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    Case Studies

    Debt Consolidation Case Studies

    Debt Consolidation for Harpal Singh of San Diego

    Total Debt:

    $98,000

     

    Types of Debt:

    Credit Cards, Store Cards and Car loan.

     

    Situation:

    Working in a Multi-National in San Diego meant that for Harpal Singh money was not a real issue as he lived on the finer side of life. With 2 gold master cards with limits ranging from $15,000 to $30,000 life could not have been merrier for his and with a good income repayment was not a real issue. Getting an auto mobile loan of $50,000 was no big deal and on top of that add 2 store cards whose limit was $4,000.

     

    Like it happens in any large institutions the company was facing a financial crisis and the retrenchment that followed did not spare Harpal Singh and after about 8 weeks he was completely dry. The only available alternative was to live on his credit cards and he also used the same to settle his recurrent bills. With his qualifications he was soon hired but unfortunately the pay was slightly lower. All his cards hit the limit and with a lower wage keeping up the pace of repayment was simply impossible. After failing to meet his remittances his car was reclaimed and to add insult to injury he remained with a $45,000 deficit. Debt collectors were at his doorstep demanding payment with his phone abuzz daily with demands for repayments.

     

    Solution:

    While surfing the internet in desperation for a solution Harpal Singh discovered Ooraa and after signing a contact form he was soon in contact with financial services counselor from Ooraa.

     

    The financial services counselor from Ooraa thoroughly scrutinized Harpal Singh’s case seriously investigating his income budget to put a figuer on how he was going to manage his whopping $98,000. Expert team of Ooraa came up with solution which helped him to set up the payment options with his budget and gave him path to debt free life.

     

     

    Debt Consolidation for Husmukh Mehta of Boston

    Total Debt:

    $118,000

     

    Types of Debt:

    Credit cards, store cards, phone bills, car loans and mortgage.

     

    Situation:

    For a bright single man with a splendid income like Husmukh Mehta taking a $250,000 was not such a big deal. But fate had that his partner of two and a half years was in the black books of credit management and being a gentleman he absorbed all those credit card, store card, mobile phone as well as personal loan debts. Even after managing a debt consolidation this good man defaulted when he lost his job momentarily.

     

    Add to Husmukh Mehta’s credit challenges two car loans totaling $40,000, a store card with a $3,000 limit as well as three credit cards with limits of $10,000, $5,000 and $7,000. And since misfortunes come in multiples their relationship turned sour and his partner moved out with a promise to service her part of the car she was driving. The lady once again defaulted and the car was repossessed leaving Husmukh Mehta with a $20,000 in hole which needed immediate servicing. Since the burden was too heavy for Husmukh Mehta who had to do with a single pay packet collection agents were now on his heels. Husmukh Mehta automatically fell back on his mortgage repayment and the bank repossessed it leaving him with a further $73,000 to clear.

     

    Solution:

    There is only so much that Debt Consolidation can take care of, but this has to be done well before things go haywire and this meant that Husmukh Mehta had to think outside the box. After some soul searching Husmukh Mehta realized that the only way for him to navigate from the financial quagmire he found himself in was to apply for insolvency. Accepting such an awkward situation like bankruptcy was not anything Husmukh Mehta would take in and in searching the internet Husmukh Mehta happened on Ooraa. A single visit with a very responsive financial advisor from Ooraa helped Husmukh Mehta disentangle himself from the deadly financial share he had put himself into.

     

     

    Debt Consolidation for Ashok Kumar of Boston

    Total Debt:

    $87,000

     

    Types of Debt:

    Store cards, credit cards, telephone bill.

     

    Situation:

    Ashok Kumar found himself between the rock and the deep sea when a multiple cars crash involving his un-insured car was blamed on his fault. Even though the car was a write off the ban still demanded $18,000 immediately. Since he was liable the insurers of the other two cars demanded $30,000 and $27,000 and in a flash he found himself owing a whopping $75,000. Since Ashok Kumar operated from his parents’ home he only needed $50 weekly board. Trouble was brewing for his thanks to the $75,000 debts associated with the car crash and a store card and credit card with limits of $4,000 and $6,000 respectively not forgetting his mobile phone for which he a contract figure of $2,000. Looking for solace from her bank regarding Top up loan for the accident debt proved to be an exercise in futility. He organized an amicable way to settle the card debts but the phone company sent collecting agents to demand their dues. The only way forward for Ashok Kumar looked like a declaration of insolvency was the only way out for her.

     

    Solution:

    Due to the fact that Ashok Kumar’s income was meager debt consolidation was not an option for him. Ashok Kumar decided to get in touch with Ooraa for financial advice. Everybody told him he has no other choice than to  file for bankruptcy but Ooraa offered him assistance in a case that help him get out of his financial  fall back to financial freedom.

