>> Major funding for "Opportunity Knocks" is provided by the National Council for Financial Opportunities, a nonprofit dedicated to reducing poverty and creating economic mobility by breaking down systemic barriers, increasing equitable access to capital, and making opportunity accessible to all.

Its programmatic areas of focus include financial resiliency, financial accessibility, and income adequacy.

Additional funding provided by the Wells Fargo Foundation, which seeks to strengthen historically marginalized communities by investing in pathways to economic advancement and generational wealth.

Additional funding for "Opportunity Knocks" provided by Balance... and Callahan & Associates.

Previously on "Opportunity Knocks"... >> Our credit cards are maxed out.

We haven't paid mortgage in about three months.

>> And I'm really hoping to get my teeth fixed.

>> I have two kids.

I live paycheck to paycheck.

I currently don't have any health insurance.

>> It's costing you $33,000 a year just to carry this debt.

>> Wow.

>> We need to fix things so that we don't lose our house.

>> My car just got taken.

>> What do you mean it just got taken?

Repossessed?

>> The interest rate was like 600%-something.

>> What I'm seeing is it's almost 700%.

>> Every day, millions of Americans must make the choice between paying rent... >> We're behind on rent.

>> We got to pay the mortgage.

>> ...or buying groceries.

>> I live paycheck to paycheck, and sometimes that doesn't even cut it.

>> So we got spaghetti with no meat.

Are you serious?

>> "Opportunity Knocks" is back with our three esteemed coaches and six new underestimated families to create a personalized journey... >> Are you going to do what I ask you to do?

>> ...that everyone watching can benefit from.

>> I'm just hopeful that I won't always be struggling.

>> Through these families' experiences... >> This is an emergency.

>> ...you will see that a better life is possible with the tools that they are provided.

>> And we're going to turn your life around like you have no idea.

>> Are the obstacles that these families are facing too much... >> Your mom is sick, too?

>> A loan that I obtained online, interest rate is like 600%-something.

>> What I'm seeing is almost 700%.

>> You're looking at bankruptcy.

>> ...or will their coaches help them open the door when opportunity knocks?

♪♪ ♪♪ >> Hello, wonderful families and esteemed coaches.

I am Ronaldo Hardy, your financial justice expert and host of "Opportunity Knocks."

Welcome to the stunning hills of Los Angeles, California.

It's so nice to be standing here with all of you to conclude another season of "Opportunity Knocks."

I am sure the last few months have been quite an explorational journey for all of you.

We've set aside time to meet with everyone and hear more about each of your financial journeys.

Before we get started, I'm going to chitchat with all of the coaches to get all of the juicy details about your adventures, but don't you worry.

We're only talking finances.

[ Laughter ] Go enjoy this beautiful weather, soak in the sun, and maybe even relax a bit?

>> A little bit.

>> I'll see you all soon.

>> Bye.

>> Bye, guys.

♪♪ ♪♪ >> That was really fun getting a chance to meet everybody.

Yes.

>> We know what we've been doing with our families, but to actually get to watch everyone else's stories unfold is the real exciting piece of all of this.

So I can't wait to meet your families.

>> Right.

It's phenomenal.

>> Shall we go over to the couches and start meeting the families?

>> Let's do it.

>> So who's coming in first?

>> We have Donnell and Tanda from Washington D.C. >> Oh, that's my family.

And can I tell you guys how much I love them?

They have energy that is off the charts.

>> Hello.

>> Hey.

>> Nice to meet you.

>> Tell us about your journey.

How has it been?

>> From the beginning, we're basically living paycheck to paycheck.

We didn't think that we were in a lot of trouble, but after we looked at all of our finances, all of our debt, that's when we learned our real story.

And it's not the one that we see every month.

We were more going out of our account than coming in.

If we had continued the route that we were on, we would have had to probably file for bankruptcy.

>> Wow.

>> We were over $110,000 in credit-card debt.

>> And these guys make money.

But what was so frustrating was there was nothing to show for it at the end of the day.

>> I have a job and a business.

Tanda has been working, you know, for the school system for over 28 years, and to have all of that debt was madness.

And then to realize how much money we were spending in interest... >> How about the credit-card debt?

Where are we on that?

I know we've made big strides.

>> Credit-card debt is at zero.

>> Now, how did you do that?

>> How'd we do that?

>> What we did is we got a lower interest loan because we were paying up to 29% on some of those credit cards.

We were paying over $3,500 a month minimum payment.

It's saving us over $2,000 a month.

