An Example of Debt Reduction
Lucy was a single mother who was struggling with her debts. She had been in between jobs for three months, which had left huge debts on her credit cards. Because of her financial situation, she was unable to secure a debt consolidation loan. Even worse, she was unable to make her monthly repayments on her credit cards, meaning that her debts kept building and building. Lucy started receiving intimidating letters and phone calls from her credit providers, adding further to her stress.
Lucy called Just Budget and together they worked out a realistic budget that Lucy could afford. Just Budget then called Lucy’s creditors and explained her situation to them. Using their knowledge of Australian legislation and their debt negotiation skills, Just Budget helped to significantly reduce Lucy’s monthly payments for six months which allowed Lucy the time she needed to get back in control of her situation. Lucy’s credit file was also preserved during this period.
After Just Budget has negotiated your debts under the hardship legislation, we then use our debt mediation services to help you continue to stay in control of your finances.