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.
Total Accounts: 16
Credit Score: 600 (below poor)
Credit Utilization: 68%
Spending: $1,500 in monthly payments towards debts ranging between 6 – 24%