Everything came to a head when he was banned from driving due to being caught over the limit. This was the wake up call he needed.
Ben had around £45,000 of unsecured debt and realized he needed some help. He started on a debt management plan with The Debt Advisor “TDA” but lost his job and for a period could not afford to make payments to his creditors. He soon found another job although on a lower salary. The TDA team reassessed his financial position and recommended an IVA to deal with the balance of his debt totaling £39,185.
Ben’s IVA proposal was based on him paying £363pm for 60 months. This resulted in him proposing to pay £21,780 on £39,185 of debt, which was accepted by creditors.