From Credit to Cash

“My credit card debt was something that developed over several years,” begins Karen*.

“My mother was ill and I was traveling back and forth a lot. Credit cards were a convenient way to pay for what I needed. I also moved several times and used my credit card for security deposits.

“I found I had to work overtime just to make the minimum monthly payments and wasn’t getting anywhere. This was even before the credit card companies were raising their rates.”

Karen found out about Tabor’s credit counseling services in the yellow pages and decided to call because it was approved by the Better Business Bureau. She came in for an interview with Yvonne. “Yvonne was wonderful,” she says, “very kind and helpful. I left the interview feeling that paying off my nearly $95,000 debt would not be impossible. Working with Yvonne allowed me to save $300 a month in payments just by the creditors reducing their interest rates, some even to zero.” Even then her monthly payments were 37% of her salary.

Karen eventually paid off the entire principle of her debt and interest in 55 months. Now Karen has no credit cards, just a check card, so if the money isn’t there, she doesn’t buy it. She went 2 ½ years without a washing machine and used the laundromat. She is now working to pay off her mortgage before she retires. “I’ve gotten a whole lot smarter,” she says. She has done things to lower her electric bill, such as using fluorescent light bulbs and adding thermal curtains to her windows.

“When I needed to replace my car, I sold it to a mechanic at an auto auction and paid cash for my replacement car so I wouldn’t have a car payment."

"I would definitely recommend Tabor to others. There is no way I would have paid off this debt on my own. Tabor gave me a structure making it easier to do.”

*name changed

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