The Need
Jayda urgently needed $5,000 for funeral costs, but she didn’t have enough savings to cover this.
Funerals can be expensive, with the average one in New Zealand costing between $8,000 and $10,000.
Even though Jayda was budgeting at the lower end of this, it was still a lot of money to her, especially considering she had a few other loans already.
The Challenge
One of the most pressing concerns for Jayda was time. She needed to get hold of the money almost immediately, as the funeral was happening in the coming weekend.
This is where some lenders, like banks, come up short, with approval processes often taking several days at best.
Online lenders like Loansmart, on the other hand, can get loans approved within hours! For people like Jayda, who need funds urgently, this is a life saver.
The Outcome
We quickly got Jayda’s approval for the $5,000 loan and made sure she had the money in her account by the weekend.
But we didn’t leave it there.
Her friendly loan advisor contacted her a few days after the funeral to see if she was interested in consolidating her loans.
Debt consolidation is one of the best ways to save money on weekly expenses, as we can structure the new loan so it costs a lot less than the existing loans put together.
We got approval for a debt consolidation loan for Jadya, plus an extra top to the loan to cover some additional expenses.
Overall, she ended up saving $200 per week on her loan repayments!
The best part is that she can pay extra towards the loan if she has extra cash.
To find out how Loansmart can save you money on your loan repayments, get in touch with our friendly team today!
