Fresh Start Debt Negotiation
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Debt Negotiation Case Studies
Story #1: 
This is the story similar to many thousands of people around the USA looking for personal debt relief. It all started by becoming seriously ill and then having to deal wtih imposing medical bills that mounted afterwards. Even if you have medical coverage, it may not be sufficient. Hopefully, our new President (Obama just got elected) and his administration can work toward solutions that can avert total financial difficulties like this example.
This woman went into surgery after being ill for many months. She was not able to work the last few months leading up to the surgery and then it took about one year to recover from the surgery. The medical bills and follow-up medicine were overwhelming. The family could not meet their basic expenses on one salary, so the credit cards came out to make up the difference.
To avoid losing their home, they decided to use the assistance of Fresh Start Debt Negotiation to work themselves out of debt over a period of 36 months. Fresh Start Debt Negotiation used their local attorney to review their case to recommend their best course of action. They were able to do the debt negotiation program because they were committed to following the program by responsibly saving a little each month. They are now happy to see the light at the end of the tunnel, instead of taking decades to pay off their debts at their current rate.
Story #2: Here’s the story of a couple which shows how medical bills can severely impact a family’s finances. The crisis started when the husband needed to be hospitalized for two weeks because of an aneurysm. After the expense of the hospitalization, he needed almost 12 months to recover before he could work again. Of course, during these 12 months, the bills started to mount. Once he did recover enough to work, he was not able to find a full-time job. Additionally, not being able to drive, he was limited on what jobs he could find.
During better previous years, the couple had acquired a couple rental properties. With the down economy, one of them has not been rented. The options had run low for this couple. They even tried to get a home equity line of credit on their primary residence, but the banks refused. The wife has been holding down two jobs just to stay barely afloat. However, there is no more savings, and some of the credit card interest rates have risen. The minimum payments became no longer affordable.
But because they qualified with a bona fide hardship, and they were responsible enough to want to work themselves out of debt by setting aside some savings each month to eventually start negotiating with the creditors, they now are on track to pay off their debts in 40 months or sooner.
Original debt: $41,000; Negotiated Debt: $19,000; Time to pay off: 40 months
Story #3: There are some great debt relief Florida programs in place to help people suffering from overwhelming debt burdens. This family is a prime example of what is happening across the country because of the slow real estate market and general recession at this time (Fall of 2008). As congress struggles to bail out the banks and get credit liquidity back in place, ordinary citizens are suffering by loss of jobs and loss of business. This family has a business which services the Realtors and builders, but because this industry is suffering, it has the trickle down effect negatively impacting many other small businesses. Because of loss of income, they were late on some credit card payments which raised all their credit cards to an unmanageable level. Making the minimum payments and paying the mortgage along with other basic living expenses has become impossible. With the help of Fresh Start Debt Negotiation’s attorney-assisted negotiation, this family is now on track to pay off their nearly $100,000 debt in 50 months. After contacting Fresh Start Debt Negotiation and consulting with the FSDN attorney, the client will have a new affordable monthly savings payment and will be reducing their debt amount by about 58%. They will now have a better chance to keep their home and not go into foreclosure.