Case Studies

These case studies will help you understand what services NECC provides and how we work with people.

Why Do We Have a Low Credit Score?

A married couple called New England Credit Consultants because they had never seen their credit report and did not understand what a high or low credit score meant.

They felt they had always paid their bills, but found out their credit score was low, and as a result, were paying higher interest rates and loan fees than customers with a higher credit rating. This couple had never been told how to build a high credit rating. They didn’t realize that occasionally paying a bill 30 days late negatively impacted their credit score. They didn’t realize that signing up for store credit cards just to get a discount also negatively affected their score. (They had always looked for ways to save money so when a company offered them a credit card with a lower interest rate they applied for it or transferred the balance from one credit card to the other.) This couple felt that since they had been able to save money, they were doing okay.

After a few counseling sessions with New England Credit Consultants, this couple had learned the importance of paying on time and how to set up automatic payments so they wouldn’t forget a bill or pay late. They had learned and were implementing ways to build a healthy credit score. Within a few months, they were in control of their finances, living on a budget, and saving for “rainy days.” They no longer apply for the latest discount or credit and are continuing to build their credit so that within 12 – 15 months, they will be able to refinance their home at a lower interest rate than the rate they’re currently paying.

I Have a Good Job, But I’m Always Broke.

An unmarried young man called New England Credit Consultants because he was about to be evicted from his apartment for non-payment of rent. He couldn’t buy a car because of his low credit score and never seemed to have enough money to pay his monthly bills.

After the initial consultation, it was clear that the client had a good job and should have been able to pay his bills on time. His issue was overspending. This client agreed to enter financial counseling as well as New England Credit Consultant’s credit repair program. After learning to control his spending and to live within a budget, this client’s financial position improved. He is now saving to buy his first home, has bought his new car, is current on his rental payments, has cleaned up all of the delinquent accounts on his credit report AND has over $10,000 in his savings account!

I’d Like a Fixed Rate Mortgage, But I Don’t Qualify Because of Medical Bill Collections and a Low Credit Score.

A gentleman called New England Credit Consultants because he wanted a 30-year fixed rate mortgage, but only qualified for a 1 or 3-year adjustable rate mortgage due to his low credit score.

After reviewing his credit history, Joanna Murphy realized that this client’s credit problems stemmed from medical bills that were not his responsibility to pay. (This client had been injured at work, and the medical bills had been covered under a workers’ compensation claim.) Joanna helped the client reach his goal by removing medical claims that were not his responsibility, settling several collection accounts, and reestablishing his credit so that the client qualified for and refinanced his home with a low 30-year fixed rate mortgage.

I’m Getting a Divorce. Can I Keep My House?

A middle-aged man who had just been informed that his wife wanted a divorce called New England Credit Consultants. He and his wife had been married for many years, and she had always controlled the checkbook.

This client faithfully went to work and had his check deposited into their checking account. Though he was accustomed to a “spending allowance,” he hadn’t paid attention to the household bills. This client wanted to know if he could keep his house.

Joanna Murphy counseled him to open his own checking account and to have his checks deposited there. She taught him to budget his money and after reviewing the household bills, helped him determine that he would indeed be able to stay in his house. Joanna helped this client take out a home equity loan to buy out his wife so that he would be the sole owner of the property.

Twelve months later, this client’s divorce is final. He’s still in his home, and he is in control of his finances. He’s moving on with his life and is confident in his abilities to manage his finances.

What Clients Say…

"In less than a year, I had eliminated my credit card debt and had all accounts back in good standing."
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"It won’t happen overnight, but the end result makes you feel much better about yourself."
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"My credit score is right back where I want it to be."
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"Our goal is to buy a house in a few months. Joanna helped us straighten out unpaid past medical bills and helped us establish new credit."
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"Joanna made it her personal mission to help me buy my business."
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"Not only was she able to settle the debt for about a quarter of what was outstanding, she did it in one week!"
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