Through no fault of her own, Tanya* (age 50) was in a really tough spot financially. She says she had never been in debt in her life, but then a partner left her with an outstanding loan that wasn’t hers.
As the single mother of three children (two of who still live at home), she felt overwhelmed by the ever-increasing debt. “I’m normally really good at budgeting, but I just couldn’t get on top of the debt – especially with all the interest,” she explains.
Tanya turned to Pakuranga and Howick Budgeting Service for ongoing advice, where one of their financial advisors suggested she apply to Ngā Tāngata Microfinance for a GetControl Debt Relief Loan.
“I was really freaking out, but as soon as I heard I’d been accepted by Ngā Tāngata for a loan, it took all the pressure off – and all the anger that I’d been dumped with this debt. It was awesome,” she says.
Tanya elected to pay off $25 a week and has since paid off the loan. “It was manageable with just a small amount a week. And not having all that interest continuing to add up was amazing. I absolutely recommend it to anyone who finds themselves in a tough situation – it was the best thing I’ve ever done.”
“Until then, I’d never been in debt in my life. It was really scary and I felt a huge amount of worry and guilt. I’m in a better place now – it was a massive weight off my shoulders!”
Note: all names including those of the loan companies have been changed. Any re-publishing of these case studies need the permission of Ngā Tāngata Microfinance Ltd.