Case Study 1

Mr & Mrs M were both in full time employment and although they had built up loans and credit card debts of £80,000 they were able to make the required monthly repayments. Unfortunately, Mrs M saw a substantial reduction in her hours which then caused future difficulties in managing these repayments together with their general living expenses.

After failing to agree an informal repayment plan with their creditors they were left feeling that they had no alternative other than Bankruptcy.

Fortunately Mr & Mrs M spoke to a friend who was aware of Blue Debt Solutions and after a couple of days we were able to provide their creditors with a comprehensive repayment plan over 5 years via an IVA which had in effect reduced their debts by nearly 70%.

Mr & Mrs M and their children are now stress free as they have just one affordable monthly payment to make and are safe in the knowledge that they will be totally debt free within 5 years.

Case Study 2

Mr G for a number of years had been a Director of a successful company which then fell on hard times and had to place his company into Liquidation.

Although Mr G found new employment after a couple of months he had fallen into arrears with his personal loans and credit cards which were in the region of £150,000.

After contacting Blue Debt Solutions, Mr G was able to propose a Voluntary Arrangement whereby his creditors accepted just 25% payment in full and final settlement over a period of 5 years.

As Mr G was also a home owner and despite having to release equity in his property to help repay his creditors the Individual Voluntary Arrangement (IVA) has safeguarded the family home which could have been at risk if he had been declared bankrupt.