Helen and Mike had found themselves in dire financial straits. Helen had been out of work for some time due to unforeseen circumstances, and to help cover their bills they had turned to payday lenders. As so often happens with utilising these types of services, their debts compounded and had ballooned significantly by the time they got in touch with us.
While discussing their circumstances at the initial meeting, their mortgage broker Josh identified that Helen and Mike did not perhaps have the greatest financial understanding when it came to their home loan. A key component of the services The Loan Company provides is educating our clients, which we did extensively – particularly covering relevant topics to our clients, such as debt consolidation, which they were both extremely keen to make happen given they were on the brink of financial hardship.
The clients had ongoing monthly payments across all their debt types of over $4,400, including their mortgage. Through extensive discussions with their broker, they established their requirements around living expenses and budgets, and their preferences for lenders and loan term.
Taking into account his clients’ preferences, Josh helped them:
Apart from being stress-free due to the alleviation of their increasing debt burden, it also paved the way for Helen and Mike to better manage their funds going forward and make additional repayments on their home loan when they were able to. To round out this great outcome, the refinance allowed the clients to quickly save some money for an overdue and much-needed holiday to Bali.
Another wonderful success story for our clients!
Does this sound like you, or someone you know?
Get in touch with The Loan Company and see how we can help!
*Names changed for privacy reasons. All other information is true and accurate.
Disclaimer: The above is provided for informational purposes only and is not intended as financial or legal advice.
