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The case of Miss B

This client had a number of credit card debts. Her only asset was her house which she had obtained in a previous divorce settlement. She only had two sources of income; a part time job and her state pension.

We wrote to all her credit card companies explaining that she could not maintain her minimum credit card payments but was trying to sell or refinance her house and asked for some time to try and help her. We obtained this and they agreed to temporarily freeze the interest.

We then spoke to various lenders including those that offered Equity Release Plans with a view to freeing up funds to settle the credit card debts and when further funds were obtained we then negotiated full and final settlements with the credit card companies thereby avoiding bankruptcy.