written by: Lisa Karel
Operation HOPE is often the first place people experiencing a financial emergency will turn to for help. As a result, it’s not uncommon for Operation HOPE coaches to encounter individuals who have suddenly found themselves in a dire and desperate position they never imagined they’d be in. That was the case for Tampa-based Operation HOPE financial coach Esther Fife when she first started working with Nicole.
At the time, Nicole had recently separated from her fiancé, who had been primarily responsible for managing the family’s finances. The split revealed that those finances were not nearly as healthy as Nicole had been led to believe. In fact, after the separation, Nicole discovered that she only had $200 to her name and her credit score had sunk to a dismal 520.
“I’d made a mistake by taking a hands-off approach and leaving it to my fiancé to manage our money,” said Nicole. “Despite a college education and a previous job in the financial industry, my financial knowledge was lacking. For example, I was never taught that credit scores could make or break your financial goals.”
Nicole’s immediate need was to qualify for a mortgage so that she and her two small children would have a place to call home. Operation HOPE’s first-time homeownership and credit counseling programs gave Nicole the information she needed to take steps toward her goal, and she credits Esther, the convener of the programs, with bringing it “home” for her.
“Going through a separation and realizing my finances were in dire straits meant that my feelings were very raw when I first met Esther,” said Nicole. “I was struck by her compassion and her ability to set my mind at ease and reassure me that I could get through this.”
Esther took a systematic approach to helping Nicole repair her credit. Line by line, they looked through Nicole’s credit reports for inaccuracies and found one in a student loan that was itemized twice. Esther also urged Nicole to apply for a secured credit card that would help build her credit history, and to pay down her debts by their due date. Since Nicole started working with Esther in 2017, she now can boast a credit score that has been as high as 810.
“Now, having gone through this experience, I’m still shocked that the Operation HOPE programs and Esther’s guidance were at no cost to me,” said Nicole. “It was truly a lifeline at an incredibly difficult time and I hope other people know that Operation HOPE can be there for them also.”
“Starting off as a coach with HOPE in 2015, my experience working with Nicole and other clients in Tampa gave me the great opportunity to uplift and improve the quality of their lives. I am blessed to play just a small part in the success they have experienced due to the programs offered at HOPE,” said Esther, who now serves as a project leader for the organization.
As for Nicole’s ultimate financial goal, she’s now the proud owner of not just one, but two houses, and intends to keep adding to her real estate portfolio. She’s also a business owner, and contracts with moms, who, like her, are busy juggling family and professional priorities. Nicole values the idea that she’s playing a part in helping them build their financial future.
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