    Debt Consolidation for Arvind Patel of Boston

    Total Debt:

    $29,000

     

    Types of Debt:

    Credit cards, Store cards and phone bills.

     

    Situation:

    When she decided to initiate contact with Ooraa after his ban denied him a debt consolidation loan by his local bank, Arvind (real name withheld) was in dire straits. After being jobless for so long he defaulted his payments for credit card and phone bills which amounted to $336 weekly collected by different agencies. If that was unmanageable what would you say about the $456 weekly bill for a car and computer loan that was just beyond Arvind’s reach? He realized that he was going to sink into obscurity if he did not merge his entire debt burden of unsecured loans.

     

    Solution:

    A sociable and highly proficient financial counselor from Ooraa majoring in debt consolidation had a round table meeting with Arvind and together they dissected his entire debt profile.

     

    With advice and help from Ooraa Arvind finally amalgamated all his unsecured debts to a weekly payment of a paltry $135 down from the $336 he had to part with weekly.

     

     

     

    Debt Consolidation for Jill and Henry of New York

    Total Debt:

    $43,000

     

    Types of Debt:

    Credit Cards and Store Cards.

     

    Situation:

    While Jill and Henry were both working servicing the weekly mortgage and car loan payments totaling $643 it was a walk in the park until Henry lost his job. They tried in vain to get a debt consolidation loan from their bank.

     

    After defaulting payments for close to 3 months collection agencies were at their doorstep demanding their dues. This is when the couple decided to visit with Ooraa to try and attempt to amalgamate their entire debt burden amounting to $43,000 with a schedule of $554 weekly to numerous collection agents. Without a consistent income the resultant escalating debt was actually putting a strain on their relationship.

     

    Solution:

    At Ooraa Jill and Henry thrashed their issues with a responsive consultant who gave them a listening ear and his expertise they were able to scale down their entire debt profile into a single weekly $280 payment marking a reduction of an entire $274.

     

    Debt Consolidation for Ken of San Diego

    Total Debt:

    $16,700

     

    Types of Debt:

    Three Credit cards.

     

    Situation:

    Things had not been easy in the construction industry especially for Ken (true identity withheld) who worked as a subcontractor. The changes in weather patterns meant that he had to contend with 2 or 3 days pay during some weeks thanks to the unpredictable rains. What all this meant was that he was unable to balance his credit books on time and in a little while he was up to $16,700 in debt and three collection agencies demanded up to $198 weekly.

     

    Ken realized that the only way he was going to make ends meet was by amalgamating all his debts into a manageable weekly amount.

     

    Solution:

    Ken is glad he visited Ooraa and working with one of the proficient debt consolidation experts they combed his situation with a fine toothcomb. His entire debt profile was merged and the resultant weekly bill reduced from $198to a paltry $72 weekly.

     

    Debt Consolidation for Ian and Karen of Seattle

    Total Debt:

    $32,650

     

    Types of Debt:

    Personal loans, Credit cards, Store cards.

     

    Situation:

    Meet Ian and Karen (true identities withheld), your ordinary couple with 3 personal loans, 4 credit cards and 4 store cards with a debt profile totaling some $32,600. Things looked like they were going on as expected until Karen became redundant and they had to do with one income. When they asked their creditor for debt consolidation loan and were declined then all hell broke loose especially with the cancellation of their credit card and store cards. Working on their own they made local arrangements with some collection agencies with an agreement to remit $447 weekly but even with that they were still not able to make ends meet.

     

    As if things were not bad enough a Magistrate convicted them about one of their cards and just managing the onslaught of piling pressure until they decided to seek for debt merging assistance from Debt Control

     

    Solution:

    It took the expertise of one of our ever gracious debt consolidation professionals to help them unravel their financial quagmire giving them erstwhile unknown alternatives. With a reduction of the scheduled repayments to $173 they saved themselves a whole $274 in weekly payments.

     

    Debt Consolidation for Alison of Las Vegas

    Total Debt:

    $22,400

     

    Types of Debt:

    Personal loans, credit cards and store card.

     

    Situation:

    What do you tell a lady who has been in what looks like a stable relationship of four years and out of her good will decides to have all their credit cards and personal loans in her name, only for the erstwhile loving partner to melt into oblivion leaving her with egg all over her face? Such was what Alison (True identity withheld) had to deal with because of trusting partner she loved who apparently could not get any credit due to a poor credit rating. A visit to her bank for a debt consolidation loan drew a blank and she wondered what else was left for her to do in order to pull herself from this quagmire.

