Project Description
William was working for a nonprofit and suddenly his hours at work were reduced for about 9 months. He lost almost 25% of his pay, which created substantial financial strain to his family. He feels that he is living off of credit cards to raise his family now. A majority of his payments are going towards interest and not towards his balance.
Income: $3500
Total Accounts: 16
Debt: $43,600
Credit Score: 600 (below poor)
Credit Utilization: 68%
Spending: $1,500 in monthly payments towards debts ranging between 6 – 24%
Goal
He is looking to consolidate his debt and get back on track. His main goal is to rebuild his credit profile, start saving money again and be able to support his son in college.
How We Helped
By working with Reb0und, William and his financial advisor were able to consolidate all his debts into one single monthly payment plan where he is now back on track to become debt free and rebuild his savings account.
Reb0und is saving his family almost $11,000 each year in interest by not paying the minimums. He will completely become debt free in 48 months with a restored credit profile.
Let us help you succeed in finally becoming debt free.
New Consolidated payment for William will be $608 for 48 months.
