We've helped Christine

Total unsecured debts of; £49,000
Monthly credit payments were; £1335
Agreed monthly IVA payments; £361

Christine, a 32 year old from Kent, had used loans and credit cards for a number of years for general living expenses and would, occasionally, consolidate them into loans to try and keep her payments to a minimum.

Although working full time in a supermarket, this wasn’t for her; what she really wanted to do was start her own business as a beautician. When she felt the time was right, she launched her new enterprise, purchasing the equipment she needed on credit.

As time went on, however, although the enthusiasm was there, the business wasn’t and it eventually failed and, in the process, she’d run up substantial debts trying to establish and support it. Fortunately, she was able to get another full time job.

By the time she contacted us, she had debts of nearly £50,000. Her monthly payments were £1,335, more than her monthly salary. Our debt advisor listened to her and outlined her options. As a result, she was advised an Individual Voluntary Arrangement (IVA) as the best option for resolving her financial problems.

With Christine’s help, we were able to prepare an IVA proposal, which explained to her creditors the problems she’d faced in trying to meet her monthly repayments, and what her plans were to resolve her financial commitments. 

The IVA was accepted, and Christine paid off some of her debts with her savings then made monthly payments of £361 a month for 60 months. All creditor calls stopped and all interest and charges were frozen. As a result Christine is now able to live within her means, knowing that, in the near future, she will be debt-free.