Pune Resident Finds Freedom from Mounting Debt (PDCS-002)
Client:
Situation:
Challenges:
High Debt Burden
Mr. Sharma's debt payments consumed a significant portion of his income, hindering his ability to save for emergencies or future goals.
Multiple Creditors
Juggling payments and negotiating with different credit card companies and the personal loan lender was a time-consuming and overwhelming task.
Impact on Lifestyle
The constant financial strain affected Mr. Sharma's mental health and his ability to provide for his family's needs.
Solution:
This plan included:
Debt Negotiation
CDEF Debt's skilled negotiators contacted Mr. Sharma's creditors and negotiated lower interest rates and reduced monthly payments on his credit cards and personal loan.
Debt Management Strategy
We worked with Mr. Sharma to create a realistic budget that allocated funds for essential expenses, debt repayments, and a small amount of savings.
Creditor Communication
CDEF Debt handled all communication with creditors, stopping harassing calls and letters, allowing Mr. Sharma to focus on rebuilding his finances.
Financial Planning
CDEF Debt provided Mr. Sharma with financial literacy resources and strategies to manage his finances effectively and avoid future debt problems.
Results:
He successfully negotiated a reduction in his monthly debt payments by over 30%, freeing up crucial funds for living expenses.
By stopping creditor harassment and regaining control of his finances, Mr. Sharma experienced reduced stress and improved mental health.
Mr. Sharma learned valuable financial management skills, allowing him to build a budget and start planning for a financially secure future.
Mr. Sharma’s Testimonial:
“I was overwhelmed by debt and felt like there was no way out. Thanks to CDEF Debt, I was able to negotiate a manageable repayment plan and finally get some breathing room. They took care of everything with my creditors, and for the first time in a long time, I feel optimistic about the future. I’m learning how to manage my finances better and avoid falling into debt again.”– Mr. Sharma
