Project Description
Robert & Bonnie have been retired for 3 years. They are both in their 70’s and have been carrying credit card debt for the past two years. In addition, they have been contributing to their grandchildren’s 529 college saving plans. Both are thinking about refinancing their mortgage to pay off their high interest unsecured debt and any upcoming medical expenses.
Income: $6,800
Total Accounts: 12
Debt: $78,988
Credit Score: 610 (declining)
Credit Utilization: 83% (almost maxed out and paying high interests on debt)
Debt to Income: 83% (using majority of their take home pay to pay off debt)
Spending: $3500 in monthly payments. High interest rates between 16-30%
Goal
They want to consolidate their debts before they become unaffordable and free up cash flow to continue supporting their grandchildren’s future and address any unforeseen medical expenses.
How We Helped
By working with Reb0und, Robert and Laura were able to consolidate their debts into one single monthly payment plan.
Reb0und helped Robert and Bonnie save almost $2,200 per month, get back on track financially and created an accelerated consolidation plan to help maximize their monthly pension and social security income per month to finally live a stress free, build a medical savings plan and help continue support their grandchildren and avoid foreclosing on their home.
Let us help you succeed in finally becoming debt free.
New Consolidated payment for Laura will be $1,234 for 48 months.
