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customer background

Abbas had previously had a good job working in industry as a Chartered Accountant. Abbas was referred to TDA in January 2011 after finding himself without a job and with a debt level of £16,977. Most of this related to credit cards on which interest charges each month exceeded £400 per month.

As Abbas was looking for permanent employment, and his income was erratic, all he could afford was £200 per month. A debt management enabled him to get a payment plan set up quickly with his creditors whilst he sought to secure better earnings.

situation before Debt Management

Total Unsecured Debt


Total Unsecured Debt


Surplus Income


Approximate monthly commitment to creditors




approved Debt Management solution

Abbas’s creditors were very supportive and all agreed to freeze interest and charges. His payments did increase to £250 per month and with the help and support of the TDA team, Abbas was able to clear his debts in full over a period of 4 years.

Abbas is now debt free and aged 39 he is able to look forward to managing his monthly budgets without having to worry about historic debt.

Monthly contributions:
13 months at £380
17 months at £280
30 months at £415


Mortgage balance


Equity to be introduced

In the fourth year of the arrangement, an offer of remortgage was unattainable. As there was equity in the property, an alternative was approved by creditors to extend the IVA for 12 months during which the client paid additional monthly contributions as detailed below.

Additional contributions ( in lieu of equity unable to be realised ) 12 x £415