Case Study: Joint Couple from Newcastle

26 Creditors

  • Total debt – £26,477
  • Monthly before IVA £500
  • Monthly after IVA £170

Some of the Creditors:

  • EON UK PLC (I): £1130.00
  • DWP Department for Work & Pensions: £2232.32
  • Wirral Council: £2816.03
  • MONEYBARN NO 1 LTD T/A MONEYBARN (I): £6102.00
  • H & T (I): £1659.00
  • INDIGO MICHAEL LTD (I): £297.00

Gemma, aged 25, still quite young found herself struggling with £17,444.39 of debt with 17 creditors. As well as this her partner, Mark also found himself struggling with £9,033.21 of debt. With them both having to pay a large amount of debt off, buying everyday necessities and having to look after a young child, they both thought that their debts would never decrease.
‘Because of the large amount of stress, we found ourselves unable to keep up with a strong relationship as we had so much weight within our hands. We started struggling to manage our income, with some months not even having any extra money to spend on ourselves or our child.’
‘We then came across an advisor who, as a team helped us massively to manage our income and expenditure and inform us on how our debts would soon be managed. Even with Gemma unemployed and only receiving a small income per month, we soon started having enough money at the end of the month to spend on other things all thanks to Zero Debts’s help.’
Both Gemma and Mark could start to see exactly what they were spending their money on and exactly where their income went. This allowed them to manage their money more efficiently and calmly.
‘It’s made a huge difference. We no longer have the pressure of paying so many creditors back or being constantly approached by creditors through letters and phone calls. All our debts are finally being dealt with professionally and we can now start to build our relationship back up.