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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




approved IVA solution

Monthly contributions:
21 x £290
39 x £391 (when a priority debt had been repaid)


Dividend accepted by creditors (per £)

Two years into the IVA, Ian and Nicole again suffered from ill health, and Ian ultimately had to give up work. The Debt Advisor proposed a variation which the creditors accepted allowing the IVA to be completed on the payments received to date. In total, the creditors received 14p/£ compared to 54p/£ originally agreed.

Total contributions


Final dividend (per £)