Debt Management Case Study
Remortgage not a option for Pensioner with debt of over £40K
| Debt: £42,000 | Was paying: £910/month |
| Now paying: £410/month | |
| Client has debts of £42,000 with 8 creditors. He is over 65 years old with £1,270 per month joint income from his own and wife's pension. He was paying out £819 per month.
He own his home, without a mortgage, valued at over £400,000. He was refused secured loan due to insufficient disposable income. We have reduced his payment to £420, with a view to getting a secured loan or downsizing his home in the future.
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