How This 45 Year Old Avoided Bankruptcy

How This 45 Year Old Avoided Bankruptcy with Alberta Debt Specialists

Debt can be a major source of stress and anxiety. For Mary, a 45-year-old mother of two, it had been a constant struggle to make ends meet. With credit card debt piling up, Mary found herself in a dire financial situation. She was facing the possibility of bankruptcy and losing her house. It was a scary time for her and her family. But with the help of our financial advisors and a strong determination to take control of her finances, Mary was able to turn her life around and avoid bankruptcy.
In this article, we’ll explore the 5 things Mary did to overcome her financial struggles and achieve financial stability, inspiring others who may be facing similar challenges to take action and regain control of their finances.

Cut Unnecessary Expenses

Mary made a conscious effort to cut down on unnecessary expenses. Entertainment and dining out? Not necessary. Candy crush? Also unnecessary. She was able to focus on the important things, which allowed her to spend less and save more money.
How? She learned one of the most effective ways to avoid bankruptcy is to cut back on spending. When you’re in debt, it’s important to take a critical look at your spending habits. Begin by listing out your monthly expenses, and then go through each expense one by one.
Identify any expenses that are not necessary and cut back on your spending. This can include things such as dining out, subscriptions, and entertainment. Consider switching to a lower cost cell phone plan or cancelling unused memberships. Another way to cut back on expenses is to shop smarter. Look for deals and discounts on groceries, clothing, and household items. You can try using apps such as Flipp or Honey for deals and discounts. Consider buying in bulk or using coupon codes when shopping online. You can of course also save money by cooking meals at home instead of dining out.
It’s important to note that reducing spending doesn’t mean you have to stop having fun. Rather, it’s about prioritizing. Finding more cost-effective ways to enjoy the things you love. For example, instead of going to expensive concerts or events, consider checking out free community events or creating your own entertainment at home. But be sure the home entertainment isn’t costing you a leg and a half. By cutting back on unnecessary expenses, you can start to funnel more money towards paying off your debts. It’s not always easy, but making small changes can have a big impact on your financial situation.
Other ways to have fun Hiking, a popular option to have fun without breaking the bank

Took Advantage Of Help Available

Mary used the services offered by Alberta Debt Specialists to get her finances in order. She also used free resources like credit counseling and budgeting software to make sure that she was on track. When facing financial difficulties, it’s important to remember that you’re not alone. There are resource available to you that could help you avoid bankruptcy. This is exactly what the 45-year-old woman did to avoid bankruptcy. She reached out and made the most out of the help available to her.
There are many organizations that can help you manage your debt in addition to Alberta Debt Specialists. By working with credit counseling agencies and debt relief programs, you can find a way to consolidate your debts, lower your interest rates, and create a manageable repayment plan.
Also, it’s important to talk to your creditor yourself. Don’t be afraid to negotiate with them and ask for lower interest rates or extended payment plans. Many creditors are willing to work with you if you’re taking proactive steps to manage your debt. Hey, some money is better than no money at all right? Our experts at Alberta Debt Specialists help with creditor negotiations to make sure you’re getting the best outcome possible.
Next, don’t forget to educate yourself about personal finance and money management. Attend financial education classes or read books on personal finance to increase your knowledge. There are many great, free options available such as This can help you understand your options, and make informed decisions about your finances.
Taking control of your finances is a continuous process. Keep track of your spending, and adjust your budget as needed. By implementing these strategies and seeking help, you can avoid bankruptcy and take control of your financial future.
Ready to be debt-free? Our experts are committed to helping you achieve financial freedom. Click here to get started.

