123 Debt Solutions
Free Initial IVA Debt Advice & Help
Rajinder's Case Study
Rajinder graduated from university four years ago with a degree in computer engineering. He found a good job working in the software development industry. He rented a flat nearby his work and spent money decorating and furnishing it to a good standard. As he graduated from university without any savings and some debts, he took out and loan and credit cards to pay for a car and his flat.
Unfortunately after 7 months, the company the Rajinder worked for went into liquidation. He lost his job and found himself without any income. He struggled to find a job that matched his old salary and position, and was out of work for over six months. When he did obtain a job, it was at a lower salary than is previous job.
During the time that he was out of work, Rajinder was not able to pay all of the ineterst on his credit cards and loans, and charges were applied. When Rajinder returned to work, he found that on his reduced salary and mounting debts, he was not able to meet all of his debts and living expenses.
With our help, Rajinder made and agreement with his creditors. He is paying a single monthly repayment over four and a half years. He will pay just over 60% of his debts and his creditors have agreed to wipe off the rest. Rajinder can now concentrate on his career safe in the knowledge that he will no longer receive any unwanted calls or debt letters, and that he will be debt free in less than five years.
back to the case studies