Ms W was struggling to pay creditors £470 per month to stay afloat with her debt repayments. She contacted us and we discussed her options. She decided to enter into an IVA. On acceptance of her IVA proposal, her monthly repayments were reduced down to a more affordable £160 per month. After 60 monthly payments and successful completion of her IVA, she will be debt free, having repaid 64% of her debts and writing off the remaining 36%.
Ms H is a single mother who was having difficulty making ends meet. Her creditor minimum monthly repayments totalled £560 per month and she couldn't fulfill the payments. After speaking to us, she decided that an IVA was her best course of action and chose to proceed with that route. Her IVA proposal was accepted and her monthly payments were reduced down to £250 monthly which made her finances much more manageable. She completed her IVA 6 years later and her remaining debt was written off.
Mr M was paying creditors over £920 per month and getting nowhere with getting on top of his debts due to interest and charges. His situation was getting more difficult each month. He looked into doing an IVA and decided that it would be the best thing for him to deal with his spiralling debt problem. His proposal was accepted and his monthly repayments were lowered to £350 per month. 5 years later he successfully completed his IVA, and wrote off £12,000 off his overall debts.
Miss N was struggling to make monthly payments of £785 on approx £38,000 of debt. We reduced this figure to £260 per month in her IVA. In 60 months she will be finished her IVA and be free of her debts. A substantial amount of her debts will be written off on completion.
Our clients (a couple) were having difficulty keeping up with their monthly expenses and debt repayments. Together, they were paying more than £700 per month to their creditors. They both entered into IVAs paying creditors £300 per month.
The following year, they proposed to re-mortgage their home and raised £19,000. Their creditors accepted this sum as a full and final settlement towards their debts. A couple of months after this, their IVA was completed. They are now debt free!
Mr S was having problems paying creditors almost £1,550 every month. He contacted us in need of help. After discussing his situation, he decided to progress with an IVA and for 60 months, made reduced monthly payments of £440. The big drop in monthly outgoings helped him to get back on track with his finances. After the 60 months, he completed his IVA and was able to write off a considerable amount of the debt.
Mr and Mrs M were unable to meet their debt repayments of £2,500 per month. They were able to do a joint IVA. Their payments commenced at £350 per month.
A year later, they were able to remortgage, surrender endowment policies, and raise just over £47,000. Their creditors accepted this amount as a full and final settlement towards their debt and they completed their IVA.
Mr and Mrs G were struggling to keep up with very high debt repayments of £2,000 per month. After discussing their situation with us, they decided an IVA was their best option. They made monthly payments starting at £200 per month. After a period of 9 months the payments will increase to £350 per month for the remainder of the IVA. They have also agreed to introduce a lump sum payment of £20,000 from a remortgage.