Success Stories

Brian*, a 21 year old full-time worker was concerned about how much debt he was carrying. These concerns fueled his decision to go see a nonprofit credit counseling agency about options for dealing with his debt. In addition to his full-time day job, he works another part-time job, leaving him working virtually every day, evening, and weekend. Even though he had no free time and was working around the clock, Brian was committed to paying off his huge debt load. The credit counselor and Brian went through his budget together and made adjustments and changes to allow him enough extra cash a month to enroll in a Debt Management Program, which is a program offered by many credit counseling agencies and allows a client to make one lump payment to the agency each month. The agency then distributes the money to the client's creditors. Many times a credit counselor can negotiate better terms with the creditor, such as reduced interest rates and waived late fees, making it easier to pay off the debt.

Brian was excited to learn that he'd be able to afford a $728 monthly payment to the program with the execution of the counselor's suggestions. These included putting the kibosh on Brian's rent-to-own television and Xbox. After he kissed his TV and Xbox goodbye, he started working on making the $728 payment to the plan. The end result? Brian was debt free after 6 months, an incredible feat!

Now that the crushing weight of debt is lifted off his shoulders, he can start saving money for his future financial goals. And hey-- he could even write down the goal of having a bigger, better, 50" plasma if he wants. Or better yet, how about a day off?

*Name has been changed.