Back to list

Real Stories: What happened when Lucy took out a car loan she couldn’t afford to repay

Lucy approached a car yard to buy a car, and the car yard approved the loan using one of their financial products. However, Lucy was on parenting payments, she hadn't worked for a long time, and didn't have the capacity to pay off any loan.

Because she lived in one of the many funded areas, Lucy approached Better Place Australia free financial counselling for help to get out of the mess that had been created.

Our financial counsellor, Christine, spent time investigating to see where it had all gone wrong, including why the car yard approved a loan for her in the first place when she didn't have the capacity to repay it.

Watch the case study video.

For a more detailed account, listen to the case study podcast.

Financial First Aid free financial counselling

Financial First Aid free financial counselling and mediation services are available to people who have money troubles and live in one of the many government funded areas across Victoria. First step is to enquire online or request an appointment.

For more real stories about people with financial troubles and how Financial First Aid financial counsellors mediated for them, go to the Financial First Aid website home page and scroll down to Real Stories.