Debt Consolidation Savings Case Study

Talisha owned a property valued at $550,000 and owed $352,000 on her home loan. She also had a car loan owing $15,000 and two credit cards owing $33,000. Talisha called Fox Symes to see if they could consolidate her debts.

A snapshot of her loan accounts revealed the following:

Loan Account Balance Minimum Monthly Repayment
Home Loan 352,000 1,942
Car Loan 15,000 265
2 Credit Cards 33,000 660
Total $400,000 $2,867

Talisha's minimum monthly repayments on her loan accounts were $2,867 per month.

Fox Symes provided her with a new home loan.

Talisha's new home loan for $400,000 was provided by Fox Symes to allow her to consolidate all of her debts. This resulted in Talisha now making one repayment per month rather than multiple repayments.

Talisha's minimum monthly repayment with her new home loan was reduced from $2,867 per month to $1,839 to per month thus saving her $1,028 per month.

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