A member came to us looking for options to get out of debt. He had been going through several difficult life events, including losing his employment, a breakup, and having to move out. He was having a hard time keeping up with rent and food. After covering all of his financial obligations, he was left with just over $100 each month for food, gas, and dog food.
He was struggling with his monthly payments due to high interest rates. We were able to offer a balance transfer consolidation on a new credit card with Suncoast Credit Union at a 5.9% APR, compared to the 29.99% rate he had with another financial institution. With the lower interest rate and reduced monthly payment, he began saving $112 per month.
This allowed him to better cover rent, gas, and food expenses. He has since paid off his vehicle and is now looking into saving to pay for his citizenship.
