Dimitri saved $45,317 — and kept his family business alive.
Total saved
$45,317
on a $75,529 balance
Monthly payment
$3,745→$1,549
saving $2,200/month
Resolved in
~15 mo.
from enrollment to settlement
Dimitri knows a challenge when he sees one. Having witnessed firsthand government excesses and the lack of freedom under the communist government of his home country Hungary, he decided to risk it all and leave. Sleeping during the day and under the cover of night he made his way toward Vienna, Austria.
After about a week, he finally made it to the border and had slipped through the crossing without being detected. Shortly thereafter he made it to Vienna. While there, he was arrested for improper documentation and for illegal entry. However, since he was a political dissident and was facing a big prison sentence in his homeland, all charges were dropped and shortly thereafter he was granted permission to move to the United States.
Furniture making was in his blood and moving forward a couple decades Dimitri had established himself as an owner of a small custom furniture factory. He grew the business up to ten employees at its apex, and life was great.
However in the mid-1990s he witnessed a slight change in the furniture industry. Less people were willing to pay the larger prices for handmade quality furniture and many were opting for cheaper imports, a lot of which was made in China. The change was incremental though, not overnight. Each year there was a reduction in business, but the reduction was about 3-5%. Every two or three years to keep his company going he had to lay off an employee. 10 employees became 5 and after a while longer Dimitri found himself making the furniture again with help from his wife and son. Furthermore Covid-19 just about doubled the cost of materials.
The three of them working together was the business protocol until about 2018 health problems set in. It’s difficult to make furniture at any age, never mind in your seventh decade of life. Both knees had to be replaced and he was out of work for three months. During that time the business was gaining almost no new sales. He was also diagnosed with a cardiac condition called auricular fibrillation. The results are shortness of breath, being tired and reduced furniture production.
After about a week, he finally made it to the border and had slipped through the crossing without being detected. Shortly thereafter he made it to Vienna. While there, he was arrested for improper documentation and for illegal entry. However, since he was a political dissident and was facing a big prison sentence in his homeland, all charges were dropped and shortly thereafter he was granted permission to move to the United States.
Furniture making was in his blood and moving forward a couple decades Dimitri had established himself as an owner of a small custom furniture factory. He grew the business up to ten employees at its apex, and life was great.
However in the mid-1990s he witnessed a slight change in the furniture industry. Less people were willing to pay the larger prices for handmade quality furniture and many were opting for cheaper imports, a lot of which was made in China. The change was incremental though, not overnight. Each year there was a reduction in business, but the reduction was about 3-5%. Every two or three years to keep his company going he had to lay off an employee. 10 employees became 5 and after a while longer Dimitri found himself making the furniture again with help from his wife and son. Furthermore Covid-19 just about doubled the cost of materials.
The three of them working together was the business protocol until about 2018 health problems set in. It’s difficult to make furniture at any age, never mind in your seventh decade of life. Both knees had to be replaced and he was out of work for three months. During that time the business was gaining almost no new sales. He was also diagnosed with a cardiac condition called auricular fibrillation. The results are shortness of breath, being tired and reduced furniture production.
"He couldn't afford paying $3,745 a month toward his credit card debt anymore. That amount was bottlenecking his business — and he was considering closing the doors forever."
Economic and health factors beyond Dimitri's control led him to call TFF. With their help, a program was developed that brought his monthly payment down to a more manageable $1,549 — saving him $2,200 per month in cash flow. After approximately 15 months, TFF negotiated his Citibank balance from $75,529.91 down to $30,212.00.
After hearing the results, Dimitri shared that because of the cash flow savings and help with cost-cutting measures, his business is still alive today — and stronger than it was before he sought help.
After hearing the results, Dimitri shared that because of the cash flow savings and help with cost-cutting measures, his business is still alive today — and stronger than it was before he sought help.
Settlement Letter