     

    Alison’s debt profile consisted of a pair of personal loans amounting to $8,300 as well as a pair of Visa cards with a whopping $11,300 which was, well, you guessed right, over and above their limit. There was also a store card demanding $2,800 and the collection agencies slapped her with a bill of $276 weekly.

     

    Solution:

    When everything else failed Alison decided that the best solution would be to amalgamate all her debts and her choice for a solution was Debt Control. With the expertise of Ooraa she was able to get an amicable $121 weekly bill making a saving of $155 every week.

     

    Debt Consolidation for Linda of Fresno

    Total Debt:

    $21,000

     

    Types of Debt:

    Personal loans, car loan, credit cards.

     

    Situation:

    For all her hard work as a full time casual employee Linda (true identity withheld) found out that she could not just make ends meet thanks to the ever shrinking number of working hours every week. When she discovered that she was not meeting her monthly financial obligations with her cards flying beyond the limits, she decided to ask her bank for help with debt consolidation and as it were no help was forthcoming so she decided to come to Debt Control.

     

    When things were working normally Linda had placed a standing order regarding her personal and car loans and this meant that when they were effected there was no more money left to cater for her four credit cards which had hit their limits and were running over. When she defaulted remitting her card payments for 4 months they got passed along to collection agencies.

     

    Solution:

    Linda realized that if professional help was not sought in good time things would go from bad to worse. She approached Ooraa where sociable highly qualified staffers managed to help her merge the entire debt load into a manageable $100 monthly repayment schedule.

     

    Debt Consolidation for Abbey of Oakland

    Total Debt:

    $16,200

     

    Types of Debt:

    Credit cards, store cards, cash loans and utilities.

     

    Situation:

    With the ups and downs of an unpredictable self employment Abbey (not real name) discovered was finding it difficult to stay up to date with her weekly repayment schedule. She knew without any doubt that her only way out was to consolidate her debts but when she approached her bank she was met with a brick wall.

     

    Solution:

    With no other way out of her pitiable situation Abbey braved herself to approach Ooraa and she was impressed by reception she received from the sociable financial services professionals who managed to help her consolidate her debts to reduce her weekly schedule to only $78.

     

    Debt Consolidation Michael from the Columbus

    Total Debt:

    $10,900

     

    Types of Debt:

    Credit cards, cash loan and store card.

     

    Situation:

    Nothing jolts a man like when you find yourself behind with your credit card repayments. After living with friends, Michael discovered tension was building up he decided it was time to call it quits. After his friends moved out and having to cater for the rent for the remaining 5 months it took toll on him financially and he began falling behind schedule in his credit card payments. Approaching his bank for a workable solution was met with a reject and so he had to think outside the box.

     

    Solution:

    Michael got a solution as soon as he initiated contact with Ooraa where one of the affable staff members at Ooraa helped him put a finger on his challenge and together they worked out a consolidated approach to all his debts leading to a weekly payment of a paltry $70.

     

    Debt Consolidation for Gary of San Jose

    Total Debt:

    $32,400

     

    Types of Debt:

    Credit cards, store card, utilities bills, car repossession.

     

    Situation:

    The breakdown of a marriage that has people who were trying to merge their financial lives can be quite distressing. Such was the case of Gary (true name withheld); whose wife left him with a mortgage burden of a whopping $138,000. They had taken on that size of mortgage with the strength of two incomes buy now he had to work it out alone. He came back disappointed after his creditor denied him a debt consolidation loan. The straw that broke the camel’s back was when his car was repossessed living him with a galling hole worth $17,000 owed to his financiers. In a little while he was 3 months behind with his credit cards which had overshot their limits and collection agencies were on his case.

     

    Solution:

    A quick move to contact Ooraa greatly saved him the agony of dealing with the resultant stress because they were able to help him amalgamate his debts into one. Ooraa assigned one of their consultants to assist him and in a little while he found himself dealing with only $156 weekly.

     

    Debt Consolidation for Sam of Atlanta

    Total Debt:

    $18,700

     

    Types of Debt:

    Credit cards and Store cards.

     

    Situation:

    Being someone who could not just let an opportunity pass him by, Sam (not his real name) grabbed one that appeared across the states in NSW which forced him to leave home, where he used to operate from. Unfortunately things did not work out as expected and he found himself with a lease and rent bill to settle without a source of income. He tried as much as he could to survive on credit hoping for something else to come by but nothing was forthcoming. His only way out seemed to be a debt consolidation debt but his ban declined his request.

     

    Solution:

    Matters became worse when collection agencies were unleashed on him to claim a full settlement after the cancellation of his credit cards. Add a court case into the works due to un-cleared debts and you have a recipe for disaster.

     

    An official chat with a proficient Ooraa consultant helped Sam work out an amalgamated approach which brought his weekly repayment schedule to a meager $120 and he had a reason to smile again.


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