Due to the ill health of Nicole’s mother, Ian & Nicole have faced significant costs.
Her mother had been diagnosed with lung cancer and they had paid for health care and also visits to the Philippines where she lived. Unfortunately Nicole’s Mum passed away and Nicole covered her funeral costs but had to use her credit cards.
When they returned, they worked long hours to generate extra funds to try and pay off their debt as they realized their debts which were in excess of £30,000 were spiraling out of control. The long hours left them exhausted and they both suffered bouts of ill health. A friend suggested they seek help and were referred to the TDA team.
Two years into the IVA, Ian and Nicole again suffered from ill health, and Ian ultimately had to give up work. The Debt Advisor proposed a variation which the creditors accepted allowing the IVA to be completed on the payments received to date. In total, the creditors received 14p/£ compared to 54p/£ originally agreed.
To speak to one of our advisors confidentially about debt solutions, you can call us directly on 0161 868 2500. You can also apply for debt help or contact our team.
The Debt Advisor Ltd is authorised and regulated by the Financial Conduct Authority (FCA) to provide debt advice to individuals. The Debt Advisor Ltd is on the Financial Services Register FRN 659920. Registered Office: 18-22 Lloyd Street, Manchester, United Kingdom, M2 5WA. Company Registration: 6248441. 0161 868 2500 | advice@thedebtadvisor.co.uk
No fee is charged for the initial advice. The fees, risks & benefits of all suitable solutions will be discussed. Fees apply if you enter a debt solution with us (for England, Wales and N. Ireland) and will affect your credit rating. An IVA will be listed on a public register.
Free and impartial debt advice is available at www.moneyhelper.org.uk
