Phoenix, AZ (PRWEB) November 18, 2009
When Scott Lamar decided to remodel his home to accommodate his expanding family members, he had no notion increasing the square footage would bring him close to monetary ruin. Lamar, 57, remarried a handful of years ago, and he and his wife have two energetic little girls, aged 4 and two. We needed far more space, he stated. Adding onto my house seemed like a very good idea. With the aid of buddies with building expertise, he did a lot of the operate himself. Its the story of many American families, a story we anticipate to end happily.

In Scott Lamars case, it nearly ended in disaster. Im a quite steady guy, said Lamar. Ive worked for the identical business for forty years, and Ive always paid my bills on time. When he started function on the property, it appraised for $ 665,000 and his mortgage was for $ 350,000. Hed carried out business with the identical bank for most of his adult life, so Lamar anticipated that acquiring a loan to purchase supplies would be relatively straightforward. I was actually shocked when my banker turned me down, stated Lamar. I had no credit card debt, so he suggested I charge my expenses. Trusting the guidance of his banker, Lamar started work on his home. When he was finished, he had doubled the size of his residence. He had also charged $ 115,000 on six credit cards.

That was when the nightmare started. I was finished with the property, and I was prepared to pay off my bills, said Lamar. I believed I could refinance the property and spend off the credit card bills with the equity in my property. For the second time in the procedure, he was unpleasantly surprised: the mortgage company turned him down. What did he do? He kept paying his bills. Initially the rate wasnt also bad, he stated. But then the credit card businesses beginning raising their interest rates on Lamar–to 29.5% and even to 40%. I was paying $ 3,000 a month, he mentioned, and at the finish of the year I was additional behind than when I began. I was throwing very good cash following undesirable.

So Scott Lamar started to appear for support. Very first he attempted a mortgage modification. That process is still dragging on, he said, but by way of it I met Steve Arthur, and he advisable RAM Economic Services. I talked to them and decided to sign up for their Debt Options Program. That was in June. By the finish of November the debt he enrolled with RAM Economic Solutions had been eliminated.

The approach was extremely straightforward, mentioned Lamar. When I enrolled, the procedure was explained thoroughly. The forms are clear and straightforward to recognize, so there wasnt something mysterious about what was going to take place. In addition Scott Lamar found the folks at RAM Economic Solutions easy to perform with. Sierra Aires is extremely personable, but she tells you the truth, he mentioned. I constantly knew specifically where I stood. Of course, its no fun to be battling debt you know is not possible to repay, but the folks at RAM Financial Solutions smooth the way as much as they can. Holly has a great sense of humor, said Lamar. She and Sierra are able to take the edge off a challenging predicament.

Scott Lamar is very satisfied he located RAM Financial Solutions. I almost certainly saved half of my debt, he mentioned, but Im not ever going to borrow income once again. Its also easy to get into the position I got into. Im a conservative guy, but the economic program in this country is broken. I strongly recommend RAM Monetary Services to other people who are caught in circumstances they cant get out of alone.

Written by S.J. Bratcher

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