Rob works for a big mining company on a fly-in / fly out basis, located in far north WA. In recent years his annual salary has increased significantly and whilst his financial commitments and regular expenses are fairly high they are not out of proportion to his income. His wife, Mandy, and two children live in Perth and he returns home to see them when he is off roster for work.
Unfortunately, his employer has been caught up in the recent global financial events and has been forced to lay off a large number of employees, which included Rob.
When he returned to Perth, Rob managed to secure a new job but on far less income than he was previously earning. This has left Rob in the impossible situation of wanting to maintain his financial payments and commitments but just simply not having enough money to cover everything.
Rob and Mandy: Overview of current position:
| Loan | Balance $ | Monthly Payment |
|---|---|---|
| Personal Loan | 40,000 | 600 |
| Credit Card 1 | 5,200 | 150 |
| Credit Card 2 | 10,700 | 200 |
| Store Card | 3,500 | 100 |
| Total: | $59,400 | $1,050 |
Australian Financial Solutions Debt Solution
Rob's wife Mandy decided to call Australian Financial Solutions after seeing their advert on TV. She discussed their predicament with an Australian Financial Solutions consultant and arranged a meeting them for the very next day to begin working on their debt solution.
Within around 24 hours of their meeting, Australian Financial Solutions had assessed their financial position and explained all of the available alternatives for them. With advice from Australian Financial Solutions Rob and Mandy determined that a debt agreement was the best debt solution for them.
Australian Financial Solutions assisted Rob and Mandy in preparing the debt agreement proposals, arranged for them to be lodged and they were approved by their creditors.
Rob and Mandy's monthly repayments have now been reduced to a manageable $650 per month, interest on the debts is frozen, and after 3 years they will be released from all of those debts. They are no longer being pressured by their creditors.
The Australian Financial Solutions debt solution:
- Rob and Mandy reduced their payments by $400 per month.
- They now have one single monthly payment to make.
- Avoided the prospect of bankruptcy.
Contact us now at Australian Financial Solutions on 1300 237 669 to discuss the debt solution that best suits you and take the next step on the path to your financial freedom.
(this case study is an example only and is not an account of an actual case)