The ability to negotiate with creditors on debt and agree a full and final settlement via The Debt Advisor has lead to a couple going through a divorce being able to start their new lives Debt Free.
Unfortunately the burden of debt lead to the breakdown of marriage for one of our clients. As a result they turned to The Debt Advisor for advice and we helped them set up a reduced payment managed plan with their creditors while their marital home was in the process of being sold. Thankfully once the sale had gone through they were able to offer a limited amount of funds to attempt a full and final through us. Our team worked hard to achieve full and final settlements with their creditors and this has resulted in creditors accepting a settlement which means that 44% of our client’s unsecured debts are written off.
The Debt Advisor has over the years achieved outstanding results for clients using both informal and formal full and final settlements. In this case the debtors’ had total debts of £28,436.75 which our team were able to settle at £16,070, a discount of 44%.The couple are now able to start their new lives debt free and have commented “A huge thank you for all your hard work over the months. I think The Debt Advisor are an excellent company for the purpose of minimising our repayments – being debt free is so much better.”
Household debt is still a key issue with all customers that we encounter and for the UK in general. Beverley Budsworth, MD of The Debt Advisor is currently engaging with political parties in her local constituency to get their views on what is perhaps becoming a forgotten area in the General Election namely Household Debt. Beverley explained “We are looking at the next 5 year term and asking what plans the parties have to help the many millions of homeowners on interest only mortgages who face losing their properties. Also increasing numbers of individuals are struggling with arrears of priority debts including council tax and utilities and utilising food banks. Money is a daily conversation in households across the UK and I would like to see the next government take a strong stand on making life more bearable for those with limited incomes who have to survive on diminishing state handouts.”
If you are struggling with debt issues, whether these are business or personal debts, The Debt Advisor Ltd which incorporates The Business Debt Advisor can help. There are a range of solutions available which include both formal and informal solutions such as Debt Management Plans (DMP), Individual Voluntary Arrangements (IVA), Bankruptcy as well as solutions for Businesses. All debt solutions should be carefully considered. Call us today on 0800 0851 825 to speak with one of our advisors. If you’re calling from a mobile you can reach us on 0333 9999 600.
All debt solutions should be very carefully considered. Fees will be charged if a solution is taken in order for us to set up a plan and maintain it – all fees will be outlined during the consultation. Retained payment may place you further into arrears. It is likely that your ability to obtain further credit in the short term will be affected and this may also be the case over the medium to long term. Calls to our free phone number from mobile phones and other networks may be charged.
There is also free debt help and advice available through a variety of debt charities. For more information, we recommend you visit www.moneyadviceservice.org.uk.
The Debt Advisor is regulated by The Financial Conduct Authority Reg: 606669 and is also a member of the DRF and we adhere to their codes and standards.