Dan – the importance of maintaining a good credit rating

Hardship Reasons
Separation – Divorce

This is my story

“I learned my lesson the hard way”

 

Dan was going through a divorce and the lawyers bills kept piling up. He took out small amounts of high interest loans to pay the invoices. He tried to stay on top of things. With a high income, he thought he would be ok.

But that all came apart when his income stopped covering the loan repayments. He contacted his bank for help. That made things worse. It impacted his credit rating.

“I learned my lesson the hard way”

Dan spoke with Way Forward’s Client Services Manager Paula to develop a budget and repayment plan.

“I can see what goes in and what goes out. I just don’t buy things that I don’t need.

“I felt like Paula understood my situation. I felt like she was looking after me. The communication has been very good.”

Dan no longer has small loans or credit cards.

“I feel more comfortable because I have what I need. I feel like a different person, I am happier.

I don’t need as many things as I thought I did before.”

Dan used another hardship service but perceived the monthly repayments as “very unrealistic.”

“I feel so much better because I don’t have to deal with banks or small providers. I keep receiving emails and offers but I feel like I don’t want to take that because I have learned my lesson.”

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