Jorge: Setting A Good Example

When Jorge’s children ask him for money, he doesn’t give it to them. He makes them earn it, helping out with yard work or little chores around the house. Sometimes you’ll even see them helping out at the loncheria he operates from a truck in northeast Vancouver. It’s important to him that they learn the value of money.

Not long ago, Jorge got in over his head with debt. It bothered him deeply, but he refused to explore bankruptcy. Instead, he looked into refinancing his home and using his equity to pay off his debts. Rather than refer him to a broker, Jorge’s realtor directed him to the Community Housing Resource Center.

Jorge speaks better English than he admits, but he was more comfortable discussing his finances with our Spanish-speaking counselor. The two of them sat down to review Jorge’s household budget. Together, they developed a savings a plan so that Jorge could put aside a little extra money every month. It didn’t take long before Jorge was back in the office with money for a settlement. The savings didn’t come without sacrifice, but Jorge was determined to pay off his debt as quickly as possible. When Jorge and our counselor called the collections company with Jorge’s offer, they deliberated for thirty tense minutes. Finally, the agent came back on the line to say that the company would accept. Jorge had saved almost $10,000.

Putting the debt behind him is a huge relief. “I can rest now,” he says with relief. He’s earned a break, at least until the next time his kids ask him for money.

----Lea la historia en español aqui.----