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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.

How to Stay on Top of Your Credit Card Debt

Thousands of credit card owners in the UK are seeking ways to reduce debt resulting from indiscriminate spending sprees. Here are some steps that debt worriers should consider when looking for an effective credit card debt management service.

In simple terms, debt management is a method adopted by the borrower to bring down their debts to a manageable amount. There are different credit card management services that are available for every level of indebtedness.

If you owe only a small amount, i.e. £500, then your best option is to transfer your balance to a credit card that offers zero interest rate. This means that all your payments is aimed directly towards the reduction of your debt with no interest rates that will just put additional load to your expenses. If you are making payments on a card that charges 16% interest rate, you will notice that a good portion of your money goes to interest payments alone, leaving only a small remainder to pay for your principal debt.

Another way to reduce debt is through debt consolidation. This method is for debts that amount to thousands of pounds or debts that involve multiple lenders i.e. owning several credit cards. Debt consolidation involves bundling up all your credit card debts into a single loan and paying off this one loan with only a single payment each month. This method is good if you want to do less work while chipping away your loan balance.

Borrowers with more serious debts that reach around £20,000 or more should seek professional assistance. Many debt management companies can be found both online and in brick-and-mortar establishments. Most of these companies are reliable and you can approach them for a free consultation.

If you want to manage your debt by yourself, try to contact your providers. Inform them of your repayment problems and request for an arrangement that will be beneficial to all involved. Your providers should be more than willing to help you from going bankrupt because if that happens, they will have a difficult time in recovering the money you owed them. They can waive the interest payments and even slash a portion from your debt.

If you are suffering from a major stress because of serious debt problems, seek professional advice to reduce debt as soon as you possibly can. Take immediate action to get your finances on the right track and approach your problem with a positive attitude to get you out of your financial setback in the shortest possible time. GP

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