Low-income earners can still be debt-free. We featured 3 interesting stories of low-income earners who resolved their debts. Read on to learn how they did it.
Everyone nurses the dreams of living free of debt and having solid financial capacities. However, our goals may be dashed on the rocks when we make poor financial choices or fall into unfortunate situations that may affect our income, expenses, or financial stability.
Debt is a cause of increasing worry in the United States. Experian records that Americans owe an average debt between $20,803 – $146,164. With an average minimum wage of $15,080 per annum, residents may have limited options to pay back their debts on time and comfortably.
Nonetheless, earning at least $1,500 monthly may allow someone to resolve their debts, even if not paying in full. Thanks to private debt relief programs, some consumers can receive help in negotiating their debts. One company that can assist is TurboDebt.
What they told us
Stephanie Cruger
Stephanie is a single mother living in Ohio. With three little kids to fend for, she had to dangle between jobs making a little over $2,000 per month. However, when Stephanie fell sick late in 2019 and couldn’t maintain her job, her debts soared.
“It was a crazy period for me. I couldn’t afford to get my babies the right foods or the right clothes. I was too sick and broke to hire help to take care of them properly,” Stephanie told us.
When she eventually got better, her debts piled up. With increasing expenses, Stephanie could only pay down her debt once she started working out her debt with the help of TurboDebt.
“They got an incredible team who understood that people struggle to live beyond their debts. I had a helpful consultation, and a TurboDebt representative signed me up for a debt relief program to resolve my debts throughout the program.”
Tom Briggs
Tom had a more exciting story. He was well-off a couple of years back but made so many poor investment decisions that twisted his fortune and plunged him into heavy debt.
“I felt like I was fading away. My businesses were crashing. I laid off many loyal staff and couldn’t afford to pay the rest. It got so bad I couldn’t deliver client requests cause the money was just never enough”.
Tom took to gambling to find a quick way out of the incoming total crumble, but it only increased his debt and scarred him psychologically.
When he decided to work with the TurboDebt team, they assisted in signing up for a private outside debt resolution program that helped settle his credit card debts during his multi-year program.
Frank & Lisa Hayes
Frank and Lisa tied the knot in 2018 with about $27,000 in credit card debt. At first, it didn’t look so bad as Frank had an excellent 6-figure job. However, when he got laid off from his work, paying off their huge debt became a priority.
Frank’s new job did not pay as much as his previous, so the couple had to work hard to thin down their expenses. No thanks to inflation, it got even more challenging to work out a reasonable plan to offset their debt.
Lisa said, “we had no choice but to seek the help of a debt negotiation company, and TurboDebt came to the rescue.”
“The experts at TurboDebt helped us get a deadline and worked us on how to pay back in bits within the expected time frame.”
What you should know
Like Stephanie, Tom, and Elvis, we might not foresee the hard times coming. However, with careful planning with an expert team, you can work to resolve your unsecured debts and begin on a fresher slate with a more precise road map.
However, the first step is booking a free consultation session with the TurboDebt team. During this session, you would let them know of your issues and receive workable suggestions on how to solve them with the assistance of a debt settlement company and debt relief program.
Next, cooperate with debt management experts to select a debt relief program to help you fix your debt. Note that your collaboration is necessary to get a better solution to your debt issues, therefore, ensure you implement the suggestions as directed.
Author
*This website receives compensation from companies mentioned in our advertorials. The stories told are dramatized for added interest. Perform your own research and due diligence before signing up for any programs.