Laura is a single mom who is working, but still has college loans, recently had a baby and is now dealing with unexpected home expenses.
She had to leverage her credit cards to pay for these additional expenses. By leveraging these credit cards, she’s now noticed her credit is starting to decline after accruing more and more debt.
Total Accounts: 4
Credit Score: 660 (declining)
Credit Utilization: 83% (almost maxed out and paying high interests on debt)
Debt to Income: 73% (soon will run out of money to pay for her debt)
Spending: $850 in monthly payments.