Invested In Herself

The 45-year-old also invested in herself by taking courses and learning new skills that would help her grow as an individual. Investing in yourself is an often overlooked part of achieving financial stability. For this 45-year-old woman, investing in herself meant taking courses, learning new skills, and networking with others in her industry. By investing in herself, she was able to become more valuable to her employer, which led to a promotion and an increase in her salary.
Investing in yourself could mean different things for different people. It could be taking courses to learn new skills, getting a professional certification, or attending industry conferences. It could also mean investing in your physical and mental health, such as hiring a personal trainer or therapist to help with stress management. There are many, many benefits to investing in yourself.
By learning new skills and expanding your knowledge you become more valuable to your employer or potential employers. This can lead to better job opportunities and increased income. You also become more confident in yourself and your abilities, which can help you in all areas of your life. Remember, investing in yourself is not only about investing money, but also about investing time and effort in activities that will help you grow both personally and professionally. It is an investment that will pay off in the long run by helping you to avoid financial struggles, achieve your goals, and lead a more fulfilling life.

Increased Income

To increase her income, she explored freelance opportunities and took on extra jobs. This was one of the most important steps that this 45 year old took to avoid bankruptcy was. While it wasn’t easy, this allowed her to make more money each month and use it to pay down debt and save money. She understood that, to become financially stable, she needed to have a steady stream of supplementary income coming in. To do this, she looked for ways to increase her income. One option was taking up a part-time job, which would bring in extra money to help pay off her debts. You may look for remote or flexible work options that allow you to work from home or on a part-time basis. She also looked into selling items that she no longer needed, such as clothing or electronics, on sites like eBay or Craigslist. Another option was to start a side hustle like freelance writing or selling products online. It turns out she was a prolific writer! Other options to learn a new skill that can help you earn more money, are coding, graphic design, or language translation. You can also start a small business from home, like baking or selling crafts. Increasing income is not an easy task, and it requires effort, time, and dedication. There are many ways to do it, even if you are a busy mom or have a full-time job.
By increasing her income, she was able to put more money towards her debts, which helped her get out of financial debt fasterRegardless of how you choose to do it, increasing your income can be a great way to improve your financial situation and avoid bankruptcy.

Controlled Spending

She also made a conscious effort to control her spending and be mindful of her budget. She developed a plan to track her expenses and stick to it. As a result, the woman was able to save money and keep her finances in order.
Thus, one of the key ways that this 45-year-old woman avoided bankruptcy was by controlling her spending. It’s not always easy to do, but it is absolutely essential if you want to stay on top of your finances. She started by creating a budget and sticking to it. But a budget doesn’t mean much unless she tracked her spending. So she carefully tracked every dollar that she spent, making sure to cut back on unnecessary expenses.
As mentioned earlier, this included things like eating out, buying brand-name products, and spending money on entertainment that wasn’t absolutely necessary. Instead, she focused on finding free or low-cost alternatives that still allowed her to live a fulfilling life. Until she was debt free at least.
Another way she controlled her spending was to avoid impulse purchases. A great way she did this was by make a list of things she really needed and stuck to it. She would avoid shopping when she was feeling emotional or stressed, as this often led to impulse purchases that she later regretted.
Finally, she made sure to pay off her credit cards in full every month. This kept her from accruing high-interest debt that would have quickly spiraled out of control. By keeping her spending under control, this woman was able to take control of her finances and avoid bankruptcy. It’s a lesson we can all learn from, no matter what our financial situation might be.


We hope you enjoyed our article about how Mary avoided bankruptcy. These tips can be a lifesaver for anyone struggling with debt, and they show that with focus and determination, you can get back on track. By cutting unnecessary expenses, taking advantage of help available, investing in oneself, increasing your income, and controlling your spending, anyone is able to avoid the worst-case scenario. If you are struggling with debt, remember that there is always help available. Don’t wait until you lose your car, home, and belongings. You may be able to avoid bankruptcy and get back on your feet just like she did. To schedule a free consultation with our experts click here. Feel free to contact us anytime if you have further questions or concerns. If you’d like to learn more about how you can pay down your debts and rebuild your credit using a debt relief program, check out our article6 Proven Methods to Clear Your Debt and Rebuild Your Credit.

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