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Mr Morris | Monthly Household Bills | £505 | (Excluding credit card and loan repayments) | | | | | Monthly Credit Commitments | Monthly Payment
| Balance Outstanding
| Capital One
| £50
| £245 | HSBC
| £100
| £1,077 | Lloyds TSB
| £100
| £1,290 | Natwest
| £200
| £1,726 | Orange
| £150 | £1,315 | | Totals | £600 | £5,653 | | | | | Total Monthly Outgoings: | £1,105 | | | | | | Total Monthly Income: | £740 | | Monthly Shortfall | £365 | |
The Situation
Mr Morris only has £235 left after paying his board, housekeeping and other essential living costs but every month needed to find £600 to satisfy his credit repayments.
He had tried to obtain a loan to consolidate all credit into one payment but was declined. The Express Debt Solution
Mr Morris contacted Express Debt Solutions and realised that his income wasn’t enough to meet all his outgoings and creditor repayments. We suggested using a monthly payment plan, in which we would explain his financial situation to his creditors and negotiate repaying his debt at the amount he could afford of £235 per month. We advised that if the creditors would stop interest and charges it would be likely that he could repay his debt in only 31 months by using our monthly payment plan.
Debt FREE in only 31 months.
Mr Morris has now been in the monthly payment plan for 8 months and can see his debt reducing. His creditors have accepted the restructured payments and stopped interest and charges all because of an Express Debt Solution! This is a "Real Life" example however we have changed the names to protect individual identities.
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Actual_Examples
