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Diary of a Debt Advisor
- C for Charity
- P for Pensioners
- D for Divorce
- W for Weddings
- P for Planning
- F for Family
- P for Pressure
- E for Equity
- H for Housing
- R for Relationships
- B for Buy-to-let
- I for Income
- R for Retirement
- S for Shame
- I for Illness
- B for Bust
- C for Criticism
- M for Mental health
- H for Hormones
- R for Remortgage
- D for Director
- T for Travel
- B for Banks
- H for Humour
- A for Articulate
- M for Medicine
- C for Care
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In Profile with...
- Dave Collier of CA Tax Solutions
- Nicki Stewart of Money Return Ltd
- Peter Welch of Bridgewater Equity Release
- Justin Rees of LeadPoint UK
- Gerri Riddiough of Financial Bliss
- Stephen Brown of Classic Mortgages
- Sue Forrest at 1st Stop Debt Solutions
- John Fairhurst of Payplan
- Ross Walker of EuroDebt
- Neil Cronshaw of Varden Nuttall
- Bev Budsworth of The Debt Advisor
- Hayley Newton of Ashley Park Debt Solutions
- Ian Woodley of Now Financial
- Barry Mitchell of Recro Debt Management Services
- Aftab Zahoor of Debt-Simple Limited
- Mark Fawcett of Release Money Group
- David Rankin of Harrington Brooks
- Nick Pearson of Paymex Group
- Andrew Smith of ClearDebt Group
- Lee Healey of IncomeMAX
- Daniel Walker of The Debt Professionals
- Anthony Sharp of Anthony Sharp Associates
- Michael Fitch of Fairpoint Group Plc
- Charles Greed of In Control Debt Solutions Ltd
- Melanie Taylor of DEMSA
- Emma Bryn-Jones of Zero-credit Limited
- Stephen Robertson of Metis Partners
- Rehan Ahmed of Kingsland Business Recovery
- Kevin Still of the Association of Professional Debt Solutions Intermediaries
- Melanie Giles of Association of Professional Debt Solutions Intermediaries
- The Round Up
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Features
- Will enquiry find a case for fee-paying DMCs?
- Charging Orders - Threat or security?
- Are back book buy-outs the future?
- Bailiffs 'Exposure' - The aftermath
- New proposals: a stepping stone for bankrupts
- Debt and depression - a holistic approach
- Full and Final Settlements - a win-win solution?
- Repossession - a threat to overcome?
- Debt Relief Orders - the new bankruptcy?
- County Court Judgments - how can DMCs assist?
- Sale and rent back regulation - protecting the vulnerable
- The debt showdown - IVAs vs Trust Deeds
- Payday lenders cashing in on credit crunch
- Clever money management - the key to tackling debt
- The debt-trimental impact of friends and family borrowing
- IFAs speak out over impending RDR
- DMT delves into the world of insolvency
- Paydayloan companies: Case study from the Debt Advisor
- The secret to making debt leads work
- Top 10 money-saving apps
- Is the finance industry responsible for the nation’s debts?
- Dundee-based brokerage wins Business of the Year award for debt solutions
- FSA facing a difficult year ahead
- One advisor, two debt management referrals and over £600 commission
- Serious Fraud Office – Costing less but more effective?
- Former mortgage packager tells of transition to award winning debt advisor
- EuroDebt and mortgageforce partnership goes from strength to strength
- Paydayloan companies: Case study from the Debt Advisor
- From investment banker to debt advisor: EuroDebt welcomes new franchisee
- Family debt advice business scoops Franchisee of the Year award
- In The Spotlight...Jenni Slader, EuroDebt Franchisee
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P for Pressure
A case that instantly springs to mind was from a couple of years ago, which I even mention in meetings even to this day. I went to meet Lucy Clarke who was an old lady, just shy of 70 years old, who was living alone and owned her own house. She had accrued £45,000 worth of credit card debt and did not know what to do.
Despite the meeting being pre-arranged, when I went to see Lucy she was a nervous wreck. She was even scared to answer the telephone. On my first visit the phone rang three times whilst I was there and she didn’t pick it up.
The fear in her was plain to see. This was as a result of six to nine months of constant letters and phone calls from her creditors. They rang her seven days a week morning, noon and night. The pure pressure and hassle Lucy received was virtually ‘killing her’.
We discussed what debt plans were viable and it was obvious that a debt management plan (DMP) was right for her as she owned her own house. However, she could only afford half of the initial fee to sign up to a DMP. Lucy subsequently spoke to a close friend who sponsored her and gave her the rest of the money needed to sign up to the plan.
Lucy will never be able to pay the debt off as she’s retired and has no chance of increasing her income except for her pension. Why the creditors let her get in £45,000 worth of unsecured debt I’ll never know, but she’s doing absolutely fine now and is a much happier person after getting the creditors off her back.
People sign up to plans for different reasons but Lucy’s was obvious - to stop the hassle and let her enjoy the rest of her life.
