Debt Management Case Study
Debt management only solution for period of umemployed
| Debt: £12,950 | Was paying: £350/month |
| Now paying: £180/month | |
| This client had affordable credit repayments until her husband lost his job, halving the household income. Two months later their savings were running low so they decided to look for a consolidation loan to reduce monthly payments. They were for refused for loans as their income was too low and they were not homeowners. Soon they would start to miss payments and needed a solution. The client looked an IVAs but her husband would be returning to work and an IVA would be too permanent as their circumstances would be changing. Debt Management was the right solution for them because the payments were flexible and could be increased when they were both working again. |
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