Monthly Payments Slashed to £300/m

Mr B came to us with debts of £116,000. His debt had built up when a relationship failed and he’d taken loans to buy his partner’s interest in the home they had shared. Now he’s got a ClearDebt IVA and will only need to repay half of what he owed.

His mother became terminally ill as well – and supporting her involved more expense for Mr B. He wound up taking out more credit to pay the original debts: When he came to ClearDebt he needed to make payments of roughly £2,300 per month on pay of just over £2,000. We’ve got his creditors to agree to a payment of £300 per month.

He will, however need to put money from an inheritance into his IVA and will need to re-mortgage to release equity right at the end of the arrangement. But, he can afford the payments now, and he only needs, in total, to repay half of what he owes. Without our IVA, he’d have been made bankrupt – and lost his home for certain.

Calculate your monthly repayments in an IVA

Use our IVA calculator to find out what your monthly repayments could be in an IVA. Need to speak to an advisor? Call us today on  0800 019 2095.
Tell others:


Monthly Payments Slashed to £300/m

Updated on 2016-10-02T02:42:35+01:00, by Paul Gailey.

To enable use of cookies, you must agree to our cookie policy

We use necessary cookies to make our site work. We also would like to use analytics cookies which help to make improvements by measuring how you use the site. These will be set only if you consent and click agree.

Necessary Cookies: These cookies enable core functionality, such as security, network management and accessibility. You may disable these by changing your browser settings, this will effect how this website works and how you can use it.

Analytics Cookies: We’d like to set Google Analytics cookies to help us improve our website site by collecting and reporting information on how you use it. The cookies collect information in a way that does not directly identify anyone. For more information on how these work please read our Cookie Policy.