Other than working for you to avoid bankruptcy and the consequences of that, including:
- That the bankruptcy is recorded on your credit file for 5 years
- That the bankruptcy is recorded on the public National Personal Insolvency Index (NPII) for 5 years
Here are some case studies of results that our team have got for our Solve My Debt Now clients.
Case Study 1
Jasmine came to us with three credit card debts of $50,000 in total.
She and her family were financially strained with a mortgage, credit card debt, three children and elderly parents living in their home. They were over-committed to the point that all they were doing was working to repay their debt. They were under pressure from lenders and debt collectors.
Jasmine was making only minimum repayments of around $240/week towards her debts and her debt level was increasing every week mainly due to the high-interest rates.
Our team at Solve My Debt Now negotiated for 3 months with the credit card companies.
Here’s what we achieved:
- One debt was reduced from $20,000 to $10,000
- Another $10,000 debt was completely waived
- The third debt was reduced from $20,000 to $15,000 and interest was stopped
Jasmine continues to make the same weekly repayments of $240. Due to the lower debt amount, instead of spending the next decade or more paying off these debts, they will be paid off completely in 2 years.
Case Study 2
Tina came to us a couple of years after a challenging break-up.
Tina had several debts that were still in her name following the breakup. Tina is now in a new relationship and looking to purchase a home with her new partner so that they can move forward. Tina had $10,000 worth of debt with 6 finance companies and multiple default listings on her credit file.
Our team at Solve My Debt Now negotiated for 2 months for Tina.
Here’s what we achieved:
- 3 of the 6 debts were completely waived
- Reductions of 20-50% on 2 of the other debts with a fair payment plan to pay off the reduced balances
- On the way to completely clear Tina’s credit file of black marks
Tina and her new partner can now officially put the past behind them and move forward with their lives.
Want to know more? Contact Solve My Debt Now on 1300 070 672 for a confidential chat.
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