Ian & Nicole
customer background
Due to the ill health of Nicole’s mother, Ian & Nicole have faced significant costs. Her mother had been diagnosed with lung cancer and they had paid for health care and also visits to the Philippines where she lived. Unfortunately Nicole’s Mum passed away and Nicole covered her funeral costs but had to use her credit cards.
When they returned, they worked long hours to generate extra funds to try and pay off their debt as they realized their debts which were in excess of £30,000 were spiraling out of control. The long hours left them exhausted and they both suffered bouts of ill health. A friend suggested they seek help and were referred to the TDA team.
situation before IVA
Total Unsecured Debt
Surplus income
Monthly commitment to creditors
Shortfall
approved IVA solution
Monthly contributions:
21 x £290
39 x £391 (when a priority debt had been repaid)
Dividend accepted by creditors (per £)
Total contributions
Final dividend (per £)