>> Wow.

>> Wow!

>> We're making steps toward paying it down.

>> That's amazing.

>> I put Tanda in my finance class.

Has that helped?

Just the being conscious about where your money's going?

>> The answer is yes.

Before, I did not want to look at my credit score.

I did not want to look at the bank account.

>> But now that you've taken a look at your credit score, what's going on?

>> Oh, I love my credit score now.

I look at it every day.

[ Laughter ] I have the company sending me notifications on my credit score when it goes up, and it has gone up over 164.

>> Wow.

>> I've joined the 800 club.

>> Whoa!

>> Yes.

>> The resources that we receive from the Financial Empowerment Center really helped us get organized in the beginning.

They provided us with a way to pay off our bills faster, and they provided us with a spreadsheet so that we can put all our finances in and figure out what was left.

>> Do you think that you'll be able to stay on this path?

>> Oh, definitely.

Our money is actually working for us now.

>> Well, we thank you so much for sharing your journey with us.

Your story, I believe, is so inspiring and we're so excited to see your progress.

>> Yeah.

Thank you guys so much for sharing.

This was so good.

I'm so -- feel so like... >> This was such a pleasure for me.

>> Thank you.

>> Yeah, it was an honor.

>> Thank you, guys.

>> Thank you.

>> Good job.

>> Thank you.

>> Good job.

>> I feel good.

>> Yeah, you should.

>> Thank you.

>> Alright, Ro, who's next?

>> We have Omar and Lynette from Seattle, Washington.

>> That's my family.

And when I first met them, right away we connected.

We had a really great energy together.

>> Hello.

How's it going?

>> Hey there.

>> Hey, I'm Jean.

>> Hi.

Omar.

>> Hey.

>> It's so good to see you all.

Tell us, how is it working with Louis?

>> It was amazing working with Louis.

>> You can tell him the truth.

[ Laughter ] >> I was gonna say that.

I was gonna say tell the truth.

It's okay.

>> We individually had our own, you know, problems financially.

But this was the actual time we actually sat down and talked with a coach for a plan.

>> What was wrong?

>> Uh... >> What wasn't wrong?

[ Laughter ] >> The main problem was payday loans.

Take out one to pay the other one.

>> Oh, wow.

>> Yeah.

Really got... >> How long had you been in the payday-loan cycle?

>> Probably about two years.

But before we met each other, I was in and out of them for like 15 years.

>> So what were the interest rates on these payday loans?

>> The two payday loans we had were 699% apiece.

>> Wow.

>> Oh, my gosh.

And how large were they?

>> One of them was for $4,000.

And then the other one was... >> $1,000.

>> Yeah.

>> Yeah.

>> You're not even treading water.

You're going deeper and deeper into the hole.

>> Yeah.

>> Yeah.

Weren't making any headway.

>> What drove you to this point?

>> I think it was low wages, to be honest.

Bills late and credit scores not good.

>> We basically paid whoever showed up first and who was the furthest behind.

>> Louis, how did you help them turn this around?

>> Well, the interesting part has been that we forget that while they were going through this crisis at home by themselves on The Opportunity Finder, they're finding that all the help they needed was literally a stone's throw away.

>> Yeah.

>> Everything is in their community and their neighborhood.

It's there.

The problem is that they just didn't know where to look.

>> What happens next?

>> We find a credit union, BECU.

We sit down with this finance manager.

He is able to get us a loan, consolidating our six biggest debts to like a $14,000-some-odd loan with just a $333 payment a month at a low interest rate.

>> What were you paying before?

>> We were paying upwards almost $2,000 and some change.

>> Wow.

>> Yes.

>> That is a big difference.

And did that include the payday loans?

>> That included those, yeah.

>> Were wrapped into that consolidation?

>> He wrapped it into the consolidation loans, yes.

>> Amazing.

>> When we started this journey, we didn't see a house in nowhere near future until we got or learned how to get all this debt under control.

>> Is there any other debt?

>> Oh, there's some old debt that I had on my credit report, and Omar did as well.

But we found this company called GreenPath, and they actually gave us a full game plan as to where to start first.

That first goal would be to start the steps toward looking for a house, or preparedness for a house, and after that, working on old debts and savings.

That was like the final goal.

>> Well, thank you so much for sharing your story and journey with us.

You all have made such great progress.

We look forward to seeing you tomorrow.

>> Thank you, guys.

>> Thanks, guys.

I have never heard of an interest rate that high.

>> Same.

