Finding a Financial Partner

Jeremy was rebuilding his life as a returning citizen. He had been hired for a landscaping position, but he needed transportation to get to work. “When I got out and tried to do things, I realized I’m not rich and I need credit,” he said. “That’s when I realized I need to work on my credit. People don’t trust you if you don’t have it.”

He came to HOPE to build his credit score. Jeremy was approved for a Borrow and Save Loan, one of HOPE’s credit-building products, and through financial counseling, improved his score to above 600. Unfortunately, Jeremy fell into a predatory debt trap when he financed his used car through an out-of-state lender that charged him a 27% interest rate. He could not keep pace with the payments.

Again, he turned to HOPE, where financial navigators refinanced the vehicle, saving him more than $10,000 in interest costs. Jeremy says he has found a financial partner for life and is currently receiving home-buying counseling and other assistance from HOPE’s mortgage team.