Financial Stability = Housing Opportunity

Ely assists a resident of Susan's Place with her finances.

    Living  in a homeless shelter is never anyone’s first choice. But if there is some good to come out of the experience, it could be the services offered that strengthen a resident’s knowledge and skills, preparing them for living independently once again. Financial setbacks and a lack of basic understanding about budgeting and saving, frequently play a role on the path into homelessness so it makes sense that achieving financial security is an important tool on the path out of homelessness. Here is the story of two residents of Susan’s Place are on that exciting path. 
On February 8, Ely Nunez a financial counselor at Ariva, visited Susan’s Place and held one-on-one financial counseling sessions with the residents. She works with the women so that they may reach their ultimate goal of moving out of the shelter. Ely says that some of her clients have applied for housing but were rejected by multiple housing entities because of their credit score. When Ely works with them, the first step she takes is checking a client’s credit. If a client’s credit is bad, she helps them send dispute letters, setup payment plans, and more, to improve it. Ely says so far, she has helped three residents improve their credit score, which lead to housing applications getting approved.

Working at Susan’s Place is her first experience with people who are homeless. “It was a little bit complicated,” Ely said. “I did not understand the women there or how the shelter system worked,” she continued. Ely was unaware that many individuals who are experiencing homelessness also suffer from mental illness. After doing her first workshop at Susan’s Place and realizing that many of her clients are mentally frail, Ariva sent Ely to a mental health training. At the training, she learned about techniques that will help clients de-stress during their financial counseling sessions. Taking control of their finances can be a very intimidating experience for homeless individuals.

Ely works with the women of Susan’s Place so that they may reach their ultimate goal of moving out of the shelter. Ely says that some of her clients have applied for housing, but were rejected by the New York City because of their credit score. When Ely works with them the first step she takes is checking a client’s credit. If a client’s credit is bad, she helps them send dispute letters, setup payment plans, and more, to improve it. Ely says so far, she has helped three residents improve their credit score, which lead to housing applications getting approved.

Bernadette (pictured right) looks over her credit report with Ely (pictured left).

Bernadette is one resident who recently received assistance from Ely. “I wanted to learn how to raise my credit score,” said Bernadette. Last week was her first financial counseling session. She said that Ely was very helpful at teaching her the basics on how to increase your credit score by knowing what creditors watch for when looking at someone’s credit. After her session with Ely, Bernadette said her first step would be to pay off her outstanding balances. “Right now the only thing hurting my credit is the money I owe my bank and my phone carrier,” she said. Bernadette said once those are paid off she can take further steps to increase her credit score, such as opening a new bank account and a secure credit card. And, she hopes, find stable housing.

Sylvia prepares her documents to be reviewed by Ely.

Sylvia is another resident of Susan’s Place who is very happy with the help she received from Ely. “I am a victim of identity theft, there were a lot of things that were in my name – a house in Florida, an apartment upstate, and phone bills. I had to clear my name,” Sylvia said. Ely helped Sylvia clear all the discrepancies with her credit, and with opening a bank account. “Now my credit is beautiful,” Sylvia said. And we are thrilled that Sylvia recently ended her homelessness after reconnecting with her son and moving in with him. Now that she has stabilized her credit, Sylvia hopes to save enough money so that she can buy her own home one day. 

We thank Ariva for providing their vital free services to the residents of Susan’s Place. We CAN end homelessness in years, not decades, and one life at a time, when we work together with great partners like Ariva and YOU!   To learn more about Ariva, click here.