First we will show you information Mark posted in his questions and answers area. Then we will add some commentary on the case file. Then we will discuss what he chose to do about his debt issues.
Why are we doing this?
We discuss that a bit here – when we post these case files other people can see that they’re not alone, and they may learn something about their own debt problems/solutions in the process. Also, when we have these case files published on our site it acts as a catalogue so we can direct people where to make their applications for a particular service.
Peter singing about $30000 in credit card debt….
So let’s get started with the case study for Mark in New York.
New York NY Debt Relief $30000 For Mark
This case file is for Mark P. He allowed us in his case to use his full name which is Mark Peters. He is a Social Media Director working for a small business in New York, New York.
First we see the information Mark gave us regarding his debt. He explains that he found Debtfiles.com using the Bing search engine, and he allowed us to publish his information. He goes on to say that he has never claimed bankruptcy. Furthermore, he tells us there have been collection agencies after him.
He hasn’t had anything repossessed yet, he’s 46 and has a gross monthly income of $5200. His Visa Card balance is at $5000, his American Express card balance is at $19000, his Discover Card balance is at $6000. He doesn’t have any car loans, and he doesn’t have any other debts on file.
He then tells us that his credit scores are bad with Experian being 450, Equifax being 464 and Experian at 478. He can afford a monthly payment at $650. He rents his home, he works full time, lives in Queens NY, and his bank is the Bank Of America.
After that he lays out the three reasons why he is in debt. In this case he claims it’s mostly because of marriage issues.
I HATE THIS DEBT CRAP!!!
New York Debt Relief $30000: Mark’s Data
How Did You Find Us: Bing
May We Publish Your Story? (we PROTECT YOUR PRIVACY!): Yes
Ever Claimed Bankruptcy?: No
Have Collection Agencies Contacted You?: Yes
Any Repossessions?: No
First Name and Initial: Mark P.
Gross Monthly Income: $3400
Visa Card Debt (if no type none): $5000
MasterCard Debt (if no type none): None
Amex Card Debt (if no type none): $19000
Other Credit Card Debt (if no type none): Discover Card $6000
Monthly Payment You Can Afford: $450
City: New York – Queens
State: New York
Credit Score(s): 450,464,478
Income Sources: Full time employment
Main Bank: Bank of America
Mark’s bank manager…
Details from Mark in New York: Debt Relief $30000
Work History Detail:
I went to school in Yonkers New York and studied for three years before I graduated with a degree in commerce. I now live in New York and I have been working ever since I graduated. I have been with the same company for over seven years now. I like my job and and it is very secure so I can easily afford to make the payments against my debt. I also make money on the side looking after cats and dogs. I have a huge animal lover and at the same time and make some extra money towards my bills.
Main Reason for Mark’s Debt:
The biggest reason I have done is because I ran into some trouble in the three years leading up to my divorce. My wife who now lives in Eastchester New York is remarried but I still have the residual from when we tore up the sheets. So the main reason for my debt would be a bad lifestyle and divorce.
2nd Reason for Debt Relief:
Another reason for my debt is because I had to take a leave of absence for couple years so I can look after my ailing father and my ailing mother. Both of them have passed away no unfortunately but I am left with this debt because I really wasn’t making as much money due to the lack of man-hours I was pulling in.
3rd Reason for Debt Settlement:
I suppose the other reason for my debt is because of simple bad choices and lack of budgeting. I have never been very good at handling the budget and things got out of control when my wife started to fight and our marriage started to unravel. Divorce was the main reason I would say but being careless with her money really added to it. Money was one of the biggest reasons we would fight in our marriage and it is the reason I think in the end we called it quits. My wife at the time had quit her job working for the city of New York and this causes a lot of stress with financial matters because we were already tapped out the maximum.
Mark’s Extra Information:
The only extra information I could get was that we really need to get this sorted out quickly. I’m not sure yet if I want to get a dirt relief idea or a debt settlement are you going. I don’t think I can get approved for consolidation loan because I have really bad credit. As you can see the more credit scores are all in the 400s I don’t think I have a flying chance of getting anything going as far as that’s concerned. from what I have read online it doesn’t look like it would have any chances of getting a consolidation loan and I certainly don’t want to claim bankruptcy so I think a debt relief settlement idea is probably where I’m going with this. Please take a look at my information and tell me if that makes any sense to you. I really do want some help with some ideas here as I am out of my depth when I comes to finances. I know that I have to get with it starts understand these things especially when you consider I’m in my mid 40s pretty soon. It’s quite embarrassing I must say to be like this as far as money goes especially when I am at the age I’m at. I have had some rather nasty build collectors calling me at all hours of the day and night because they want me to pay some money on my Credit cards. Problem is is that I don’t have anyway to make any decent payments and I can’t even make the monthly minimum payments anymore on any of my cards. I’ve tried a few of the different ideas I’ve read about on the Internet but it doesn’t look like this is going to work anyways.
And it’s a beautiful day…
Conclusion of Debt Relief Settlement in New York NY
Mark ended up using a debt settlement service and the firm he used negotiated he pay back percentage to all of his creditors. In this case it was a good thing all of his debt was on his credit cards.