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Real life case study #1

Matthew’s self-employment hadn’t gone quite the way he had hoped. His income had dropped considerably and the slack had been taken up with credit cards and personal loans.

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This seemed fine for a while as he told himself things would get better eventually and more work would start to come in.

But it didn’t and Matthew simply got into more debt.

Soon he was well over his overdraft limit, behind on his payments for his credit cards, loans and also his mortgage.

Matthew began to think the unthinkable – he prepared himself for bankruptcy.

He contacted a debt counsellor to find out how to go about filing for bankruptcy but was surprised to find that there was a way out of his situation without going bankrupt.

The debt counsellor told him about Individual Voluntary Arrangements, or IVAs, where a large percentage of the overall debt is wiped out and the rest is paid over five years.

Matthew decided to take this option and is now on his way to becoming debt free. Because his monthly payments are based on what he can afford, he has had the time and space to build up his business.

Call us now or click below to be Debt Free in 60 Months.