Case Studies

What we hear
• “My debts are spiralling out of control, I just can’t manage them.”
• “I am struggling to make my minimum payments each month.”
• “I am robbing Peter to pay Paul.”
• “It’s got the stage where it’s all making me ill with worry.”
• “My creditors are harassing me every day and threatening legal action.”

What we can do
Individual Voluntary Arrangement: Case Studies
Choose from the following:
• Tenant/Employed <
• Homeowner/Employed
• Lump Sum
• Homeowner/Self Employed

Tenant/Employed
Ms. S. of Ipswich came to us with outstanding debts of £47,000. She had a regular income and was able to make a payment of £350 per month. Ms. S. offered to make 60 monthly payments to her creditors and also agreed to pay 50% of any bonus, overtime and commission payments she received in her salary. Her proposals were accepted by a majority vote and interest and charges were suspended at the date of approval. At the end of her Arrangement, after fees and expenses, Ms. S. had paid 25 pence in the pound and had been released from any further liability.