Home > Case Studies > Case 10

Case Study 10

Client name: 'RAL'
Total debt: $ 17678.3
Enrollment date: 08/15/2008
First payment date: 08/22/2008
Number of creditors: Three
Type of creditors: 2 credit cards and 1 account in collection
Client relationship associate: Dave Smith
Monthly payments: $200
Total amount paid to creditors: $9300
OVLG fees: $550
Date the client became debt free: 12/12/2008

Progress of her case:

RAL enrolled at OVLG in August 2008. By October Dave was already finalizing a settlement offer with her creditor Ladco Leasing. They proposed a settlement of 41%. On hearing this RAL was pleased as this was her largest debt & agreed to the offer. The debt was paid off in October. This was not the only account that was settled in October. Dave, being the successful negotiator that he is managed to settle her second account with creditor Capital One at 61%.
Her third creditor, again a Capital One account was quick to accept the settlement offer. They agreed to settle at 62% payable in two installments. RAL being pleased at the offer & the savings already shown with prior creditors accepted the offer. Again this happened in the month of October.
After completing the settlements, the creditor informed us that they would send the “Paid in Full Letters” directly to the customer. A month after the settlement, RAL called to inform us that she had not received those letters. After reassurance from the Manager, Mr. James Simpson, RAL felt secure that she would indeed receive the letters.
Dave spoke with the creditors and was able to get all the “Paid in Full Letters” for the client. On receiving the letters, RAL was pleased with Dave’s & OVLG’s efficiency at helping her become debt free in 4 months.