Debt Rescue celebrates as a client pays of debt more than a year earlier than expected.
According to a report released by Insolvency Trustee Services Australia (ITSA), 23125 Australians became bankrupt in 2011. Debt Rescue, a personal debt management company, is working to help the near 70% of Australians experiencing financial stress and reduce the number of bankruptcies occurring in this country. This week Debt Rescue celebrates another success story as a client became debt free more than a year earlier than expected.
As a young man employed in full time work Steven* had never had any financial difficulties. With a baby to support, a personal loan and a few credit cards under his belt, Steven began to feel the pinch. He soon found he couldn’t keep up with his loan repayments and felt he was headed for bankruptcy. It was at that point he contacted Debt Rescue.
After assessing Steven’s situation, Debt Rescue suggested he enter into a Debt Agreement which allowed him to pay back as much as he could to his creditors over four years. This significantly reduced his debt and allowed him the time and opportunity to get back on top of his finances. Steven repaid his debt 13 months earlier than expected and is now incredibly happy to be free from debt and back on track.
Steven is celebrating his early repayments by marrying the love of his life and enjoying a stress free honeymoon in a tropical paradise. With the help of a financial planner, he hopes to never fall into debt again and will use the money he was putting toward his Debt Agreement to help his new wife repay her home loan.
Debt Rescue offers a range of services, strategies and solutions to people in debt. From devising a household budget to negotiating Debtstroyer and Debt Agreements and even offering information and assistance with bankruptcy, Debt Rescue can help you.
If you are struggling with debt and want to talk to someone about your options, call Debt Rescue and Talk to an Aussie Who Cares on 1800 00 3328 (DEBT).
*Name has been changed for privacy reasons.