Case Study #1 - Emma
The Need
Emma faced escalating mortgage arrears, unpaid rates, and piling utility bills after the unexpected passing of her father.
The funeral and related expenses had set her back significantly, and she feared losing her family home.
The Challenge
Despite applying for a $4,000 advance to cover her immediate mortgage arrears, Emma was declined by every mainstream lender due to her existing defaults.
Her home, however, held substantial equity—a potential avenue for relief if the right lender could be found.
The Solution
Emma’s loan advisor structured a secured loan using Emma’s home equity, consolidating over $40,000 of arrears, credit-card balances, and overdue bills into a single loan.
This not only cleared all her debts but also reduced her weekly repayments by $100!
Emma was very happy with the result. With her credit now tidy and cash flow restored, she can now pursue a traditional refinance with her bank in a few months’ time.
Emma’s situation is a great example of how a secured loan can help to consolidate and manage debt.
Our team of experienced loan advisors work closely with clients to understand their financial goals and create a personalised plan to achieve them.
Secured loans are just one type of financing option available at Loansmart. We also offer unsecured personal loans, vehicle finance, business loans, and more.
Our goal is to provide our clients with the best possible solutions for their individual circumstances.
Case Study #2: Sophie
The need
Sophie initially applied for a modest $3,000 loan to help with family support, only to be declined by most lenders due to her existing obligations.
The challenge
Having existing loans can be an issue for some lenders, who are concerned about the client’s ability to manage the loan repayments.
When Sophie’s loan advisor had a look at her situation, they found multiple outstanding loans whose combined repayments left her with insufficient disposable income.
As a result, most of the lenders Loansmart works with declined her loan application.
However, her loan advisor didn’t give up, and kept looking for a lender willing to both approve and consolidate these debts.
The solution
Thanks to some creative problem solving by her loan advisor, a lender was found, who was willing to not only approve Sophie’s loan application but increase it to $34,000.
With this, we paid her off four separate loans – all her debts – and provided Sophie with $4,500 in surplus funds.
Not only did she get the cash she needed, but her weekly repayments fell from $400 to $250—a $150 weekly saving that boosts her family’s budget.
This is typical of the sort of out-of-the-box solutions our loan advisors provide. They understand that every individual’s financial situation is unique and requires a tailored approach.
Our team of friendly advisors are always here to listen, understand and come up with creative solutions to help our clients achieve their financial goals.
Whether it’s consolidating debts, renovating a home, or starting a business, we have the expertise and resources to find the right loan for you.
