Laura and her partner separated leaving her as a single mother with a young daughter responsible for all the household bills as well as the everyday costs of living such as food, clothing and travel costs.
Apart from dealing with the anxiety of separation and coping with all the bills on her own, Laura also had debts in her personal name which had arisen whilst trying to support her family.
Laura was referred to The Debt Advisor in April 2019 and after giving careful consideration to all her options, decided that a Debt Management Plan was the best solution for her.
She could afford to pay £200.00 per month to her creditors which at the time totaled £5,274.65.
situation before Debt Management
Total Unsecured Debt
Approximate monthly commitment to creditors
approved Debt Management solution
Laura’s creditors have all agreed to freeze interest and charges which meant that she could clear her debts in 2 years and 9 months.
All debt solutions should be very carefully considered. Please note, if you are struggling with debt issues and need advice on your options, we’ll take a look at your financial situation, explain the available options and if you decide to go ahead with a Trust Deed or in some cases an Individual Voluntary Arrangement we will put you in touch with one of our trusted providers who will set up and provide the ongoing management of that debt solution. If you then decide to use their services, we get a fee for introducing you, or for the preparatory work we complete, fees are payable if ongoing services are provided.