Ryan's debt story

Find out how Ryan achieved financial freedom after he suddenly lost his job and was left grappling with credit card debt

Ryan’s background

Ryan’s financial situation changed suddenly and unexpectedly. Employed in the security industry, his life took an unexpected turn when a work-related incident led to the loss of his job. As the main income earner in his household and with an outstanding credit card balance of $5,000, Ryan and his wife Lisa quickly found themselves under huge financial strain.

The debt

With Ryan jobless, he and Lisa struggled to maintain their financial stability. Keeping up with credit card repayments became more and more difficult. Despite the challenges, Ryan chose not to give up. He initially explored other avenues, such as using a lump sum compensation payout towards the credit card debt. However, ongoing legal proceedings over further compensation left Ryan and Lisa in a state of financial uncertainty.

Journey with Pioneer

Lisa was our first point of contact at Pioneer. Because the couple engaged early with our team, we were able to understand Ryan and Lisa’s needs and work through their situation together to get them back on track to financial freedom.

Maria, their dedicated Account Manager, played a key role in guiding Lisa and Ryan through the process. She approached things the Pioneer way, with genuine care and compassion. Like all our people, Maria focused on listening without judging. Even with their tough financial predicament, she was inspired to find real, workable solutions to help the couple end their debt stress.

"The Pioneer staff cared about our circumstances. They listened and never once judged us or made us feel ashamed due to the financial position we found ourselves in."

Flexible solutions

Pioneer offered Ryan and Lisa a range of options to resolve their debt challenges and ease the pressure. We proposed two options: an offer to settle and close the account, or a Payment Arrangement (PA) with an interest rate reduction. They selected the PA option, as it better aligned with their situation. Throughout their journey, Maria worked closely with Ryan and Lisa, remaining flexible and responsive. This way, we could plan the next best steps to end their debt stress.

The outcome

Through tailored support and flexible options, Ryan and Lisa achieved financial freedom in just over two years. With the conclusion of their compensation proceedings, they were able to overcome the challenges they faced. Their customised Payment Arrangement, coupled with Pioneer's supportive approach, proved to be the stepping stone towards a brighter financial future.

“We hope they continue helping people like us who need compassion and understanding from time to time.”

How Pioneer helped Ryan achieve financial freedom

By engaging early with Pioneer, Ryan and Lisa were able to create a plan with their assigned Account Manager that suited their needs and led to a successful outcome
Ryan and Lisa found comfort in Pioneer's non-judgmental approach, which made them feel supported and at ease during a challenging time
The Payment Arrangement with interest rate reduction empowered Ryan and Lisa to regain control over their financial situation

This account was closed in March 2023. Names in this story have been changed to protect the privacy and confidentiality of individuals involved.