Why Financial coaching ? Did you know...

- 78% of Americans (almost 8 out of 10) live paycheck to paycheck

- 64% can not afford a $1,000 emergency

- 53% of people living in homeless shelters and 40% of unsheltered people were employed with at least one source of income but 80% of people become homeless as a result of  healthcare bills & trauma, student loans, credit cards, or payday loans  

- 30% of Black households have some sort of challenging medical debt 

SOLUTION:  Book a financial coaching session now!

 - In August 2021, about 64 million people with a credit record (about 28 percent of Americans) had debt in collections on their credit report

- The average attrition rates in collection contact centers vary between 30 to 40% 

- There are 6,345 Debt Collection Agencies businesses in the US as of 2023  

- According to FDCPA, collectors can only call between 8am and 9pm and can not call you at work

- Collectors are not allowed to use bad language but often use trickery and lies

SOLUTION: Download to learn about debit versus credit cards

-  Medical expenses is the #1 reason for personal bankruptcies  

- Chapters 7 and 13 are the #1 & #2  frequent types of bankruptcy filings

- Bankruptcy filings can impact your current job and future career/revenue opportunities

- There are several unknown costs to bankkruptcy: Chapter 7 = $1,500 whereas Chapter 13 = $5,000 in filing fees

- When filing bankruptcy, you agree to joint money management whereas your debtor will decide about your money utilization for 3 to 5 years  

- $691.06 billion was the size of the #1 largest US bankruptcy filed (Lehman Brothers)  

- Items excluded from bankruptcy filings that will need to be paid after include: 

1. student loans 
2. debt owed to the IRS 
3. criminal restitution or loans 
4. DUI 
5. child alimony 
6. long-term debt like mortgages

- "The borrower becomes the SLAVE to the lender" Proverb 22:7

SOLUTION: Complete your financial snapshot and schedule your first complimentary consultation.

- 50% of people considering foreclosure need assistance from a specialized attorney as well as a financial coach to get through this complex process

- Foreclosures take about 4 to 6 months

- For loan modification, one must be 90 days delinquent, not have any bankruptcy filing, be able to provide 3 to 6 pay stubs as well as a budget with all listed monthly expenses

SOLUTION: Complete your financial snapshot and schedule your first complimentary consultation.

- With 43 million borrowers in America, student loans average $37K of debt per student and a total exceeding $1.4 Trillion US debt

- About 92% of all outstanding student loans is federal debt 

- 11.2% of student loan borrowers  are delinquent in their loans and need a financial coach immediately to get out of this debt prison and avoid bankruptcy

- 45% of people without a degree default their student debt whereas 44.3% with undergrad certificate,  21.9%  with an associate degree and 7.9% with bachelor's degree or higher  

- Only 1.4% of students qualify for US student debt forgiveness programs and must provide evidence of full-time work from a "qualified" employer

- 67% of Americans have no estate plan

- 60% die without legal documentation and  73% of Americans are likely to die with $4,531 unpaid credit card debt. Around 36% of people died with mortgage debt, 25% of people died with an unpaid auto loan balance of around $17,111. Personal loan debt totaled $14,793, and 12 percent of people had outstanding personal loans 

- Only 20% of Americans have an estate plan by the time they're 65 

- Retirement is no longer an age but, given the current global economic situation, it has become a financial number

- The top 2 fears related to retirement are: 1) the fear of running out of money 2) the fear of becoming a financial burden to family and friends

-  At 60 years years old, one must acquire long-term care insurance as waiting a few years can be prohibitively too costly as it can double, triple to quadruple in costs 

-  With 78 million Americans turning over 65 by 2035 (versus 56 million today), most women having smaller retirement savings overall (an average $57,000) and 33% of women having no retirement plan therefore facing homelessness and/or continuous working requirements beyond 75 years old

- Although 77% of American workers are saving for retirement through employer-sponsored retirement plans, only 20% (1 out of every 5) is prepared for retirement with $65,000 in savings. 10% have assets at $1,000,000 and above.  As SSN pays $1,600/month, older adults (e.g. 65 and above) represent the #1 fastest growing group of homeless