How Tom reduced his monthly repayments by $650 to manage cost of living pressures
Key results at a glance
Tom’s story
Tom
VictoriaDespite working full-time in sales, rising cost-of-living pressures and unexpected expenses left Tom overcommitted on credit. Juggling four payday loans totalling $5,500, his $850 monthly repayments became entirely unmanageable. After an initial hardship period, Tom still required assistance to get back on track. We successfully negotiated an extended Temporary Hardship Plan (THP) with his creditors, drastically reducing his monthly obligations to just $200 for three months to provide vital short-term financial relief.
Age
50 years
Employment status
Full-time employed
Location
Victoria
Household type
Single
Employment
Sales
The challenge
Despite working full-time in sales, the rising cost of living and unexpected expenses left Tom trapped in an unmanageable cycle of short-term debt.
Cost of living pressures
Rising everyday expenses and unexpected costs severely impacted Tom’s ability to keep up with his standard living requirements.
The payday loan trap
To stay afloat, Tom became overcommitted on credit, accumulating $5,500 across four separate payday loans.
Unsustainable repayments
Meeting the $850 per month minimum repayments across multiple lenders left Tom with virtually nothing to live on.
Ongoing financial strain
Even after completing his first THP in December, Tom was still struggling to get ahead and urgently needed an extension to avoid defaulting.
The solution
Comprehensive financial assessment
Creditor negotiation
Tailored short-term relief
Complete transparency
Why this approach worked
Getting started is easy and straightforward
Immediate cash flow relief
By negotiating the repayments down from $850 to $200 a month, we instantly freed up $650 in Tom’s monthly budget, allowing him to cover his essential living expenses without relying on more credit.
Crucial breathing space
Rather than defaulting on his payday loans, Tom was granted a three-month grace period by his creditors. This structured pause provides him with the time needed to stabilise his finances and plan his next steps without the stress of aggressive collection calls.
The result
Tom successfully entered his second Revive Temporary Hardship Plan, experiencing an immediate reduction in financial stress. All four creditors approved the heavily reduced payment plan, giving him three months of short-term relief to manage the rising cost of living and regain control of his budget.
Pausing high-interest payday loans
Losing his job left Nick, a single father, overwhelmed by $10,000 across eight debts – mostly high-interest payday loans – with $3,000 in monthly repayments he could no longer afford. With no assets and relying on Centrelink, traditional debt solutions weren’t the right fit. We secured a Temporary Hardship Pause, giving him a 3-month break from all repayments so he could focus on getting back into work.
Securing urgent hardship relief
Facing homelessness with two young children, Amy was stretched beyond her means on a part-time income supplemented by Centrelink. With a secured Swoosh loan and Afterpay debt totalling $4,000, she was paying $550 a month – money she simply didn’t have. We secured hardship approval from Swoosh, who don’t typically offer relief on secured debts, giving Amy the breathing room she needed to focus on finding a home for her family.
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After covid I was in real trouble financially. Revive along with United Care absolutely saves me. They were wonderful to deal with and changed my life. Thank you so much. Cannot recommend highly eniugh
Miss or Mrs Anette, She is very very very good good great to have communication with and she is meant to be in this platform as she knows the people situation and understands very well and her approach towards me was like a own sister and I loved it and the God bless her in her life and she have a best skill to approach and thank you so much for making my shoulder burdens lift to revive finances to and her. Thank you all.
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Warranee listened and it was for the first time someone was able to relieve my stress. Process was explained very well. The approach was without judgement and helpful
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