Well, from $2,000 a month to $333, that is significant.

>> So significant.

>> Life-changing.

>> Absolutely.

>> Who is up, Ro?

>> Well, we have Wesley and Bobbye from Baton Rouge, Louisiana.

>> Yes!

Oh, my gosh, this couple, you guys, such a beautiful young couple, young children.

Their dog loves me, I have to say.

Absolutely loves me.

It's going to be so good.

You just wait.

You just wait and see.

>> How are y'all?

>> How's it going?

>> Hey, guys.

>> How are you doing?

How are you?

>> Welcome.

>> Welcome, welcome.

It's good to see you all.

I am so interested in hearing about how this has been for you.

>> So, in the beginning, we had $30,000 in credit-card debt.

We were actually four days away from losing our house.

>> Oh, my goodness.

How did that happen?

>> So about a month after we bought our house, we actually both lost our jobs.

And so it was like tossed between jobs.

And then I had actually started staying home because childcare for three kids was just expensive.

And I was just at the point where I just felt like there wasn't anything I could do work wise without having to pay what I was making in childcare.

>> Well, it was becoming an emotional drain on me, where it was just tough just to get up and just keep chugging along, trying to make ends meet when it really wasn't.

I'll be at work and then I would get -- my mom would call me and saying, "Hey, you have credit-card companies calling me, asking to get in touch with you."

That just crushes you.

I couldn't even function at work.

But now I feel -- I feel good.

I feel good about where we're at and where we're going, and I know our kids are feeling it too.

You know, we've been able to kind of give them a little bit more time with them, and just being able to provide for them has been amazing.

>> The first time I came, it was pretty tense, right?

What's your dynamic like now?

>> I feel like we're in a much better spot.

I mean, it was to the point to where we couldn't really talk about anything without getting into an argument, but now we're a lot more communicative and a lot more -- a lot happier.

>> And, I mean, we've been able to pay bills and, like, I had car troubles and we were actually able to pay the $400 out of pocket without having to go into credit-card debt or choose between like groceries or how are we going to pay this?

And, like, our mortgage actually ended up going up a little bit again.

It wasn't like, "Oh, my gosh, how are we going to do this?"

If bills fluctuate, it's like we know that we can pay it.

>> I have a question.

>> Yes, ma'am.

>> Clearly, a lot happened between $30,000 in debt and a house that was four days away from foreclosure and "our mortgage went up, and, hey, we can handle it."

So what happened?

>> So we were able to get a CDFI at Pelican State Credit Union, and they were actually able to consolidate most of our credit-card loans and help us pay for the next three months to get us back on track for our house and kept us from losing our house.

So we still have our house.

>> Yay.

>> Filed our taxes and we were getting 9 grand back.

And so instead of like, "Hey, let's go on vacation" or like, "How are we going to spend this?

", it's like we reached out to Lisa at Pelican State Credit Union and was like, "Let's set up a meeting to figure out the best way to use this so we can spend it wisely and not, like, spend it on something we don't need."

It actually helps, like, because we've been able to get our 7-year-old on the account, so they actually pay for his grades.

If he gets A's, he'll get $5 an A.

>> Wow.

>> I love that.

>> Yeah.

>> Yes.

>> I love it.

>> We couldn't have got it done without, you know, The Opportunity Finder pointing us into the direction of the Baton Rouge Career Center and able to help Bobbye find a job and help me get into to a soft-drink manufacturing company.

I'll be hosting special events.

And with the opportunity of pretty significant overtime.

>> Wait a minute.

We have to stop right there.

When I met this guy, he wasn't drinking water.

He was staying up all night and all day because of drinking soft drinks excessively.

>> It ruined my teeth.

I was in constant pain.

I was pretty much taking ibuprofen and Tylenol, overdosing on it because I just had to get out of some type of pain.

It ruined my self-esteem because, you know, most of these teeth aren't real.

I had to have eight teeth pulled.

And, you know, the Louisiana Center for Restorative Dentistry, I got there and they were like, "Alright, let's get the infections taken care of."

And then after a week of doing antibiotics, they went to work and taking care of taking out all of my bad teeth, helping me, you know, come up with a solid dental plan to make sure that I can actually be able to enjoy, you know, life without having to be worried about my teeth hurting or, you know, missing teeth up here, hiding them.

I'm just so -- I feel so much better.

>> Look at your smile.

>> I know.

>> Good.

Well, thank you so much for sharing your story with us and your journey is so inspiring.

