Another big client win to report.
I’m working with a new attorney client who came to me with a little under $15,000 in credit card debt and just over six figures in student loans.
We executed a “balance transfer” for his full credit card balance, so he will pay 0% interest as he pays off the cards – this will save him $4,484 in interest payments alone!
Furthermore, opening this new line of credit also raised his credit score.
Next, we crunched his student loan numbers and determined his loans would be paid off before any balance would be forgiven under each of the income-driven plans.
Important note – if the end result is paying off the loans, the key is to do it at the lowest interest rate possible.
So, we refinanced his entire loan balance down to a much lower interest rate and he’ll save $18,801 in interest payments.
Bottom line – this client is going to save $23,285 simply by formulating a plan for his liabilities. Now it’s time to show him how to grow his assets more efficiently!