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Personal Financial Counseling

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Submitted By amandamorphew
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Assignment 4: Interview with a Creditor

For my interview I was unable to meet with someone face to face since I have a full time job and classes to tend to. I emailed a creditor by the name of Alex Orr at First Bank and Trust in Lubbock, Texas. He was very helpful when answering questions. Before I emailed Alex Orr my questions I decided to answer them in my head. After reading the answered questions I was very wrong about my creditor assumptions. My first question that Alex answered was about what drawled Alex to being a creditor. Alex said that his father worked at the bank for many years. He began working at First Bank and trust as a Teller and fell in love with the type of service the bank gave its customers. I could tell right off the bat that Alex was in this business to help serve his clients not just to make money. While interviewing Alex I learned a vary valuable lesson. Alex shared with me the top two mistakes he see’s customers or clients make when either applying for or taking on debt. The first mistake is that he see’s clients not preparing and sticking to a budget is the single biggest mistake he has seen people make. He stated, “There are a lot of people that do not even know what’s coming in and going out of their bank account each month… Budgeting is critical”. This was really important for me to hear because I already try to keep a budget but have not yet taken on any debt. Now, that I am about to graduate and take on student loans in 6 short months I will try my hardest to keep what Alex shared in the back of my head. I will try to take my budget more seriously since it is so critical when taking on debt. The second mistake that Alex shared he see’s with clients is lack of execution. Alex stated, “A lot of people come in with big dreams on how they think they can succeed.” He said he has seen this time and time again… He said people give up

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