We look forward to seeing you again tomorrow.

Thank you.

>> You guys did great.

So proud of them.

His entire smile.

First of all, when I first met him, he was not smiling, covering up his mouth.

And it was so important to address that because how could he get the confidence to go get another job?

And look at him now.

>> I think there's a couple of really happy children now.

>> Yeah, absolutely.

>> And a happy wife.

>> Amazing turnaround.

>> Who's next?

>> Well, we have Nicole from El Paso.

>> That's my family.

And you're going to love her.

>> Hello.

>> Hey.

>> How are you?

>> Good.

>> Hi.

Nice to meet you.

>> So, Nicole, I am so eager to hear more about your story and journey.

Can you share with us what this has been like for you?

>> It's been such a blessing to be on this journey.

>> I went from living literally paycheck to paycheck and really having to utilize seven credit cards.

Some of them were over 30% APR interest.

I was never going to pay them off.

That's what it felt like.

So then I was able to go to Raiz Federal Credit Union, and they were able to offer me a loan to get those credit cards paid off.

And when I last saw Louis, he had me cut up all my credit cards.

>> Oh.

>> And it was quite nerve-wracking.

But I also felt free from those cards and those debts, and it was just a relief in itself.

>> That's fantastic.

>> I would love for Nicole to give you a little bit of context, though, how she got here.

>> Okay, so I did get married at 21 and I have two kids, but I did get divorced about two years ago, so that itself was challenging.

But I know that me and my kids, we were safer and just better off together.

>> And what do you do, Nicole?

>> I'm a receptionist at my family's auto repair shop.

I do have my bachelor's degree in teaching, but because of the move, I don't have my certification to teach in the state of Texas.

That's my goal is to obtain that.

>> Where do you go from here?

>> I'm actually in the process of trying to get my certification.

Raiz is going to try and help me and give me a school loan for that.

>> Good for you.

>> How do you feel, Nicole?

>> I feel like I'm not so worried about finances like I was before.

I notice it's a mindset change.

Budgeting is something I have to do in the long run to really help me and my kids be successful.

>> I feel like a proud financial father.

>> You should.

>> It's not easy.

Again, she's a single mom with two kids, but she's just doing a wonderful job and I'm so proud of her.

>> Hearing your journey, I believe, is just so inspirational.

>> It really is.

>> Louis did a very good job, and I know we cannot wait to see you again.

>> I'm excited.

Thank you so much.

>> Thanks, Nicole.

>> Thank you for being here, Nicole.

>> Thank you.

>> That was great work, Louis.

What a transformation.

>> Thank you.

I just can't wait to see the rest of the journey.

>> Yeah, it seems like you've really helped put her on the right track, so you should feel good.

>> Thank you, thank you.

I'm really proud of working with her.

>> Awesome.

>> Alright.

Who's next?

>> Well, we have Maegan and Wes from Columbus, Ohio.

>> Oh, so, this is my family, and I'm just excited to see how much further they have moved in just the last couple of weeks.

>> Hello.

>> Hey.

♪♪ >> It's so good to meet you all and get a chance to hear more about your story.

But how scary was it?

>> When we met Jean, we were... We were behind on rent, on other bills.

We were like two months behind.

Just everything, like with our finances, was just a big mess.

And we're like, "I don't know what to do.

I don't know, I don't know where I can get the money for that."

We both were working part-time jobs.

It was not enough for us to pay the bills.

>> Do you all have kids?

>> We do.

We have three kids.

>> And childcare was a huge issue.

>> Yeah, because after like -- my mom was our childcare.

So after losing her it was like... >> It's okay.

>> It's okay.

>> Was such a big person in our lives.

And so it was -- after losing her...

It was so hard to do anything.

>> It's okay.

>> [ Sighs ] I just want her to be proud of where we are now.

>> She is proud of where you are now.

And you should be proud of where you are now because you guys have come a really long way.

>> Thank you.

>> Thank you for sharing that with us.

>> It's definitely hard to put that into words.

>> Yeah.

>> Yeah.

So where are we now?

Oh, look at that smile.

Tell us about it.

>> I mean, it's so exciting.

Just like we are not only caught up on rent, we're a month ahead.

We're caught up on all the bills putting this back -- this much back for savings, this much back for emergencies and all of that.

>> It was 50/30/20?

>> Yeah.

So we're trying to work on the 50/30/20 plan.

And, like, I got my worksheets just right off of Opportunity Coach.

So it helped, like, explain how to do a budget.

