Project Description
Raymond Libby and Elizabeth Cantu just graduated from college and announced their engagement. They both have personal debt totaling $37,400 in cc’s, personal loans, and in collections. Currently are struggling to pay it off faster so they can start to plan for their future. Both have income restrictions due to their recent reduction in overtime and Raymond’s recent job loss.
Total Income: $4000 (reduction in Overtime)
Total Accounts: 10
Debt: $37,400
Credit Score: 580 & 610 (below poor)
Credit Utilization: 93% (almost maxed out and paying high interests on debt)
Spending: $1400 in monthly payments. High interest rates between 24-50%
Goal
Both are looking to become debt free so they can avoid delaying life’s milestones such as buying a car, home and eventually raising a family.
How We Helped
Reb0und’s financial advisors were able to help the newly engaged couple put together a financial plan where they were able to save $1,400 per month, help repair their credit profile and build a saving plan for life’s milestones. With the current plan, they will get out of debt in 2 years, while saving for a car and home.
Let us help you succeed in finally becoming debt free.
New Consolidated payment for Raymond and Elizabeth will be $584 for 48 months.
