There is a strange sense of cosmic irony in Ryan Lochte's deal with Debt.com. The company is focused on providing Americans with a second chance.
Lochte is an Olympic medalist who is famous for his athletic abilities; in fact, he was sponsored by several companies. Most of these companies dropped the athlete after his trouble with the law.
The olympian's issues started in Brazil when he and three teammates told authorities they were robbed at gun point. This happened in a gas station in Brazil. The robbery story made headlines, and people took it seriously, but the story turned out to be an exaggeration of the truth. The details are still under debate, but there appeared to be no robbery. What did occur was vandalism; it seems that Lochte and his lot were responsible for this criminal act.
It was obvious that this incident in Brazil hurt Lochte's image, but Debt.com saw a perfect opportunity. The company decided to give the Olympic medalist a second chance by giving him the opportunity to be a spokesperson for the company as this would highlight the entity's true purpose.
The details of the contract between the two have not been released, but it is likely that Lochte took a pay cut. This is understandable since he was not offered much after the infamous incident in Brazil.
Lochte's star power may surely put Debt.com in the limelight. This will allow the business to help as many people as possible, which is desperately needed. Statistics show that the average American now owes $3600 to $5700. It should be noted that this statistic includes those who are keeping up with their monthly payments.
The researchers found that the average debt amount changes for Americans who are having problems paying their debt. The amount jumps to a whopping $16,047. Those are incredible balances that many Americans are having trouble with.
Americans may be delinquent due to medical emergencies, car loans, or even student loans. In short, there could be a myriad of reasons why Americans are drowning in debt.
It is easy to say that those in this undesirable situation make bad financial decisions, but no one is immune to mistakes. Some problems can be rectified while others are a little harder to clean up.
Sadly, the financial mistakes that most Americans make are hard to deal with. Another research team found that the average American is not able to save up $500 for an emergency. This means that most people in the United States cannot take care of their debts, even if they wanted to.
Debt.com's deal with Lochte highlights the fact that people mess up, but it also shows that second chances exists. Having Lochte as the spokesperson tells people who are going through financial difficulties that there may be light at the end of a tunnel. These people deserve a second chance, just like the scorned olympian.
This company does not shy away from the fact that people who want to get out of debt will have to make some sacrifices. Their budgets may be cut considerably to help them eliminate debt, but the team behind Debt.com will be there to help on the journey to freedom.
For one, the team behind the company will help consolidate any debt owed to make it easier for people looking to start anew. Second chances exists with Debt.com, and Lochte seems to be the right person to present this opportunity to those who need it.