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Steve and Nicole's Case Study
Steve and Nicole have experienced their fair share of problems in the last four years. They have two children, a boy of 16 and a girl of 12.
Four years ago Steve suffered a sudden debilitating illness, which meant he had to cease work. Nicole continued to work and helps care for Steve along with a visiting nurse.
A year later, their son was involved in a serious car accident, which required a long stay in hospital and over six months recuperation and physical therapy. Nicole had to leave her job to care for her husband and son. The family also had to move into a modified bungalow because of Steve's condition.
Before any of their problems, Nicole and Steve owed a modest amount to a credit card, and had never missed a payment. Because of the problems that have since arisen, they have had to borrow more, and relied upon loans to care for their son and also to provide Steve with the necessary care that he requires. Before long, they could not see a way out of their financial problems.
Since contacting us, we have worked out an arrangement with their creditors to repay 45% of their debt in single monthly payments over a five year period. At the end of the five years they have agreed to release a modest sum of equity in their house to complete the payment.
Their finances are now in order, and although the creditors will not get all of their money back, Steve and Nicole have nothing more to worry about.
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