Karen was a 34 year old teacher… “Looking back now I can't believe I had managed to build up £41,000 of unsecured debt. Being a single-parent I could only work part-time, needing the flexibility to look after my 6 year old daughter, Jessica. We lived in a small 2-bed house, but the rent alone took most of my income.

My debt had become so serious that I used to lie awake at night worrying about it, and even my work as a teacher was being affected. I felt like a complete failure. So now, five years on and completely debt free, I feel like I've been given a second chance and can make a fresh start.”

How an IVA gave Karen a fresh start… Her creditors agreed to set up an IVA over 5 years, with Karen making regular monthly payments she could afford, and in return they agreed to cancel 70% of her total debt. This meant that she only had to pay back £12,500 of the £41,000 owed. She was then completely debt free and able to move on with her life.

If you have a debt problem, or would simply like to discuss the options available to you, then contact us now for immediate help.

Michelle was a 40 year old receptionist… “My husband and I were worried sick about how much money we owed. He had been out of work for nearly a year and a half due to health problems, and during that time we had managed to build up £75,000 worth of unsecured debt by borrowing to meet our living expenses.

We were scared of losing our home, and I don't know what we would have done if it hadn't been for all the help in setting up an IVA. Just 6 months later all our debts had been cleared and my husband was working again. I felt like a huge burden had been lifted from our shoulders.”

How an IVA cleared their debt problems… Using an IVA their creditors were prepared to write off £55,000 of their overall debt, meaning Michelle and her husband only had to pay the remaining £20,000. They were able to re-mortgage their house and release this amount in full, which was paid into the IVA as a lump sum and immediately cleared all their debts.

If you have a debt problem, or would simply like to discuss the options available to you, then contact us now for immediate help.

Alan was a 29 year old married man… “After getting married we bought a small house in Edinburgh and almost immediately became parents. Not realising just how expensive children can be we ran up quite a few bills, but if I am totally honest we had probably been living beyond our means for a couple of years.

Having already taken advantage of a number of credit cards and loans, I realised I was in trouble when I had to take out another loan just to cover the minimum repayments on everything. At this point I had debts totalling £30,000 and an income of £980 per month. Fast approaching my 30th birthday and with a young family to look after, I suddenly realised there was no way of repaying everything.”

How a Protected Trust Deed gave him a fresh start… Alan was recommended a Protected Trust Deed, and with the proposal accepted by his creditors, he made one affordable monthly payment of £230 for 36 months. The total repaid was £8,280 which meant his creditors wrote off the remaining 72%. At the end of this period he was completely debt free, allowing him to look forward to the future without the worry of debt.

If you have a debt problem, or would simply like to discuss the options available to you, then contact us now for immediate help.

Richard was a 33 year old electrician… “House prices were so expensive, the only way I could get onto the property ladder was to buy an old house in need of modernisation. Despite doing much of the work myself, I still had to use my credit cards and personal loans to carry out the renovations.

However, I soon realised I had overspent when I could no longer afford all the monthly repayments. I was still earning good money at work but it just wasn’t enough. That’s when the threatening letters and phone calls demanding money started. Finally I turned for help, which ended up being the best thing I ever did.”

How Debt Consolidation was used… Despite Richard having run up more than £29,000 in unsecured debt, it was possible to consolidate all his existing credit card and personal loan debts into one, more than halving the amount he was paying out each month. This gave him the breathing space he needed.

If you have a debt problem, or would simply like to discuss the options available to you, then contact us now for immediate help.

Mark and Denise were married with two children aged 14 and 12… “We lived in a comfortable family home which was on a 2 year fixed rate deal, so we knew exactly what we had to pay each month. Over the last few years though we had built up nearly £37,000 on credit cards and loans – putting our children through school and buying Denise a new car.

