The cost of partner splits

What happens when there is debt involved in a partner split?

THE STORY:

Cassie and her new boyfriend John set up house borrowing money for their first TV and furniture. Because John had a bad credit rating, Cassie borrowed money for him with a personal loan in her name.

John also needed a car, mobile phone and insisted on buying the latest TV. All these were put in Cassie's name, as John already had bad credit and couldn't put things in his name. He had agreed to pay all these loans.

Several months later, the relationship took a turn for the worse and John moved out, taking with him the TV,  car and mobile phone, leaving Cassie legally liable for the payments and unable to pay the Debts.

THE PROBLEM:

Now Cassie was left with massive monthly loans to service on her own. Her spotless credit rating was in tatters and the debt collectors were calling.

THE MONEY:

Cassie's Wage per week $1050
Costs per week
Rent, living expenses, plus her own car costs $938
Cassie is being asked to pay $283 per week to cover John's Debts of $27,500 $283
Cassie's Total Costs $1221

She is behind $171 per week = $700 per month plus interest.

THE SOLUTION:

Fast Debt Help assisted Cassie with a 5 year Debt Agreement to repay her unsecured debts at $95 per week.

Cassie's Wage per week $1050
Costs per week
Rent, living expenses, plus her own car costs $938
Debt Agreement for 5 years $95
Cassie's Total Costs $1033

Cassie now has a small surplus of $17 per week -
she is well on her way to getting out of debt and looking forward to a brighter future.

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