When debts get out of hand, we have the answers!

With school fees in arrears and various small but stressful debts playing on their minds, the clients approached WhiteStar to see if there was a way of restructuring their borrowing arrangements to clear their liabilities and set a more promising path towards financial stability.

By working with the couple and their lender, our broker Joanne was able to successfully negotiate a home refinancing agreement that would relieve them of the huge stress that was playing on their minds and affecting their wellbeing and that of their family.

The package not only made it possible for our clients to settle their smaller debts and the outstanding school fees, but also provided greater assurance that they could cover the ongoing school fees in the future. This delivered enormous peace-of-mind to the couple who were fearful that they may otherwise need to consider taking their young ones out of a school they were happy at.

Most importantly though, the new arrangement would not actually have a significant impact on the family’s weekly budget, with an increase of only around $200 per month. This was a small price to pay to overcome the sleepless nights and constant worry about their children’s education.

However, regaining control of debts is one thing – maintaining a healthy financial position can take a lot more effort without the right tools. They recognised that this could easily become a problem if old habits crept back in.

To help prevent this, they took the opportunity to sign up with the easy-to-use WhiteStar Money Management Program. Not only did it help them establish a plan to reduce unnecessary spending, but it now keeps track of their expenses and supports them in managing their finances going forward – especially given that they are in a high-expense phase of their life.

Now, with their financial situation much more stable and a lot less stressful, they can get on with enjoying the best years of their lives and all the joys of raising a young family with a bright future.

So, remember, obtaining finance is great but the bigger picture is to maintain your finances comfortably. Ask one of our lending experts about WhiteStar Money Management Program.