Debt consolidation is difficult to manage by yourself, especially if you have an existing home loan that has gone into arrears. Launch Finance recently negotiated on behalf of a client to assist them in consolidating their debt and helped ensure they received the best rates on the market.
Our client was originally referred to our Launch Finance branch in Mandurah after her home loan repayments were falling into arrears with her current bank. Our client was faced with a severe dilemma, as there was a possibility she would have to sell the family home in order to cover her current debt along with the ever-increasing solicitor fees. This would have left our client in a disastrous position, as she would have lost her foothold in the property market and would no longer be in a position to purchase another property.
Many people may believe the big banks are unwavering in their policies and may often be intimidated to plea for extenuating circumstances. However at Launch Finance our brokers are trained professionals and are here to take the time and stress out of debt consolidation. We take a personal approach in negotiating deals with our wide network of secure lenders. In this case, our client was a single parent with four children who was only able to work part time and was reliant on a family tax benefit and child support. Our team approached one of the lenders on our panel to consider this an exception to their policy.
We were able to breathe life back into our client’s home loan by successfully negotiating a deal with one of the Big 4 banks through debt consolidation, which will ensure our client’s weekly repayments stay within her comfortable range, therefore enabling our client to keep her family home.