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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

£5,275.00

Surplus Income

£200.00

Approximate monthly commitment to creditors

£430.00

Shortfall

£-230.00

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.