Neighbor News
“I Wish More Folks would Think Like this then just maybe I could help many more Clients”
Coaching to fix credit
“I Wish More Folks would Think Like this then just maybe I could help many more Clients”
This
is one of those cases of, “When bad things happen to good people”.
Unfortunately there was so much damage done to their credit scores that I
just can’t help them today.
I
have given them a bunch of coaching to assist them to get their credit
scores up. Once we have accomplished where we need to be, then I can get
them a new mortgage.
There are more challenges when clients are in bankruptcy or going in that direction:
A combination of things led up to our current financial situation. Number one being, I lost my teaching job because of school downsizing. This cut out $50,000 of annual income. Secondly, John's salary was reduced by $30,000 and annual bonuses that we relied on were no longer being given by his company. Our family income took approximately a $100,000 annual loss. As a result, we struggled to make timely payments to various creditors. We
entered into Chapter 13 Bankruptcy as a last resort and our home was
not part of any agreement as we continue to make our mortgage payments. We also make our car payment too and various household expenses like cable, electricity, etc. Chapter
13 has allowed us to payback our creditors at a reduced rate, which was
important to us because we have always prided ourselves on being
financially responsible. This arrangement allows us to at
least pay back the majority of our debt instead of a Chapter 7, where we
would just walk away from our debt - that is against our core beliefs.
Image courtesy of StuartMiles/Freedigialphotos.net
