Client Exclusive: How We Helped Veterans Mark and Dawne M. Recover From Debt
When a series of unexpected emergencies left Mark and Dawne M. overwhelmed by almost $40,000 of debt, working with Beyond Finance was a much-needed lifeline that allowed them to regain control over their retirement years.
Debt Amount: $39,828
Started: June 2023
Monthly Savings: $518 (⏷ 66%)*
Meet Mark and Dawne: Veterans Who Recovered From Nearly $40,000 in Debt
Mark and Dawne are disabled Air Force and Navy veterans from Oklahoma. He served in the Air Force and Air Force Reserve and she served in the Navy. After their military careers they reconnected and have now been married for 35 years. Together they raised four children and looked forward to a quiet retirement in their Oklahoma home until debt interrupted their plans.
How a Series of Setbacks Led to Debt
Several years ago, life threw Mark and Dawne a big series of unexpected and expensive challenges. It started when the water well went out at their home. Soon after power surges destroyed their AC unit and hot water tank. Finally, there was flood damage from a storm.
Because they were on a fixed income and didn’t have enough savings, they turned to high-interest loans and credit cards to pay for the back to back emergencies.
At one point, the financial setbacks left them without enough funds to cover their grocery bills. So they relied on food pantries to get by. For a couple who once found joy in leaving groceries on the porches of neighbors in need it was a difficult reality to accept.
“It was just one thing on top of another. It just got worse and worse and we didn’t have anywhere to turn.” – Mark
“We went from being able to supply other people with food…to needing the help ourselves and it was a very hard thing for us to do.” – Dawne
Out of Options Mark and Dawn Needed a New Solution
They tried budgeting and the snowball method to get ahead of the debt, but nothing seemed to work and making minimum payments felt like a dead end.
They shared with us that the stress was immense and began to affect their marriage. So, Mark decided it was time to do some research and find a new solution – a decision that led them to Beyond Finance.
“We tried to keep up with the payments, but it just got harder and harder. No matter how hard we tried to put money towards our bills. It seems like we were just paying interest.” -Mark
Monthly Payment Relief Helped Them Afford Essentials
Even though Mark had reservations about talking to a Consolidation Specialist he ultimately discovered that call calmed him down! And once they enrolled in the program, the monthly payment relief was immediate!
Before enrolling Mark and Dawne were paying around $785 a month toward their debts. Now they save over $500 a month giving them breathing room to cover basic living expenses without the constant worry.
“My consolidation specialist was understanding and compassionate about the debts that we had and that’s what helped us out a lot to trust them. I was happy that there was someone who could listen and not be judgmental.” – Mark
A Clear Path Forward
Without help paying off their debt would have taken them 27 years and cost over $100,000 in interest alone. Now they have a clear end in sight and a monthly budget they can afford.
“Our debt-free timeline is 48 months.” -Mark
“We can afford actual decent groceries, not processed food all the time.” -Dawne
What’s Next for Mark and Dawne
Now that Mark and Dawne have a manageable plan to address their debt they are excited to enjoy their retirement, and help others in their community. They are grateful for the help they received and want to pay it forward.
Most importantly they hope their journey inspires their grandchildren showing them that no matter the struggle you should never give up and it’s ok to ask for help.
Mark and Dawne M. are real clients compensated for sharing a real experience.
*Mark and Dawne saved 66% on her eligible monthly payments. Saving amounts are calculated based on self reported payments or tradeline minimums minus program payment.