Jennie (Not her real name) had a car accident and luckily nobody was injured but she was found to be the one at fault and both cars were write off’s.  She was not fully insured as she could not afford the premium on top of all her credit card repayments and living expenses.

Jennie had a secured loan for her car and the lender wanted the balance owing immediately.  Jennie was given 30 days to pay the $12,000 balance owing on the car loan and the collection agency was calling her every few days.  The insurance company for the other person had also given Jennie a bill for $25,000 for the other car involved and the debt had also gone to a collection agency.

Jennie needed a car to get to work because it was very difficult by public transport from where she lived, so she applied for a small personal loan to buy a cheap car but her bank would not help.  Jennie ended up getting a cash advance with what remained on her credit cards to get the car. Then she had car troubles and had to get a payday loan to pay for car repairs.

Jennie had the two debts from the car accident, three credit cards and a store card for a total of $51,000.  Jennie decided that she would apply for a debt consolidation loan to get all her credit cards and other debts into one debt consolidation loan, with one regular monthly repayment instead of all the different loan repayments and arrangements she had with collection agencies.  Jennie wanted to get her financial life sorted out because she wanted to be able to get a home loan with her partner later on.

Jennie contacted Debt Control for debt consolidation help and one of Debt Control’s friendly debt consolidation specialists had a thorough look her situation and outlined her options.  Debt Control was able to help her consolidate all her debts into one affordable weekly payment of $185.