Mr S ran into difficulty with a faulty vehicle acquired on a finance agreement that required a lot of expensive repair work, to the sum of £11,000. He entered into court proceedings with the dealership to try and settle this. Unfortunately during this time a lot of debt was accrued. His situation reached a point where he could no longer maintain his monthly repayments of £934 on the debts that were totalling £5,602, so he contacted us for advice. We were able to determine that he could realistically afford a payment of £80 per month towards his debts, after considering all other household expenses. He entered into a Debt Management Plan offering this amount as his new reduced payment to creditors.
Miss J used short term loans to make ends meet after a reduction in her working hours. Unfortunately repayments became a struggle, which led to her obtaining more short term loans to try and cover payments, which resulted in a stressful cycle of debt and high repayments. It wasn't long after this that the situation started to spiral. When she contacted us for help her debts were £3,700 with monthly payments of £1,040. We were able to determine that she could only realistically afford £300 per month towards her debts. She used this new repayment to pay towards her debts each month in a Debt Management Plan.
Mr P is a sole trader. His business has struggled over the past few years. During this period he used credit cards to supplement his income. His work has picked up a bit recently but his debts, now totalling £25,000 have become difficult to manage regardless. His monthly payments of £612 are simply not affordable. After speaking with Mr P we were able to determine that he could afford a payment of £111 per month, which his creditors accepted in a Debt Management Plan.
Mrs C built up debt after going through some marital problems. She struggled to maintain all household bills and expenses on her own and began using credit to compensate for this. She is now in a position where she cannot afford her monthly repayments of £216. After looking at her situation we were able to reduce these monthly payments to a more affordable amount of £80 per month with a Debt Management Plan.
Mr S could no longer afford monthly repayments totalling £847 on his debts of £30,170 after he was made redundant in his job and had to take a large pay decrease. After speaking with us we were able to work out an affordable repayment plan of £234 per month in a Debt Management Plan, where he will repay his debts in full or until his situation changes.
Ms D acquired the debts over a period of a few years. She was self employed and income was low, so struggled with her repayments. Then, more recently, after separating from her partner and with only one income coming into the househould, meeting the contracted debt repayments became even more difficult. She reached out to us at National Debt Relief for help and advice. We were able to lower her monthly debt repayments of £280 to a more affordable £150 per month in a Debt Management Plan.
Our client had a very tragic family bereavement which led to some time off from work and a reduced income. She relied on credit to get her through the very difficult time. She also used credit for funeral costs. She contacted us wanting to enter into a DMP. Her husband is currently in an IVA and she didnt want to go down this route or consider Bankruptcy. We worked out a new affordable payment for her, of £300 per month which she will use as her monthly DMP payment towards her debts.
Mr H had car trouble and obtained a loan to cover the cost of repairs. He then struggled with this loan, and acquired further debt to try and resolve his situation. Unfortunately this caused him to struggle further, payments were missed and his debt started to sprial out of control. He contacted us at National Debt Relief for some advice and to find out what options he had available. He decided that a DMP was his best course of action and proceeded with that, with new lower payments of £400 per month.
Mr S was struggling with debts of £25,000 and creditors were looking for payments of £603 per month. After being refused a remortgage he approached National Debt Relief for assistance. We were able to reduce these monthly payments to £350 per month.
Mr V was struggling to repay creditors £776 per month on £40,000 of loans and credit cards due to a dramatic decrease of income. After approaching National Debt Relief we reduced these payments to £200 monthly, giving this client the peace of mind to go on with his day to day living.
Mrs R could not afford the £1,116 monthly repayments on £46,000 of debt. She was unable to propose an IVA as she had approx £60,000 of equity on her property. She was also unable to remortgage due to income. She contacted us, at National Debt Relief and we set up a Debt Management Plan reducing the monthly payments to creditors from £1,116 to £380 per month.
Mr & Mrs C are struggling to repay creditors approx £5,980 per month. After contacting National Debt Relief we are proposing to reduce these monthly payments to £745 per month in a Debt Management Plan.