Business ProfileforFamily Budget Services, Inc.

Family Budget Services, Inc. (FBSI) is a 501 (c )(3) non profit credit counseling organization providing credit counseling and debt management services. Our program has helped individuals and families with unsecured credit card debt,making these voluntary programs. 

********************* enrolled in our program in December of 2020, due to financial hardship for reduction of income caused by Covid.  He was provided with an estimate quote for 3 creditors, **** of America, Discover and ***** Fargo; lowering monthly payments, interest rates and paying debt in a fraction of time. ************ agreed to start January 2021 for a term of 55 months with a monthly payment of $311 which includes a service fee of $30 to Family Budget Services **** A certified credit counselor was assigned to his file, assisting him with any questions or concerns plus working on his accounts making sure they are all set up in the program receiving benefits. Moreover, ************ receives FBSI quarterly statements by email and on the clients portal, showing payments made and disbursements for his records. 

2/22/2024 FBSI counselor received an email stating he called the 3 creditors and negotiated new terms with them to pay his debt faster. He requested to terminate the program and cancel future ach payment transactions. The counselor replied to his email confirming cancellation, aside from that all creditors will receive drop notices and all benefits will be discontinued. Once accounts are dropped, they will no longer be eligible for *************** Program due to creditors guidelines.

As of 2/23/2024, ************ has had a satisfactory payment history with a remaining repayment plan of 17 months, for the same monthly payment since he started of $311. His current balance is $4,072.21 which does not include future interest. Prior to this date he requested a call from a manager, the manager contacted him to try to explain payments but ************ did not agree with any explanation.

********************* started the program in January 2021, with 3 creditors and a total debt of $12,492.00 due to financial hardship for reduction of income. 
The original credit cards debt information is the following:
**** of America original debt $3999.61 $101 payment - Apr 21%
Discover                - original debt $5289.30   $98   payment -Apr 12.99%
***** Fargo          - original debt $3203.09   $246 payment -Apr 28.99%

He was provided with an estimate quote for these 3 accounts, lowering monthly payments to $311, and interest rates to an average of *****%, saving $134 a month.  ************ agreed to start January 2021 for a term of 55 months.
As of 2/22/2024, ************ has reduced his debt to $4,090.49, receiving full benefits of the program, and having a satisfactory payment history with a remaining repayment plan of 17 months.