12 successive interest rate rises left Rachel and Steve wondering what they did wrong! Buying a home was meant to be the key to taking care of their family but the last couple of years things seem to have been getting worse. Since they first took out the mortgage the repayments have gone up $154 per week!!! They’ve had to use their credit cards for emergencies as they came up (the engine blowing up, the hot water system dying etc). Now they’ve let the credit cards fall behind so they could pay the mortgage. There were a lot of sleepless nights, the debt collectors wouldn’t stop calling and they didn’t know what they were going to do. Rachel and Steve applied to refinance their mortgage but were rejected due to defaults on their credit history.
We helped Rachel and Steve to consolidate their debt repayments with a Debt Agreement. After looking at their situation, their Consultant identified that they could repay $141.00 per week after their mortgage and taking care of their family. Debt Mediators put together an agreement with all of their unsecured creditors over 3 years, under which they repay about $2000 less then they owe and it’s interest free!!! The knowledge that their credit cards are taken care of and they are three years away from only having their mortgage to pay has given them their peace of mind back.
Get your free phone consultation now by calling Debt Consolidation Info Australia on 1300 679 402 or fill in our Contact Form and we will be in touch within 24 hours.
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