Self employed teacher Katie’s lesson in managing defaults

Katie Batterham is an experienced teacher who has recently been through a divorce. Her solicitor poorly advised her to hold off paying any debt that she and her ex-husband had incurred until after the divorce was finalised. This unfortunately resulted in her credit file having 8 defaults. Luckily for her, RedZed had a solution ready.

RedZed Supporting the Lighthouse Foundation’s 4UP Day

RedZed were delighted to support the Lighthouse Foundation’ s inaugural #4UpDay on June 14.

The fundraiser raised $700,099 in just 24 hours, smashing the target of $576,000 and setting a new fundraising record for Lighthouse.

Of the $700,000 raised RedZed and RedZed staff were proud to contribute just under $45,000.

So, where do lenders get their money from?

One of the trickier parts of getting your head around lending options is understanding how the different models are funded. For specialised lenders like RedZed, we’re not just a little different to the traditional models – we’re a lot different.

A new strategy for this driven self-employed duo

Vincent and Hayley Anderson are self-employed. Vincent is a mechanic and Hayley does all of the bookkeeping. Their business suffered a downturn a couple of years ago. To cover supply costs and day-to-day operations, Vincent and Hayley resorted to using their personal & business credit cards. This quickly exhausted their credit limits resulting in further unsecured facilities being sourced. Whilst their business has recovered Vincent and Hayley are finding it difficult to cover the high monthly costs of servicing their home loan as well as all their credit cards.

How RedZed helped plan a holiday for Jules & Mark.

This year, Julia and Mark Wallace organised a special visit to the grandparents in the UK for Christmas. However in their excitement, their holiday spending got away from them. The plan was to steadily pay off their credit cards from January to June and only use the credit cards in case of emergency. However, half way through paying off their debt, Julia fell ill and had to take two months of unpaid leave.

I’m self employed but can’t get a loan at the bank, why?

If you’re any one of the 2.4 million self employed Aussies, you’ve no doubt already had a loan application knocked back by the banks. And while the big red ‘DENIED’ stamp can seem intimidating, the truth is you’re part of a huge market segment ignored by such narrow lending criteria.