Within a few years of moving to the U.S. from Nicaragua, Juan had no savings and a credit score of 430, in part because he had limited knowledge of how credit scores worked. Debt collectors were calling him daily. He was under even more stress from helping his mother pay for chemotherapy treatments and frequently traveling to take care of her.
He also wanted to propose to his girlfriend, but the idea of bringing a bad financial situation to the marriage was holding him back.
How Brightside helped:
• Juan’s Financial Assistant, Amy, taught him how credit scores work, in particular the importance of paying on time.
• We also uncovered $1,637 of mistaken identity in credit card debt and $829 of retired credit card debt that were impacting his credit score
• In just a few months, Juan increased his credit score by 140 points
• He also started a savings account for emergencies
Juan and his girlfriend were married less than six months later!
That’s the amount per person headed to most families under the stimulus phase out.
If you're one of the millions who missed some or all of the previous stimulus rounds, talk to Brightside today! Also, filing your taxes by May 17th is key. We can help those who qualify find free filing options.