mortgage without the same fear weighing on him. His budget balances in ways it never did before. He buys what he needs and not just what he can barely afford.

And perhaps most importantly, he has emotional clarity again. The heavy fog of stress is gone. He can see his future and it no longer feels defined by debt.

A Shared Mission

From Gurjot’s perspective, Manuel’s story is one he’ll always remember.

“What stood out was how difficult it was for him to work two jobs just to keep up,” he said. “With the proposal, he doesn’t have to push himself that hard anymore. He can focus on living, not just surviving.”

It’s why this work matters. It’s not just about eliminating high-interest credit card debt. It’s about restoring dignity, creating stability, and giving people — especially seniors on fixed incomes — a realistic path forward.

Need Help Like This? You’re Not Alone

If Manuel’s story feels familiar, you’re not alone. Thousands of Canadians face high-interest debt, mortgage pressure, and emotional stress every year.

A consumer proposal can pause interest, lower what you owe, and help you keep your home — all with the support of a Licensed Insolvency Trustee (LIT) to guide the process.

At Farber, we take the time to understand your situation and help you find a plan that fits your life. If you’re ready to explore your options, book a free consultation today and learn more about reducing debt. Taking the first step could lead to your own consumer proposal success story.

Gurjot Khurana is a dedicated Debt Solutions Manager, Team Lead who is passionate about helping people manage their financial challenges. He takes the time to listen carefully to each client’s situation and provides customized solutions that fit their unique needs.

He has over five years of experience in the financial services sector and more than 10 years of working directly with clients. He is dedicated to understanding each client’s unique situation and helping them find the best solutions for their debt. Gurjot’s goal is to help clients feel confident and supported as they take steps toward a better financial future.

Real Stories from People Who’ve Been There

Many Canadians have found a way forward through a consumer proposal.

Andre’s story: When Andre’s wife unexpectedly lost her job, he suddenly became the sole provider for their family. What started as a temporary situation quickly became overwhelming. Bills piled up, credit card balances grew, and their financial stability began to unravel. Feeling the weight of constant stress and growing debt, Andre reached out for help. Through a consumer proposal, he was able to reduce his monthly payments and stop the collection calls. It gave his family room to breathe—and a chance to rebuild their lives without fear.

Lisa’s story: Lisa, a full-time caregiver in Ontario, spent her days supporting others—but behind the scenes, she was barely staying afloat. Juggling household bills, caregiving duties, and over $75,000 in debt left her exhausted and anxious about the future. She knew something had to change. A consumer proposal helped her lower her debt to a manageable level and freeze the interest. For the first time in years, Lisa could focus on her family and her own well-being—without debt dictating every decision.

Delores’s story: Delores, a working mom in Ontario, was facing over $230,000 in debt, legal action, and the emotional toll of doing it all alone. After a business was registered in her name without consent, she found herself responsible for massive liabilities and constant creditor calls. With two kids to support and no clear way out, Delores felt trapped. A consumer proposal helped her stop the lawsuits, avoid wage garnishment, and regain control with a manageable monthly payment. For the first time in months, she could breathe again—and start building a future with hope.

Omar’s story: In his twenties, Omar was buried under $35,000 in credit card debt, with monthly payments nearing $700. The stress became unbearable, forcing him onto sick leave and isolating him from friends and family. He felt stuck—until his mother reached out to Farber. With the help of Carol, a compassionate Debt Solutions Manager, Omar filed a consumer proposal that lowered his payments to $225 and stopped the collection calls. For the first time in months, he could breathe.

Susan’s story: In her early fifties, Susan was drowning under $60,000 in high‑interest debt, with minimum payments close to $1,800 each month. The strain weighed on her marriage, her health, and her peace of mind. Collection calls became constant, and she felt trapped with no way forward. That changed when she connected with Erika Watson at Farber. With Erika’s guidance, Susan filed a consumer proposal that reduced her payments to $650 and stopped the relentless calls. For the first time in years, she could breathe, focus on her family, and rebuild her life with confidence.

Richard’s story: After a serious injury forced Richard out of the Canadian Armed Forces, he was adjusting to life on long‑term disability when a surprise $30,000 CRA tax bill turned his recovery upside down. With the CRA threatening to take money directly from his pension, he felt cornered and overwhelmed. Working with Farber, Richard filed a consumer proposal that immediately protected his income and reduced the CRA’s demand from $1,400 a month to an affordable $1,075. For the first time in months, he could breathe again — and begin rebuilding his life with stability, dignity, and a clear path forward.