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Broker Success Story: Debt Consolidation & Refinance

debt consol

Paying off large amounts of debt can be difficult, but what happens when you’re hit with it unexpectedly?

For the broker’s customer, paying off $130,000 worth of overdue tax debt came as a surprise but with the help of Bluestone, was offered a solution by refinancing an existing home loan.

Read about the broker’s experience with Bluestone below.

What was the customer’s situation and how did Bluestone help?

The customer was a self-employed tradesman and had a current home loan with a major lender. Due to inaccurate decisions made by a previous accountant, he had an overdue tax amount of $130,000+. Fortunately, the customer had sufficient equity in his home to be able to refinance, meaning the tax debt was repaid with some money put aside for renovations. 

What made this deal unique or challenging?

The overdue tax amount was large and unexpected.

What product did your customer receive?

Near Prime

Tell us about your experience working with Bluestone

The deal was initially discussed with the BDM who confirmed the appropriate product and required documentation. The loan was approved one day after it was submitted and documents were sent to the client two days after approval. The only delay in the whole process was the time required for the client to obtain a negotiated payout figure with the ATO. Otherwise the whole process with Bluestone was seamless. 

Anything else you’d like us to know about the deal or your experience with Bluestone?

The whole process was relatively simple and quick. Policy is clearly written and my BDM is easily contactable and extremely knowledgeable.

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