Adviser Case Study: Specialist Scenario

1.2k consolidation Select

It can be hard to keep up with multiple loan repayments at the best of times, but what happens when you start to enter financial hardship?

After a tough year financially, the customers struggled to meet their minimum repayments and fell into arrears. Read how Bluestone helped them save over $1,200 a month in repayments and get back onto their feet.

What was the customer’s situation?

The customers had experienced financial difficulty over the past year. The husband was part of a restructure at work, which led to a reduction in his salary and his wife has only recently returned to regular employment after an ACC injury.

What made this deal unique or challenging?

The customers struggled to keep up with repayments on their mortgage and five other personal / consumer loans – they simply didn’t have the income to meet the minimum repayments as well as the required arrears payments.

How did Select help?

Select was able to approve their loan and consolidate their debt under our Specialist product. We also covered the cost of valuation and waived all application fees.

After consolidating their debt into one easy to manage repayment, they are saving over $1,200 a month. The customers commented that they will now be able to sleep easy at night.

Related Articles