Debt Consolidation - How We Helped

Written by Lisa Bridgett on April 14, 2024

Debt Consolidation - How We Helped

Client's Challenge

Sarah, a valued client, found herself overwhelmed by the complexity of managing multiple repayments for various funding sources. The sheer volume of payments was not only causing her stress but also raised concerns about the potential impact on her credit score and overall financial health.

How We Helped

Thorough Property Evaluation: Our first step was to conduct a comprehensive assessment of Sarah's property. The valuation revealed a significant equity of over $200,000, offering a promising opportunity for debt consolidation.

Lender Negotiation: With Sarah's financial goals and circumstances in mind, we meticulously assessed her serviceability with several lenders. Through negotiations, we secured competitive rates that aligned with her needs and financial objectives.

Efficient Debt Consolidation: Leveraging the available equity and the favorable rates negotiated, we guided Sarah through the process of refinancing with a new lender. This strategic move allowed us to consolidate all her existing debts into a single, more manageable repayment structure, facilitated through a residential mortgage.

Outcome

Simplified Repayment Structure: Sarah transitioned from managing multiple repayments to making just one monthly payment, reducing administrative hassle and the risk of missed payments.

Monthly Savings: Consolidating Sarah’s debts and refinancing her mortgage, led to significant monthly savings of $2,154, providing Sarah with more financial flexibility.

Enhanced Financial Well-being: With streamlined repayments and reduced financial stress, Sarah experienced an overall improvement in her financial health, empowering her to plan for a more secure future.

Client Testimonial

"Lisa and her Team at Stellar Finance were nothing short of amazing. Their dedication, expertise, and unwavering support resulted in fantastic outcomes for me. I highly recommend Lisa and her team to anyone seeking financial guidance."


Do you want to consolidate debts? Are you confident that your loan is working well for your latest situation? Contact us today for a chat.

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