Case study: what is BrokerBase?

Designed to quickly confirm whether debt mediation with United Debt Assist can help turn a No into a Yes, BrokerBase could help you to write and convert more loans.

United Debt Assist consists of a team of professional debt mediators, here to help customers experiencing financial difficulty to achieve reduced settlements with their creditors.

If you’re working with clients who may be suitable for debt mediation, UDA have launched BrokerBase – an easy to use tool that instantly assesses whether UDA can negotiate on your client’s debt.

 

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Having recently reduced a staggering debt load by over $100k for a couple in their 50’s, UDA work with their referrers to assist clients and achieve exceptional customer outcomes.

In this case, the couple had accumulated a considerable debt load with multiple creditors mainly due to a work injury in the husband’s past. They were facing the prospect of losing their house and in addition to this, their daughter had recently been diagnosed with Multiple Sclerosis. They began helping pay for her medical treatment and took time off work to care for her, turning to credit cards and loans to get by. On top of everything, they then contributed towards her wedding.

Once things settled down, the husband resumed his carpentry business and the wife went back to working at the supermarket, but they still had multiple debts which they were unable to manage. They were turned away by two brokers who weren’t sure where to place them due to their level of debt.

 

Their third and final broker working with Bluestone ran the numbers through UDA’s newly-launched Broker Base.

The large debt load, lack of equity and considerably unfortunate life event qualified for UDA to commence mediation with the client’s creditors.

Prior to mediation, the clients had amassed over $250k of unsecured debt across various credit cards, car loans and a business overdraft. After mediation, over $100k had been reduced from the debt load, lowering the loan amount, in turn reducing the loan to value ratio, interest rate and monthly repayments.

 

Debt mediation is a tool for brokers to write and convert more loans.

With Australia’s rising cost of living and the second highest household debt-to-income ratios, the demand for reputable mediators who can produce strong results has never been more vital.

The BrokerBase will estimate the potential debt reduction and mediation fee in just 3-5 minutes. If you are actively working with clients in the specialist lending space and would like to increase your conversion rate to provide excellent client outcomes, the Broker Base is the tool for you. To access BrokerBase, simply fill your details into the form via the button below.

Disclaimer: The information contained in this article is general in nature and does not take into account your personal objectives, financial situation or requirements. Therefore, please consider whether the information is appropriate to your circumstance before acting on it, and seek independent advice from a finance or legal professional if necessary.

How to assist a client with ATO debt

Do you have a client with a large ATO debt? United Debt Assist is excited to announce our partnership with a specialised tax debt negotiator who has formerly worked at the ATO and brings insights and knowledge which help facilitate optimal financial outcomes for all...

Is debt mediation right for your client?

It can be difficult to assess whether your client meets the general criteria of debt mediation – however, you may be surprised by what is possible. We see people from all backgrounds finding themselves with significant debt loads, all for a variety of reasons. On the...

Debt mediation case study with Bluestone mortgages

Join United Debt Assist General Manager, Daniel Newell, as he discusses how using the flexible lending solutions offered by Bluestone mortgages combined with debt mediation, can help brokers write and win deals they might have been unable to otherwise.If you have a...

Is debt mediation the key to avoiding insolvency?

Australian consumers are increasingly turning to bankruptcy or insolvency agreements to solve their financial woes.The problem with this, is that many of these consumers are not adequately informed of their options, or of the lasting effects of this course of action....

Dealing with the festive credit hangover

Who doesn’t like a bargain?   Sales are always popular with consumers. Whether it be end of financial year, tax time or boxing day, these are boom times for businesses to offload items from their shelves and increase their bottom line.  As we enter the festive...
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