Profile
- Age – 40 years old
- Occupation – Lecturer for the last 8 years
- Income – PAYG $82K
- Assets – House valued at $850K
- Super – $180K
- Liabilities – Bank loan $400K
Background
Angela’s husband passed away 1 year ago. Angela now the only income earner for her 2 children incurred a period of financial stress due to the loss of her husband and accumulated $100K in credit card and personal loan debt. Since her husband passed away, Angela incurred a credit card default for $2800 listed in Sept 2013. Angela is currently working full time in a PAYG role and would like a mortgage to refinance her existing home loan and consolidate her high cost personal debt.
Solution
Angela will qualify for the our Bad Credit Home Loan which would accommodate her refinance and unsecured debt consolidation and allow her to consolidate and simplify her monthly repayment commitments all into one, cost effective mortgage repayment.
