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Courier Mail explores the job of a Debt Consultant

Michael — Tue, 09 Sep 2008 23:42:52 +0000

The Courier Mail interviews a member of our experienced debt consultancy. Read the Article

Crippling Home Loan Repayments

Michael — Tue, 09 Sep 2008 05:35:49 +0000

Peter was working as a Science Teacher for 20 years. While it didn’t offer an enormous salary, together with his wife Susan’s part time wage it was enough to put their 2 kids through school and cover the mortgage repayments. Together they’d paid off a large amount of their home loan.

Unfortunately, Peter suddenly fell ill. After his sick leave ran out, he had to use credit cards to pay the home loan, help the kids at Uni and cover the cost of living. After 8 months he recovered but was left with $35, 000 in crippling credit card debt. After the mortgage and the bills he had to catch up on, he still had to pay more than $700 per month on his credit cards just to cover the minimum payments.

We organized a Mortgage Refinance for Peter and Susan. This allowed them to consolidate their Credit Card Debt into the mortgage and reduce their total repayments by $700 per month! The reduction in repayments allowed Susan and Peter to keep their home and stop the harassment from their credit companies. They are now able to meet their repayments and feel much more confident about the future.

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.

Business Collapse

Michael — Tue, 09 Sep 2008 05:33:51 +0000

Mark left his job as a fitter and turner to start his own business 4 years ago. He started out with 1 courier van in the inner city. Business was going well and after 2 years he was getting more business than he could handle. Family life was going well too and he was making enough to send his son to a private school. He therefore decided to expand. He bought 3 other vans and hired 3 staff to drive the vans as well as himself. Suddenly however, some problems arose: contracts began to fall over, interest rates rose, his staff turnover increased and things began to get very tight.

Mark had to fire all of his staff to cut costs and began working 60 hours a week as a courier and doing night shifts as a cleaner to try to make the payments on the van. 2 years later his health is suffering and he hasn’t seen his son in what feels like forever. His cleaning work has dried up, the payments on the vans have fallen behind and all he can now think about are his financial woes.

Our experienced staff were there to help. Given the size of his debt and the fact that he had next to no income, Mark soon decided that a bankruptcy was the best solution for him. We worked through his financial situation and helped him realize exactly what was entailed in a bankruptcy, given his particular circumstances. We also handled all the legal work needed to get him approved as a bankrupt and took the stress out of the process for him. Mark was able to keep his first van and is now back to working 40hrs per week. Life is back to normal and he even manages his son’s AFL team on Saturdays!

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.