Debt Mangement Plan, Case Studies 

 

Mr & Mrs L own their own home with a mortgage and have 6 Credit cards with a total balance of £38000 costing £1140 per month as minimum payments with large interest payments being added each month.  

 

Mr L is self employed working in the building industry and the current climate has meant that work has reduced and so has his income. As a result they fell into arrears with their credit cards. Mydebtssolved.com were able to arrange a Debt Management Plan with a monthly payment of just £550 with the majority of charges and interest being frozen giving them a real chance to become debt free within 6 years. 

 

 

Mrs P is retired and living on pensions and benefits of £476 per month. She has debts of £2100 costing £168 per month. Mydebtssolved.com were able to arrange a debt management plan with a monthly payment of just £76 per month.  

 

 

After the break up of her marriage Mrs E was left with debts of £26000.00 including £7000.00 in overpayments due to the Department of Work and Pensions. With 3 children to support and just one income she was forced to sell the family home and move to rented accommodation. Creditors were still pursuing her for payments totalling £550.00 per month. We were able to negotiate with all of her creditors to Freeze all costs and Interest and agree to accept a payment of £126.00 between all creditors. 

 

 

After relocating to Devon from the North for business purposes it has taken over 3 years to sell their old house. Getting the business off the ground also contributed to the £95000.00 that Mr & Mrs G had accrued in unsecured debt. Payments totalled more than £2900 per month and they were still paying for two houses. We were able to negotiate a payment arrangement of just £275.00 per month with their creditors until their property sells. In addition most of the 12 creditors agreed to freeze interest and charges pending a review.  

 

Providing local Debt Management advice, help and solutions covering Cornwall, Plymouth, Torquay, Exeter, Taunton, Bristol and surrounding areas. Mydebtssolved.com offer personalised solutions to help you overcome problems with credit & debt. With considerable expertise, we offer a completely confidential service that will get you back on track and help you regain control of your finances. Mydebtssolved.com is a trading style of Assured Direct Homeloans Ltd company registration number 5940124. Licensed under the consumer credit act 1974. Authorised and regulated by the Financial Services Authority (FSA).  

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