Who can you turn to?
Are you having difficulty buying a property or refinancing your home loan?
You’re not alone, and there are alternatives. In fact, did you know 1 in 5 loan applicants now require an alternative home loan solution? If you’ve been finding the banks won’t consider your application for finance – it doesn’t mean you’re out of options.
He was looking to consolidate debts and had a history of credit defaults on his Credit Report, he had applied at two of the big four and had been declined by both.
- Age: 32 years old
- Occupation: PAYG Carpenter
- Income: $1,800 per week
- Assets: $400K Home, $25K Ute and 12K of Tools
- Liabilities: $150K Mortgage, $15K Car Loan, $20K Personal Loan, $25K Credit Card, $20K Credit Card, $10K Credit Card, $10K Store Card and a $5K Interest-Free Card
- Credit Impairment: 5K credit default registered 18 months ago, not paid. $500 utility default registered 2 months ago, not paid.
Theo had been through a divorce 18 months previously. He had taken over all pre-marital debts and in addition, he had accumulated a $20K personal loan which was used to pay for his legal fees for his divorce.
Theo's Mortgage statements were up to date but a few of the payments were late and his credit cards were over the limit.
"He had applied at two of the Big Four and was declined by both"
We were able to consolidate all of Theo's debt's into one easy to manage loan, Theo was able to free up some Cash Flow and is now paying down his debt.
We understand the way you can be left feeling, there can be a light at the end of your tunnel and we would love to show you how we can get you through that tunnel.