Susan
Debt Value: $37,668
My financial difficulties began when a close member of my family passed away. I took out a high-interest loan with short repayment terms so I could travel overseas and help pay for the funeral. At the time, I wasn’t thinking about how this would affect me in the future. Soon after, I began to struggle to keep up with the repayments, and I had to borrow or top up other loans to stay afloat. Over time, I became over-committed with too many debts, and I started to fall behind. My credit score dropped, and I was unable to obtain further assistance from other lenders. More recently I've moved house which also involved heavy costs relating to rent and bond money. I tried budgeting, but I continued to struggle. I have now considered all my options, and I believe that the debt agreement is the best solution for me moving forward. NOTE: Debtor and partner keep separate finances. NOTE: Other household expenses are for compulsory super contributions.
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