had 3 debts totalling $88,015. One of them was a second mortgage of $72,816 and had incurred a monthly default interest rate of 20%. Mrs. P needed to refinance her home to payout these creditors and quickly.

Funds National Pty Ltd (their Broker) was able to secure loan approval of $396,000 even though the applicant’s home loan was in arrears and they had not been making payments towards the caveat loan.

In order for the approval of the refinance and with an LVR of 75%, her debts needed to be reduced by more than half. Choice Debt Solutions was able to reduce the second mortgage debt from $72,816 to $40,000 and hold that figure without interest until settlement, which took a further 2 weeks. In total CDS saved the client $39,483 a 55% saving, plus the interest that would have accumulated over the 2 weeks until settlement.

had a marriage breakdown. Because she had custody of their child and in order to keep some regularity in his life, she chose to keep the family home and payout her ex husband. Over time, these responsibilities became crippling to Mrs. L and she became very ill. She spent considerable time in and out of hospital. During this time, she relied heavily on her credit cards to pay bills and for general living expenses.

Over the next few years, while she struggled to make minimum payments, her debts were sold to Collection Agencies but continued to accrue interest. She had two options, bankruptcy or reduced settlements.

Mrs. L was able to borrow money from her sister, interest free. Choice Debt Solutions reduced 2 debts to the value of $29,245 down to $20,000, saving her $9,245 and the hassle of continual monthly payments that never reduced the principal.

 

had purchased a small business. They spent their savings renovating the shop front and building the business. Unfortunately it took a considerable amount of time for the business to begin making a profit and in this time they accumulated substantial debt.

The house mortgage was in arrears and they had been served with a Writ. They had a 2nd mortgage and their vehicle was about to be reposed. They owed money on several credit cards.

Mrs. C’s parents refinanced their home to help them out, but there were not enough funds to payout all the debts in full. The mortgage and vehicle payments were brought up to date and the remaining funds were used to payout their credit cards.

The second mortgage on the property was $42,340. Choice Debt Solutions were able to reduce this to $30,000. This left Mr. & Mrs. C with one mortgage and one payment. Their credit cards totalled $50,819. Choice Debt Solutions reduced this to $27,837.

Mr. & Mrs. C now continue to work hard in their business, but can sleep well at night knowing their debts are paid or up to date.

had a young son who was diagnosed with Cancer. There were many years of ongoing treatments and medical bills and at the age of 52 Mr. S lost his job. Mrs. S’s single income was not enough for the family to live on, and the stress of these burdens left Mr. S overwhelmed both emotionally and physically.
Their only option until Mr. S finds employment or his Superannuation is released, is to refinance their home and use the equity to payout their debts.

They had accumulated 16 different credit cards and personal loans totalling $233,567. Choice Debt Solutions laboured endlessly for Mr. & Mrs. S and averaged a 55% discount. They’re final payment was $128,561 saving them $105,106.

Mr. S can now look forward, concentrate on gaining employment and work towards a stress free retirement.