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and you could soon be seeing
a brighter future too.

A Real Life example of how our services changed
one customer's life for the better...

Mr A. of Guildford contacted us in October 2006. He was at his wit's end. Having purchased his home earlier that year, he had no equity to borrow against, and the mounting costs of his new home and supporting his wife and two young children had quickly put him £50,000 into debt.

His monthly minimum payments were over £900, and even at this level he was only repaying the interest each month - the original debt was not even reducing. After his mortgage and these payments, there was barely enough left for his family to live on.

Gradually things got worse. Mr. A. started to miss payments on his credit cards and mortgage - his wife was concerned that they were going to have their beautiful new home repossessed by the building society. She saw one of our adverts and begged him to take action before it was too late.

Our professional qualified advisors arranged an Individual Voluntary Arrangement (IVA) for Mr.A which meant that his debts could be repaid at £325.83 per month, payable over 5 years. Now he will repay a total of £19,549.80, instead of the £50,000 plus interest that he owed. Over the 5 years, that's a saving of over £84,000! Yes, just by talking to us, Mr. A saved over eighty four thousand pounds.

Mr. A and his family are now more relaxed and confident that they have enough money to pay their mortgage and enjoy the good things in life. And best of all, in 5 years, they will be 100% debt free.

Freedom from Debt to Get Your Life Back

It doesn’t matter how much you owe, you can still get out of debt. Even if it seems like things are getting out of control – when the bills come in and you have to wait for the last moment before you can pay, yet still you can only afford to pay the minimum amount.

Don’t keep on shuffling money constantly just to keep up with this cycle. Reclaim your life back from the bill collectors and money lenders and take control of your finances now.

Prepare a Budget

Get to know how much money you are spending every single day of your life. This does not only include the big items such as mortgage or rent, various insurances, or council tax. The usual bills such as electric, petrol, and water and all other incidentals such as meals out, video rentals, or occasional shopping trips that would always end with an unplanned purchase should be listed as well.

Prepare a List

This is a very vital step to get out of debt. You’ve got to make a list of all your credit agreements and debts. Include the specific name of each one, as well as the interest rate charged every month.

Do you know that out of five people, there are four who don’t know how much their interest rate is? This is the reason why they are vulnerable to overpriced credit, and often use their spare cash just to keep up with interest payments.

Prioritize your Debts

Now that you have your list, you can easily work out the debts that you need to clear out first. If your money is limited, you may want to pay off the one that’s costing too much in interest.

Use your Savings

Generally, interests in loans or credit cards are around 20-30% per year whilst your savings account interest is only giving you less than 5%. So why don’t you use your savings to pay off your debts? It makes a lot of sense to do this. You can make your money work for you, instead of the other way around.

Avoid Minimum Payments

People never get out of debt by just paying the minimum payments on their credit card. Just do the math – if your monthly interest rate is 1.5% and your minimum payment is only 2%, how much of your payment actually went to the principal debt? A measly 0.5% - this is why you will be very old before you actually pay it all off.

So always pay more than the minimum. The sooner you can afford to pay higher amounts, the quicker you will be debt-free. GP

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