We were just about managing when the fixed rate mortgage deal came to an end, just as interest rates were rising. Our monthly payments suddenly shot up, and despite getting the best new deal available, we were still around £300 short each month. I’ve never been so worried, and could see everything we had worked so hard for being taken away. Thank goodness everything was sorted out so quickly.”

How Debt Consolidation helped… By consolidating their unsecured debt, Mark and Denise were quickly able to reduce their monthly payments from £1,600 per month to just over £1,100 per month. It took less than 3 weeks to arrange so they didn’t go any further into debt, and nobody ever found out they were having problems. Instead, they could immediately start enjoying their lives again.

If you have a debt problem, or would simply like to discuss the options available to you, then contact us now for immediate help.

David was a 55 year old office worker… “I enjoyed a reasonably good job in town which meant we didn’t struggle for money. Having just paid for our daughter’s wedding though we had run up quite a bill, but I figured I could pay back the overdraft, loan and credit cards over the rest of the year.

It was then that I got made redundant, and having not worked there for long meant my redundancy pay was limited. To make matters worse my wife had a car accident and it took a long time to get a new job whilst looking after her and the kids. I thought we were going to lose everything, including our house.”

How a Remortgage resolved his debt problems… By the time David called for advice he had unsecured debts of more than £28,000, and was making monthly payments of £1,700 including his mortgage. The best solution for him was to remortgage his house in order to reduce these monthly payments.

The remortgage released a lump sum of £30,000 which was enough to pay off his credit cards, loan and overdraft so that his only outgoing moving forward was his mortgage. This meant he could reduce his monthly payments from £1,700 to £980.

If you have a debt problem, or would simply like to discuss the options available to you, then contact us now for immediate help.

Rani was a 26 year old retail assistant… “It all started when I got my first credit card. It was so easy to sign up for but then I just couldn't stop spending. It wasn't long before I'd run it up to its limit on clothes and going out. I couldn't really afford to pay it off but then it seemed simple enough to do a 0% balance transfer to a new card. When that one reached the limit I started using the old one again.

Eventually a friend at work recommended EmployeeDebtline, but by this time I had nearly £8,500 on credit cards, an overdraft of £1,500 and a personal loan for a further £2,000. It's all back on track now but I wish I'd turned for help earlier.”

How a Debt Management Plan got her back on track… Given Rani’s total debts of £12,000 were not too excessive, the best way forward was to set up a Debt Management Plan. This would reduce her monthly payments and allow her some breathing space to get back in control of her expenditure.

Her total monthly payments before setting up the Debt Management Plan were £600. Afterwards they were reduced to £150, although she ended up paying this for a much longer period of time.

If you have a debt problem, or would simply like to discuss the options available to you, then contact us now for immediate help.

Brian was a 51 year old on incapacity benefit… “Due to a lower-back problem I had been on Incapacity Benefit for a couple of years. I then got divorced and had to move into local authority rented accommodation. My only income was from the Incapacity Benefit and Income Support, so basic living expenses alone meant I had built up nearly £64,000 in loan and credit card debts.

The stress of receiving constant final demands and telephone calls from all the loan and credit card companies was actually making me ill. I knew there was little chance of being able to work for a while, which meant there was no prospect of ever being able to clear my debts. Looking back now though, I’m so glad I got good advice and wiped the slate clean.”

How declaring himself bankrupt proved a positive solution… Brian’s situation meant he simply had no money left each month to meet even the minimum monthly payments of an IVA or Debt Management Plan. His reliance on Incapacity Benefit and Income Support made it almost impossible to secure a Debt Consolidation loan, and there was no way of affording the monthly repayments even if he could.

The only sensible and practical solution was for Brian to declare himself bankrupt. The biggest problem was pulling together the £485 fee payable to the court, but having done so his entire debt was immediately written off. He was discharged from bankruptcy 12 months later, giving him a totally fresh start, although borrowing money for a further five years would still be difficult.

If you have a debt problem, or would simply like to discuss the options available to you, then contact us now for immediate help.