How Kristy & John saved 55% on their debt and kept their family home
Key results at a glance
Kristy and John’s story
Kristy & John
Western AustraliaWhen John suffered a nervous breakdown and couldn't work, Kristy struggled to cover the mortgage and living expenses. Relying on high-interest credit cards, their debt grew to over $70,000. Unable to refinance due to limited equity, we helped them set up a Part 9 Debt Agreement to consolidate their debts into one affordable monthly payment.
Age
Unspecified
Employment status
Full-time employed
Location
Western Australia
Household type
Couple, 3 dependents
Employment
One full-time, one off work
The challenge
Despite Kristy working full-time, an unexpected health crisis and compounding financial pressures left the family trapped in high-interest debt with their home on the line.
Unexpected hardship
John suffered a severe nervous breakdown, leaving him unable to work and reducing the household to a single income.
Compounding expenses
The high cost of living for a family of five, combined with ongoing mortgage obligations, forced them to rely heavily on credit cards to survive.
High-interest debt
The reliance on credit cards caused their unsecured debt to rapidly balloon to over $70,000.
Risk to family home
Because they had limited equity in their property, refinancing was not an option, putting their family home at severe risk of having to be sold to cover debts.
The solution
Comprehensive financial assessment
Practical guidance
Tailored solutions
Complete transparency
Why this approach worked
Getting started is easy and straightforward
Significant debt reduction
By establishing a Part 9 Debt Agreement, we successfully negotiated their total obligations down from $70,000 to $31,500, instantly removing $38,500 (a 55% reduction) of financial burden.
Asset protection and simplified management
Instead of drowning in high-interest credit card fees, Kristy and John now make a single, affordable payment of $550 a month. Most importantly, this strategy allowed them to entirely avoid selling their family home.
The result
Within 6 weeks of engaging with Revive Financial, Emma successfully consolidated all her debts and experienced immediate financial relief. The outcomes exceeded her expectations in both cash flow improvement and long-term savings.
Additional benefits
Kept the family home for their three children, avoiding the disruption of a forced sale.
Drastically reduced financial stress, allowing John the peace of mind needed to properly recover.
Eliminated compounding credit card interest entirely.
Consolidated all debts into one $550 monthly payment.
Consolidating single mother’s debt
After losing her fiancé, Sarah was left with loans, mounting childcare costs, medical expenses, and the added pressure of COVID’s impact on the farming industry – leaving her $40,000 in debt across five creditors. As a single mum working full-time, she was exhausted from juggling it all alone. We consolidated her debts into a single affordable plan through a Part 9 Debt Agreement, reducing her total debt by $25,000 and helping her avoid bankruptcy.
Protecting the family home
When serious health complications forced Mark to reduce his working hours, medical costs piled on top of his mortgage and family expenses, leaving him with over $46,000 in debt across four creditors. Worried about losing his home equity, we set up a Part 9 Debt Agreement to consolidate everything into a single affordable payment, reducing his total debt by $17,000 and protecting his family home.
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