“Before I didn’t know how to manage my money and wasn’t in control of my finances; now I am in control…now I’m saving money.”
When Yennifer first came to the Clinic in May 2010, she was overwhelmed financially, unable to make ends meet. She had outstanding bad debt of $1,984, a credit score of 534, and no savings or a savings account. She longed to improve her credit, save for emergencies, buy a car, and, more importantly, move her mother to New York City from the Dominican Republic.
Since meeting with Financial Coach Ilan Folman-Cohen, Yennifer has been able to achieve many milestones; she started to track her expenses, designed a spending plan, and opened two savings accounts with no fees. Through her commitment to improve her financial well-being, Yennifer paid down her debt to $649 and raised her credit score 70 points. She recently started a new part-time job that has allowed her to start saving routinely. In fact, Yennifer has made substantial progress towards her goal of buying a car, consistently saving $200 a month.
As a result of her hardwork and dedication, Yennifer was also able to successfully reunite with her mother, having saved her hard-earned money to cover the relocation fees.
“Because of the Clinic, we get the opportunity to rebuild our lives and give back to society in a positive manner.”
Debria came to the Clinic seeking help with a student loan default. She had been trying to
enroll in school, but her financial aid had been frozen preventing her from being able to afford classes. After being released from prison, Debria had been trying to rebuild her life and become a contributing member of society. She was stuck and didn’t know how to address the problem.
Debria met with Financial Coach Ilan Folman-Cohen and, together, they attempted to resolve her issue by negotiating with debt collectors. Unfortunately, they were unable to make headway. Undaunted, Ilan consulted with Clinic Staff Attorney Jon Fox and, together, they discovered that Debria’s student loans could be consolidated into one direct loan, taking all her loans out of default.
After successfully consolidating her loans, Debria’s financial aid was unfrozen and she was finally able to enroll in classes, continuing her goal of rebuilding her life.