A for Articulate

The most important thing for me as a debt advisor is for my clients to talk to me. If they don’t articulate, it can be really difficult to get to the bottom of a case and present the customer with the best solution.

One case involving a mother and her two daughters is a prime example. This lady – who was in her early 70s – wasn’t the most articulate of clients, which is why she had asked her two daughters to be present during the meeting. Anyway, we were going through the circumstances of her difficulties and it turned out that she had taken out the loans for her two daughters who both had problems securing credit themselves as a result of poor credit history.

During the exercise of looking through her income and expenditure it became clear that the mother wouldn’t be able to afford the minimum repayments on a debt management plan. The daughters, who were extremely upset about everything they had put their mother through, insisted that they would pay their mother’s bills. However, when I looked closer at their finance, it was evident that they couldn’t afford to pay either. Both daughters had their own debt management plans and were both paying quite a high rate.

After discussion with the whole family, we managed to secure a DMP for the mother with EuroDebt. We also secured Atlantic DMPs for the daughters, which offer more affordable monthly repayments. Once the daughters had changed plan, we worked out that they could, in fact, afford to pay their mother’s plan alongside their own.