1. How an Informal Debt Agreement worked for Shannon
Shannon was working part-time and studying full-time at university. After lots of sleepless nights worrying about her growing debt she called Debt Rescue.
Working part-time she earned $32,000 per year, but was heavily using her credit cards for living expenses. Shannon’s credit cards, personal loans and telephone bills added up to about $45,500 and she wasn’t coping with her repayments of around $270 per week.
By creating a manageable solution, we helped Shannon by saving her $90 per week in repayments, plus thousands of dollars in interest. Now she understands her budget and is living affordably. She can concentrate on her studies and is looking forward to her future without a black mark against her name.
2. How Reading the Fine Print Saved Money for
Rod and Marie
Rod and Marie were in their mid-60s and should have been looking ahead to retirement, but they were feeling sick about their financial situation. They thought a new loan was their only option and so they signed up for a seven year loan for $60,000 to consolidate their debts and buy a car. They realised they would be well in their 70s by the time they would finally pay it all off. After interest their $60,000 loan would add up to more than $100,000 to repay – and they still had living expenses to meet too.
Then they spoke to Debt Rescue. We reviewed the loan paperwork and on reading the fine print our experienced team discovered the couple had unknowingly agreed to an additional $14,000 in insurance premiums over the seven years at 29% interest. Debt Rescue was able to cancel the insurance and recover that money upfront, on top of helping them to address their debt issues. Rod and Marie are back on track for retirement.
How can Debt Rescue help you? Talk to an Aussie Who Cares – the team at Debt Rescue can talk with you about where you are, where you want to be and the best way to get there. Contact Debt Rescue today.
