|
|
-
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
-
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
-
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
RSS Feed
W for Weddings
You really do meet the weird and the wonderful in this business, and I’ve experienced my fair share. A few years back I was trying to help an unusual character with his debt problems when his ‘tame’ grey parrot started chewing my shoe. Another time, I thought the animals in one house I visited smelt a bit strongly – only to be evacuated by a gas man who informed me there was a huge gas leak...
A potentially wonderful experience, i.e. a wedding, can turn out negatively if the finances don’t add up right. Your wedding day is supposed to be the best of your life. For one couple I met, their wedding didn’t turn out to be quite the dream they’d hoped for.
Tina and Michael had been engaged for 18 months. During that time, the simple wedding they’d planned had somehow become a luxurious extravaganza. The simple dress Tina’s mother had wanted to pass down to her was replaced by a handmade designer dress, and the bridesmaids increased from a manageable three to eight.
Michael fell in love with a talented jazz band – the only problem was they were almost fully booked, and were only persuaded to perform at the wedding after he offered double their standard fee.
The food, too, had to be perfect. Michael and Tina finally agreed on caviar canapés, and bottles and bottles of champagne.
The couple worked hard all their life – both had put some money aside for the occasion. But as the wedding became more and more elaborate, they found that turning to their credit cards was the easiest way to deal with the mounting debt.
Once the couple decided their two-course Wedding Breakfast looked a little light when compared to the wedding of Tina’s cousin they had attended five months earlier, they turned to a short term loan, which would allow them to extend their two courses to five.
During the run up to the wedding money seemed a bit tight but they were just about making their repayments. It was only after the wedding, on their honeymoon in the Seychelles, the situation changed. One credit card was declined, then another and another. Finally, Michael rang his dad – who wired him a short term loan.
I met them the day they flew back, pale underneath their tans. After negotiating with their short-term creditor, I helped them create a monthly repayment plan. I know this wasn’t the ideal way they wanted to enter married life, but had they not faced up to their wedding debt, it could have been a lot worse.
