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Kelly Ann approached The Debt Advisor struggling with debts totalling £34,500 which were in hers and her husband’s name. Their contractual payments exceeded £1,000 per month while her and her husband could only afford around £150. Both Kelly Ann and her husband were opposed to formal insolvency although the option was revisited frequently.

Kelly Ann’s comments

“Thank you so much for the way you conducted yourself throughout the whole process of negotiations with my creditors. You were so respectful and very understanding at this incredibly difficult time in my life and for that I can’t thank you enough. In fact prior to the sale you were very supportive – I am so pleased to see the outcome you have achieved. I think the Debt Advisor were an excellent company for the purpose of minimising our  repayments, but being debt free tops it all. Once again a HUGE thank you for all of your hard work”

situation before Full & Final Debt Management

Total Unsecured Debt

£34,500.00
As is often the case with debt issues, the stress of having £34,500 of debt which included 4 credit cards, 1 store card, a catalogue debt, a loan and an overdraft of £2,500 cause marital problems which resulted in Kelly Ann and her husband splitting a few years later.

During the time the debt management team looked after Kelly Ann and her husband’s debts, their monthly payment did increase but as a result of the split the payment had to reduce to £80. There was also a period, whilst Kelly Ann was waiting for their house to sell, where no payment could be afforded and TDA were able to get creditors to agree to freeze action.

approved Full & Final Debt Management solution

A debt management plan helped Kelly Ann and her husband reduce their debt from £34,500 to £28,444 over a period of 4 years. Following the sale of their marital property, Kelly Ann approached the Debt Management team to put forward discounted settlements to their creditors. The settlement offered was £14,222 and creditors all accepted the offer which gave them 50% return on their outstanding balances.

Kelly Ann and her husband have gone their separate ways but during the tough times, the debt management team were there to help deal with their debts and keep at bay, to a degree, financial pressure from their creditors. Both of them now have a chance to a new life without the burden of debt.