There are many reasons why people fall into debt. But until you experience the pain, stress, anguish, and frustration of being caught in a debt trap, then it can be hard to grasp just how it would ever happen to you. How would you slip into debt? How would it affect your life – and the life of those you love and care about most? And how would you climb out of the entangled web of debt?
These revealing success stories will help give answers to these questions – and many more. They are true stories, as told by real Debt Fix clients who were once deeply affected by the devastating consequences of debt, but who managed to seek help, regain control of their finances, and get their lives back on track. Only their names have been changed for privacy reasons. Hopefully, these inspiring stories will help give you, or someone you know, the courage to get started on the rewarding road to debt relief.
Sarah: Remnants of a Broken Relationship
Sarah’s boyfriend had a bad credit score. So to help him out, she agreed to take out personal and credit card loans for him under her name. But when the relationship ended, her boyfriend abandoned those debts, leaving her to deal with his burden. Although Sarah had a well-paying job, the size of the debts was so large, she couldn’t afford to repay the money on the creditor’s terms. Then the debt collector calls began, causing her to spiral in a whirlwind of panic and stress.
And that’s when Sarah approached Debt Fix. The Debt Fix team assessed her situation, helped her prepare a new budget – one that reduced unnecessary spending without severely compromising her lifestyle – and negotiated with the creditors on her behalf. After some deliberation, the creditors agreed to extend her debt repayment term to 5 years. This gave her more time to repay her debts, and it lowered her monthly instalments to 70% less than what they were before. Sarah now has a much brighter financial future, and she can finally start saving for a house deposit.
Emily and John: Risk of House Loss
After years of hard work and saving up for a deposit, Emily and John secured a mortgage and their dream home. And for the next six years, the two comfortably met their mortgage repayments.
But when John lost his job, he could no longer contribute his share of the mortgage repayments, so the two resorted to using credit cards until John found a new job. But by the time he did, the two were still behind on their mortgage payments, and their high-interest credit card debts were out of control.
To keep the home and life they worked so hard for, Emily and John consulted the specialised mortgage team at Debt Fix. The team were able to consolidate all their credit card debts into a new mortgage. The team also negotiated with Emily and John’s creditors, where they were able to extend the life of the debt term and reduce the amount of money that the two were paying each month.
In doing so, Emily and John were able to keep their house, and they were given enough time to repay their debts – on their own terms. Upon reflecting on his journey, John said, “Without Debt Fix we would have lost the house for sure. I would like awake at night worrying about my situation. Thank God for Debt Fix.”
Allan: Injury and Unpaid Time Off Leads to Debt
When Allan broke his arm in an accident, he had to take unpaid time off work. He also had no health insurance. As a result he had to use a credit card to pay for his treatment and recovery. But since he no longer had a reliable source of income, the bills started piling up – and so too did his anxiety. Even after he returned to work, he was so far deep in the red that he had no chance of catching up. He even tried negotiating with his creditors, but they refused his request for a new debt repayment arrangement.
That was when Allan decided to contact Debt Fix. After he explained his situation to the team, they helped him prepare a new budget. They showed him where he could cut down on unnecessary spending so that he could contribute more money to his debt repayments. They also negotiated with his creditors on his behalf, until they agreed to a new debt repayment arrangement that he could afford over the long term.
Once the new debt repayment arrangement was in place, the debt collectors stopped calling and Allen could start working towards a life free of debt. He is now well on his way to climbing out of debt and moving forward to better days.
Regain Control of Your Finances With Debt Relief
The above stories are just a sample of the many ways that debt can affect people’s lives. They also demonstrate how Debt Fix has helped people consolidate their debts and work towards financial freedom.
Whether the circumstances of your debts are simple or complex, our team can help you make sense of your situation by taking the time to assess your finances and the nature of your debts. Using this information, we will work closely with you to help you plan a budget, negotiate with your creditors on your behalf, and establish a new debt repayment arrangement that is a better fit for your needs.
Call Debt Fix today on 1300 332 834 or get started to arrange a consultation and take your first step to a debt-free future.