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IVA Case examples

Client Name: Ms W
Debt Amount: £15,500Debt written off: £5,900

Ms W was struggling to pay creditors £470 per month to stay afloat with her debts. She contacted us and we discussed her options. She decided to enter into an IVA. Her monthly payments were reduced down to £160 per month. After 60 monthly payments and successful completion of her IVA, she will be debt free.

Percentage repaid: 64%Percentage written off: 36%

Client Name: Ms H
Debt Amount: £19,000Debt written off: £4,000

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 chose to do an IVA. In the IVA 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.

Percentage repaid: 79%Percentage written off: 21%

Client Name: Mr K
Debt Amount: £25,000Debt written off: £10,600

Mr K could not meet his monthly payments to his creditors. The payments were totalling approx £600 per month. He decided that he needed help and contacted us. He opted for an IVA and we managed to reduce his payments down to £240 per month. He made this reduced payment for 60 months after which he finished his IVA and had the remainder of his debt cleared, so he could start with debt free living.

Percentage repaid: 58%Percentage written off: 42%

Client Name: Mr M
Debt Amount: £33,000Debt written off: £12,000

Mr M was paying creditors over £920 per month and getting nowhere fast with getting on top of his debts. 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.

Percentage repaid: 64%Percentage written off: 36%

Client Name: Miss N
Debt Amount: £38,000Debt written off: £22,400

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 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.

Percentage repaid: 41%Percentage written off: 59%

Client Name: Mr S and Miss W
Debt Amount: £46,000Debt written off: £23,700

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 and they are now debt free!

Percentage repaid: 49%Percentage written off: 51%

Client Name: Mr S
Debt Amount: £59,000Debt written off: £32,600

Mr S was having problems paying creditors almost £1,550 every month. He contact us in need of help. He progressed 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.

Percentage repaid: 45%Percentage written off: 55%

Client Name: Mr and Mrs M
Debt Amount: £106,000Debt written off: £54,450

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.

Percentage repaid: 49%Percentage written off: 51%

Client Name: Mr and Mrs G
Debt Amount: £98,484Debt written off: £58,834

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 started as £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.

Percentage repaid: 49%Percentage written off: 51%

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Client Review

Pressure release realised - at last!

Star rating : 5/5

I had a pleasant reception, a simple concern and evaluation of my situation, an explanation of what could be done, when and how best a plan could be implemented that I could afford. THE RELIEF WAS AMAZING, back to some kind of normality.

I have been under the wing of National Debt Relief for almost 2 years and the attention and assistance provided has been just perfect. We are now looking at a mutually acceptable resolution to my financial situation in the near future. In brief, I would totally recommend the services of National Debt Relief. You will not be disappointed, to quote an old saying "I wish I had done it sooner--much sooner".

Written on 18/09/2013,
Review Centre

Client Testimonial

Absolutely Fantastic

Absolutely fantastic from start to finish! Very efficient and had my iva completed within 4 weeks from initial phone call!

Client Testimonial

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