We've helped Steve and Jane

Total Debts of; £47,991K
Agreed monthly IVA payments; £441

Steve is a 33-year-old soldier and his 34-year-old partner, Jane, is a full-time mum to their eight-year-old child. During their posting in Germany, both Steve and Jane were regular users of credit, which was perfectly within their means at that time. However it was only when they were posted home to the UK, with its higher cost of living, that they found their income didn’t stretch as far as they were used to and as a result, financial problems began. Jane tried to get herself a job to supplement the family’s income, but to was unsuccessful.

Becoming only too aware of their financial problems, and keen to sort them out as soon as possible, they tried to consolidate their outstanding loans and credit card bills. This wasn’t enough to resolve their financial difficulties and they soon found themselves borrowing even more credit to pay their loans and credit cards. They then sold their car, spoke to their creditors and even asked their families for help, but it just wasn’t enough; their finances were out of control to the tune of nearly £48,000. It was time to seek professional help, which is when they called us.

A professional debt adviser listened to them, looked at their financial circumstances and gave them their options. Steve and Jane agreed that the most appropriate solution for them was an Individual Voluntary Arrangement (IVA). With there help, we prepared an IVA proposal and offered their creditors monthly payments of £441 per month, an amount they could comfortably afford. This was accepted by their creditors, allowing Steve and Jane to get on with their lives, safe in the knowledge that at the end of a the IVA, they’ll be debt-free in 60 months