Ramon is a single man whose sole source of income is SSI. He previously worked for 16 years in customer service and enjoyed his tenure.
Ramon learned about Solita’s House through word-of-mouth after experiencing a recent crisis, which he chose not to disclose, leading to a period of displacement. Ramon indicated he feels overwhelmed and uncertain about how to manage his financial situation given his income and ongoing expenses. He moved into a 55+ community in mid-March 2023 and is seeking assistance to ensure his rental housing stability, gain money management and budgeting skills, strengthen his credit history, and build savings.
Ramon’s credit scores were all over 620, and he has a stellar payment history on all open accounts. His primary challenge was a high debt-to-income (DTI) ratio due to a high car payment and nine open trade lines, all of which were at or over the credit limit. He was using credit cards monthly for cash advances and to pay household and other debts. His income could not support his ongoing household expenses and debt payments. Ramon applied for a Small Dollar Flex Loan but was denied due to his high DTI ratio.
The counselor and Ramon developed a strategic action plan to request debt payment deferments, reduce interest rates, and identify areas to lower household and debt expenses while increasing his disposable income.
Ramon understands that achieving rental housing stability and effective debt management will take time. However, he has remained consistent in meeting and often exceeding the action plans identified during counseling sessions.