Debt Consolidation Case Study

Lorraine, aged 39 was a sales manager who experienced a marriage breakdown.

Lorraine was granted custody of the children and got to keep the marital home.

To look after the children, Lorraine had to reduce the number of hours she worked as child care was proving too expensive.

Due to stress, Lorraine was off work for a number of months and eventually resigned, meaning no regular income. In order to cover her and her children’s basic everyday expenses, Lorraine used credit cards and overdrafts and this escalated to debt of £14,000 owing to 7 different creditors.

Lorraine could no longer juggle her finances and realised the interest she owed on all the cards was more than she could afford.

However, Lorraine made the positive step of contacting us at Turn Debt Around. She had been out of work for 5 months but had recently started a managerial role with another company.

The Solution

We advised that the best solution for her was to take out a manageable monthly loan, putting all of her debt in the one place, so she had just one payment and one low interest rate.

Lorraine is now well on her way to a simpler, stress-free life without a debt problem.

Are you in a similar situation?

Complete our online enquiry form, we will arrange a time to contact you to go through your finances and talk through your options.

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