A Success Story for Michael Kristy

Michael was recently  made redundant after his employer fell upon hard times and found himself unable to meet the mimimum repayments on over $30 000 worth of credit cards and personal loan debt. His partner, Kirsty was working part time as well but was also finding it hard to juggle work with looking after the couple’s two young children. They were not coping with the debt at all and struggled to provide for the family.

Michael and Kirsty were soon dealing with intimidating debt collectors who were now threatening to take Michael to court and send him bankrupt. This would have imposed serious restrictions on his future earnings, job opportunities and right to travel overseas. They were desperate to avoid this but didn’t know where to turn.

Luckily, a friend in a similar situation had mentioned the life changing help she had received from Debt Mediators and urged Michael and Kirsty to give us a call.

We looked closely at their situation and then created a payment plan for Michael under which he would repay $25,000, interest free using a Commonwealth Government regulated Debt Agreement. The repayments were set at an affordable $120 per week (to cover the entire debt) and Michael was debt free within 4 years.

His creditors stopped all harrassment and legal action, and Michael only needed to focus on making one, affordable repayment. He’s now back in full time employment and has more money left over each week to support himself and his family.
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