Examples of Fast & Easy

Debt Solutions

Read the debt management examples below to see how we change people's lives from worrying about money to managing money & enjoying life again.

debt management case studies

Debt Management Solution Examples


        
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Debt Management Solution – Mortgage Variation

Barry and Kim were both working full time while raising three teenage children. They were balancing their finances until Barry’s employer closed down and Barry was out of work for 3 months. During that time all of the household accounts and the mortgage fell behind. In addition to the normal household bills, Barry and Kim had 9 additional credit facilities totalling $90,000.00.

After contacting Just Budget, we proposed the debt management solution to organise a variation to the mortgage contract and clear the arrears, in addition, we contacted all of the remaining creditors and advised them of the circumstances.

The previous monthly payments for Barry and Kim’s credit accounts were in excess of $2,500.00 per month. We successfully renegotiated the terms of these contracts and reduced those payments to $900.00 per month.

Not only did we assist in saving Barry and Kim’s home we also reduced their overall monthly outgoings by over $1,500.00 per month.

Debt Management Solution – Freezing Interest

Rick and Sam were guarantors for their son’s car loan but when he stopped paying for it they became liable. They could not afford this new debt along with their mortgage and other credit cards. After all of the debts were sold to collections companies and Rick and Sam had been told they were going to lose their house they contacted us.

Because they were both on Government pensions they could only afford $250 per month but the collections companies wanted lump sum payments and monthly payments in the thousands.

Our debt management solution was to contact the creditors and carefully explain and thoroughly document Rick and Sam’s current financial situation, so we were able to freeze the interest and fix the payments at $25 per month.

family didn't lose their house
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Debt Management Solution - Credit Card Payments

Pam was a single working mother caring for her disabled son. She applied to her bank for an increase on the mortgage to renovate her home to be accessible by wheelchair, after they turned her down Pam took out 10 credit cards totalling $95,000.00 and renovated her home so her son could go outside while she was at work. After a few months, Pam could not keep up with the payments and started to fall behind. Before contacting us Pam was receiving upwards of 50 calls a week sometimes she was receiving nasty messages. Other times she would receive 5 calls in a row from a blocked number with no message at all. This was most likely a debt collection company.

When Pam contacted us she was at breaking point, her minimum monthly payments were nearly $3000.00 and she could no longer take the threats or pressure. The debt management solution we developed was to contact all of her creditors and advised them of her vulnerable financial position and were able to renegotiate her payments to a more affordable $900.00 per month and stop her ongoing interest.

Debt Management Solution – Affordable repayments

Daniel had recently separated from his wife and refinanced his home to pay out the family court orders. After interest rates continued to rise between 2005 and 2009 Daniel could no longer afford his credit card and car payments.

Daniel contacted us and we set a schedule for payments that Daniel could manage. After 3 consecutive months of making those payments, his car finance company agreed to reduce the remaining payments on his contract to that amount.

We then contacted his credit card companies and advised them of Daniel’s financial hardship and they agreed to reduced payments with no interest until the contracts were paid in full.

If you are struggling to find a debt management solution, information on the Government website Smart Money can be very helpful. 

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Just Budget Frequently Asked Questions

Just Budget was founded by financial specialists who understand the complexities of debt management. We are here to offer debt relief strategies and financial assistance. Our experts can help you to regain control of your budget and as a result, achieve your financial goals, short and long term. Our products and services are geared towards looking for the best workable solution to your debt problems. Our aim is to help you to get out of debt, and if possible, avoid it altogether! We offer budgeting tools, financial assistance and a wide range of services. Consequently, we are well suited to help with almost any debt issue. Remember, many people struggle with debt and there are always solutions. Our financial support team can guide you through to becoming debt-free.

First and foremost, we are here for you. Our aim is to care for you and support you in any way that we can. Offering debt relief, Just Budget is able to provide unique budgeting plans and tailored assistance to suit each individual. If we can help you to keep on track with your money, while meeting your financial goals and reducing stress, then we know we have done a good job. Life is short and there are a lot of things to worry about, but we believe that money doesn’t need to be one of them. This is why we are here, to provide you with a pathway to avoid worrying about your finances again.

As well as helping with budgets and offering general financial assistance, we provide a wide range of services to suit you. Our Debt Management, Consolidation, Negotiation and Agreement services each help you to manage debt in different ways. On top of this, our Credit Support service provides you with the opportunity to wipe your slate clean and get your credit history repaired. Our business and personal loans can also provide you with the financial support you need.

Most people find themselves tied up in debt at some point in their life. The important thing is doing something about it. Whether it be simple budgeting or financial planning that you need, or more, we are here to help. If you need your money managing, then we can act as the wall between yourself and your creditors. We can consolidate your debts into one so you no longer owe multiple debts at random times of each month. You then pay us one single amount and we deal with the creditors. This way, you can be sure that your bills will be paid on time and you can organise your money more easily with just one payment. In addition, what’s best of all about our service is that in some cases, we can even negotiate your debt so that you end up paying less than previously!