The great thing about the credit union is that our loan payment is only $45 a month, which is like... >> Wow.

>> ...is not much at all.

And we were able to do that.

>> You have to be shocked.

>> It was very shocking.

>> Thank you so much for sharing your story with us.

You've overcome so much and we look forward to seeing you tomorrow.

>> Thank you so much.

>> Thank you, guys.

They were in such a bad place.

But they've come a long way.

>> Yeah, it's so difficult dealing with loss like that, let alone the financial challenges.

>> Yeah, yeah.

>> Who's next, Ro?

>> We have Erika from New Orleans, Louisiana.

>> That's my lady.

>> Nice.

>> Hello.

>> Here she is.

Hello.

Excited to chat with you.

>> Absolutely.

Now tell us, do you think you got a new friend in your coach Patrice?

>> Answer wisely.

No.

[ Laughter ] >> Yes, yes, I do, I do, I do.

She's really nice.

She's tough, but she know her stuff.

>> Tough love, tough love.

>> Yes, tough love that I needed.

I definitely needed it.

>> So as fabulous as this woman looks, Erika, tell these guys where you were when we started this journey.

So when I first started, like, I felt like life was pretty much gut-punching me.

I was going through, like, a lot with my finances, just overspending, not paying attention to, like, my budgeting.

So I was, like, falling behind on, like, a lot of stuff.

Week before Miss Patrice came in, my car got repossessed.

>> But also Erika was taking care of her mother.

>> Ah, okay.

>> Prior to that, I had cancer same time as my dad, and, like, so I pretty much spent all my saving-- oh, God.

>> It's okay.

>> [ Sniffles ] Ooh.

I pretty much spent like all my savings on my dad funeral.

So then COVID hit, kept getting behind on stuff.

>> Have you recovered?

>> Yes.

I'm good now as far as with my health.

But you're going to be proud of me.

I have a personal trainer now.

>> Oh!

>> I had to step my game up a little bit.

>> Okay, I love this.

>> Tell us what you do, Erika.

>> I'm a licensed cosmetologist.

I do hair, nails, and makeup.

I also cut men's hair if you ever need a haircut.

I also design clothes and custom bling shoes.

And I do interior decorating.

>> So earning is not an issue.

>> No, earning wasn't an issue.

It was just me spending it just because I never knew how to really budget until now.

But I also, like, had to make sure, like, I paid my mom bills and stuff.

>> And I got to meet Mom.

That's my girl and she is sassy.

I just love... >> Double team.

>> She is sassy, but there's been a lot with even trying to get her finances in order.

>> So, I've been working with Southeast Louisiana Legal Service, and they say she may be getting back close to $20,000 in back pay.

>> Wow, that is incredible.

>> I'm trying to get a house too, big enough for me and my mom.

So far, I've saved $5,000 towards the down payment on a house, so they're going to give me $4,500 towards it because I've been saving.

And then also I'm going to go through another program with them where they give me another $4,500 towards like my business.

>> Awesome.

Thank you so much for sharing your story with us, Erika.

It's very inspiring to see just how much you've transformed.

>> Okay.

>> Thank you.

>> Thanks, Erika.

I saw myself in her quite a bit.

My journey started in New Orleans.

I was only minutes away from her home thinking about my own experience.

So to be back in that place and see my reflection in her and actually have a resource like The Opportunity Finder to send her to, it was a full-circle moment for me.

>> So gratifying in the end.

>> Absolutely.

>> To find your own opportunities, please visit opportunityknocks.net.

Next time on "Opportunity Knocks"... >> Welcome back to the hot seat.

>> Yes.

>> It feels hot.

[ Laughter ] >> We've got this fund of money.

>> We have something here called The Opportunity Fund.

>> And we can use that money to give to you to use.

>> We're not going to give you $5,000.

>> We're not going to give you $7,000.

>> What is that, Erika?

>> I feel like... [ Sobs ] >> Major funding for "Opportunity Knocks" is provided by the National Council for Financial Opportunities, a nonprofit dedicated to reducing poverty and creating economic mobility by breaking down systemic barriers, increasing equitable access to capital, and making opportunity accessible to all.

Its programmatic areas of focus include financial resiliency, financial accessibility, and income adequacy.

Additional funding provided by the Wells Fargo Foundation, which seeks to strengthen historically marginalized communities by investing in pathways to economic advancement and generational wealth.

Additional funding for "Opportunity Knocks" provided by Balance... and Callahan & Associates.

♪♪