Have Your Clients Chalked up a Lot of Debt?

Become an Introducer Today!

Personal debt? Visit our dedicated debt help site >>

Full & Final IVA Case Study

Since the age of 18 I have always had credit card, loans and overdrafts. My debts gradually increased over the years, using 'cash advances' for nights out and spending sprees.

Credit card companies just kept on increasing my limits, which I did not refuse. As there was more money available I used it and then only paid the minimum amount required each month.

All this resulted in me owing more than £28,000 with nothing to show for it, no car, no house deposit, etc. In December 2002, I finally realised I had a problem; I couldn't afford the minimum payments each month, so I did the best thing I have done for a long time, I took advice from The Debt Advisor.

I entered into an Individual Voluntary Arrangement which provided for a lump sump of £15,000 to be paid into the arrangement to settle my debts in full. Creditors received a dividend of 41p in the £.

Clients Situation before IVA


Total Unsecured Debt

£29,167

Surplus Income after living costs

£120 per month

Approx monthly commitment to unsecured creditors

£729

Shortfall

£609 per month

Approved IVA Solution


Lump sum raised by husband by
re-mortgaging his property

£15,000

Total Repayment by Client

£15,000

Dividend to Creditors

41p

Become an Introducer
Name
Telephone
Email
Company
Registration Number
Address
City
Post Code
Web Address
Nature of Business