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Debt help

Julia

Julia has been able to stick to her budget which was devised with the help of The Debt Advisor staff and make regular repayments. Her creditors have now stopped chasing her as her affordable monthly repayment has been paid on time each month

Customer Background

Julia approached The Debt Advisor with £24,000 worth of debts. She had been unable to work for many years because two of her three children require full time care as they suffer from severe autism. Her ex-partner had also been living in the family home without contributing to bills and expenses, leaving Julia responsible for a number of arrears.

As time went onJulia found it more difficult to meet her minimum repayments to the credit, and struggled to meet her rent and utility obligations. She had no choice but to seek financial advice as she couldn’t return to work. Julia buried her head further in the sand as she became more and more anxious about her financial obligations, especially as she was receiving threatening letters from creditors and regular phone calls from companies demanding payment.

Julia contacted The Debt Advisor and spoke to our team who understood her issues and her worries, and quickly identified that there would be a solution to her problems. Julia, with the help of our team, decided that an IVA would be the best option as it would allow Julia to make one, affordable monthly repayment to her debts for 5 years, with any remaining debt left at the end of the arrangement written off. The proposal was completed within two weeks and the arrangement was accepted by her creditors with Julia obligated to repay just one-third of her total debt.

Julia has been able to stick to her budget which was devised with the help of The Debt Advisor staff and make regular repayments. Her creditors have now stopped chasing her as her affordable monthly repayment has been paid on time each month.

Situation before

Total unsecured debt: £22,857
Surplus income: £113
Approximate monthly commitment to creditors: £440
Monthly shortfall: £328

Situation after

60 payments total (to be repaid): £10,783
New monthly payment: £112.59
Dividend to creditors (pence in the £) : £0.33

Debt levels before and after

Julia

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There is an alternative free-to-consumer debt services from the Money Helper.

The Debt Advisor Accreditations

There are alternative free-to-consumer debt services from the Money Helper.

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The Debt Advisor has a long and rich history of helping people and companies get past their debt problems. We welcome people to get acquainted with our company, history, team and to listen to the stories from the people we have helped.

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18-22 Lloyd Street, Manchester, M2 5WA

Monday to Thursday: 9:00 am – 7:30 pm
Friday: 9:00 am – 3:30 pm

Company Registration: 06248441 | The Debt Advisor Limited is Authorised and regulated by the Financial Conduct Authority Reg No: 659920.

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 and explain the available options. If it is appropriate to refer you to one of our trusted providers for a solution, we may get a fee for introducing you, or for the preparatory work we complete. Fees are payable if ongoing services are provided.

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