JACKSONVILLE, Fla. — Doreen Miano, a Jacksonville resident, has overcome financial distress after a sudden medical retirement left her overwhelmed by debt.
With the help of American Consumer Credit Counseling and VyStar Credit Union, she has managed to consolidate her debts and regain financial stability.
Doreen Miano faced unexpected financial challenges after retiring early for medical reasons, leading to a snowballing debt situation.
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She sought assistance from American Consumer Credit Counseling, a nonprofit organization that negotiates with creditors to lower interest rates and create manageable repayment plans.
VyStar partnered with the nonprofit to consolidate Miano’s debts into a single loan, simplifying her financial obligations.
“I had to retire early for medical reasons. You have bills and moving expenses and things you didn’t plan for,” Miano explained, describing how her financial troubles began. “They negotiated with each lender… some down to 0%. That was huge. Thousands saved in the long run,” Miano said about the assistance she received.
“I enjoy my retirement much better now because my obligations are met… they take the payment right from my check, and I don’t worry about it anymore,” Miano shared.
Miano’s story is part of a larger trend of financial distress in Jacksonville, which WalletHub has ranked as the worst city in the nation for financial distress.
Sixteen percent of residents are behind on bills or loans, a figure that has increased by 87% since last year.
VyStar has expanded its outreach in the community to address this growing need, offering real solutions to financial challenges.
The credit union hosts monthly workshops at Deb’s store on the Eastside of Jacksonville, providing education on finance and budgeting.
Jonathan Hanson from VyStar highlighted the unique nature of the facility at Deb’s store, where people can access tools and resources to achieve their financial goals.
Miano, a VyStar member for over ten years, praised the credit union’s online tools and live customer support for helping her stay on track with her finances.
“They helped me see how to pay off the loan and budget better. I’d go online, then call the loan department. They walked me through everything,” she said.
Now, Miano uses her experience to encourage others facing similar situations to seek help.
“Talk to your bank. Ask questions. There is help out there. Don’t be afraid or ashamed to ask. You can get through it. I did,” Miano advised.
Jonathan Hanson emphasized the importance of providing access to trusted experts and tools to make a real difference for people like Miano.
For Doreen Miano, the burden of debt has been lifted, and it all began with reaching out for help.
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