We've helped Nadine and Daniel

Total unsecured debts of; £104,000
Monthly credit payments were; £1917
Monthly IVA payments; £867

Like many of us these days, Nadine and Daniel, professionals from Cheshire, use credit to help with general spending, home improvements and to spread the cost of expensive purchases.

As their debt level started to increase, they took out consolidation loans to try and reduce their monthly credit repayments to amounts they could afford. Unfortunately, this was not successful. Not only did their debts increase, but they had to use their credit cards for general living expenses and to repay their other debts as well.

As a result, their debts continued to grow and they decided to seek professional advice. When they contacted the Accuma Group, their debts stood at £104,000, and their repayments were over £1,900 a month, an amount they just couldn’t afford.

Our advisor listened to Paul and Nadine, looked at their financial circumstances and outlined the options available to them. As homeowners, Nadine and Daniel decided not to go for bankruptcy, as they risked losing their home if they did; instead they opted for an Individual Voluntary Arrangement (IVA).

With their help, we were able to produce an IVA proposal, which their creditors subsequently accepted. The proposal allowed Nadine and Daniel to make one affordable monthly payment over 60 months. As soon as the IVA was accepted, all interest charges were frozen and creditors stopped their collection activities.

If this sounds like you, give us a call. We can help.