Claire works as a Dental Nurse and jointly owns her property with her partner. Due to a build-up of credit and following a new addition to the family and the unsecured loan attached to her pre-2008 mortgage, she was left with a significant debt legacy.
Claire called FD Debt Solutions seeking advice on the options available to her and, following several meetings and discussions about the various options, she decided to sign a Protected Trust Deed.
This resulted in her monthly payments reducing to the £300 per month that she could manage with her surplus income, with a further £500 paid to settle the nominal interest in her property, and resulted in her paying back over £17,000 less than the amount due when she signed her Trust Deed.
Alan is a chef and previously traded a restaurant with a Business Partner. The Business was trading well, but due to a bill for dilapidations in relation to the trading site, the business could no longer trade.
Alan contacted FD Debt Solutions seeking advice on the potential options available to him. After several meetings he decided to apply for the Debt Arrangement Scheme. Our team has supported him as his On-Going Money Advisor in this application. This scheme was approved, but shortly thereafter a further contingent liability for dilapidations became live and this left Alan with no option but to apply for his own Sequestration.
This resulted in Alan’s monthly payments being reduced to the £200 per month that he could manage from his surplus income, with a further £560 received to settle the nominal interest in his property, and resulted in him paying back over £30,000 less than the amount due when he first sought FD Debt Solutions assistance.
Raymond was suffering from health issues which had forced him to take the decision to retire. With debts exceeding £30,000 and his retirement looming Raymond was concerned that his reduction in income would see him struggle to make payment in full of his debts and could lead to him losing his home. Raymond was also worried that the stress caused by creditor pressure could exacerbate his health problems.
Raymond contacted FD seeking a solution to his debt problems and set up a face-to-face meeting with an advisor at FD. Together they examined his financial position, and explored and explained the options available. Raymond explained that he had spoken to other advisors about solutions but that they failed to explain things clearly and would phone him at home to try and pressure him into agreeing to sign paperwork.
Having discussed the options available to him with FD – at a face-to-face meeting, by email and by telephone - Raymond chose to make an application for bankruptcy to alleviate his creditor pressure and is now debt free.
Victoria was a school teacher who had suffered a relationship breakdown. No longer able to afford mortgage payments on her former marital home she had to hand the keys back to the bank. Victoria was concerned that with a shortfall on the mortgage for the former marital home, and a baby on the way, that she wouldn’t be able to cope with her debts.
Victoria came to FD’s offices and discussed her situation with one of their advisors. Our advisors have explained the options available to her and how each would apply in her particular circumstances, especially with a baby on the way. Taking all the advice into consideration Victoria decided to sign a protected trust deed. This enabled her to deal with her debt manageably and allowed for her change in circumstances to be taken into consideration when her baby arrived.
With FD’s help and professional advice Victoria was able to become debt free and move on with her life.
Theresa had survived cancer but had not been able to return to work. Since her recovery she had lost financial support she received from a charity and her debts had become unmanageable. Theresa felt that there wasn’t anybody to turn to as she had hidden her debt from her husband and her children. She was at her wits’ end and didn’t see a way out.
Theresa contacted FD by telephone to discuss her situation. A meeting at FD’s offices was arranged to enable Theresa to discuss her finances and concerns confidentially, without worrying that she might be overheard by family members. Following the meeting Theresa felt reassured enough to explain her situation to her husband and children and discuss the options available to her with them, as a family. The clear, straightforward advice provided to Theresa at FD enabled her to consider with her family which of the solutions available suited her.
Theresa chose to make an application for sequestration and by making monthly contributions from her income towards her £21,000 worth of creditors she is now on her way to being debt free. She no longer has to live with the worry of making sure she hides the creditor telephone calls and letters from her family.
Please note that all of our success stories are anonymous. The pictures are not accurate and the names are changed to protect the identity of our clients.
We have been advising clients since 1989 and helped thousands of people since then. Our experience shows that anyone can get into debt regardless of their social status or financial position. Things can spiral out of control very fast and all of us can get into debt without realising it. What matters the most is to be able to pick yourself up and not to be afraid to ask for help when you need it the most.
Contact us for a free and confidential advice. Our team of licensed insolvency experts and fully regulated advisers can help you get back on your feet through reduced monthly payments and by dealing with your creditors on your behalf. We can help to write off a large proportion of your debt and make a fresh start.