Amount of debt prior to IVA: £14,244
Monthly payment into IVA: £150
Original debt solution: Debt management plan
Amount of debt reduction if IVA completes estimated at 61%.
GR had debts in excess of £14,000 which were unmanageable after her husband sadly passed away. Although retired, GR had sufficient income to make contributions into an IVA.
Debts had mounted from Loans, Credit Cards, Catologues and Over-draft.
Her husband passed away a few years earlier and due to his lack of income, GR has struggled
to keep up her payments to creditors. She started a Debt Management Plan but realised
her creditors were receiving very little and her debt level didn’t seem to be reducing. Not all creditors
in the plan had frozen interest and charges.
In the IVA, GR's monthly payments were reduced to an affordable level.
You can call us on 0800 043 2424 or 0161 787 3400 to dicuss your situation. Alternatively you may wish to try our IVA calcuator to see which solution may be appropriate for you.