Recent Cases
Case Two: Unsecured Loan - £24,000 cleared for £392.83
This customer had organised their debts with a variety of high cost credit card and personal loan providers. The collective payments had meant that if nothing was done each month the customer would be further in debt. Using a low cost unsecured loan we were able to reduce monthly costs by £210 per month
| Customer's original financial situation | ||
|---|---|---|
| Creditor | Debt Outstanding | Monthly Payment |
| GE Money (PL) | £3,000 | £61 |
| Citi Financial (PL) | £4,804 | £110 |
| Goldfish (CC) | £5,200 | £193 |
| Welcome Finance (PL) | £6,177 | £119 |
| Provident (PL) | £5,580 | £119 |
| Total | £24,761 | £602 |
- Solution selected
- Unsecured personal loan with Blackhorse Finance at a rate of 8.9% over five years @ £392.83
- Key reasons for selecting an unsecured loan option
- No property available to use to get even lower interest rates through a secured loan.
- Credit quality whilst not strong allowed us to get two loan providers interested in lending.
- Key benefits for the customer
- Monthly costs were reduced by approximately £210 per month.
- No impact on credit rating.
Case One: Unsecured Loan - £10,000 with minor arrears cleared for £147.60 per month.
Case Two: Unsecured Loan - £24,000 with arrears cleared for £392.83 per month.
Case Three: Secured Loan - £44,000 in debts cleared for £371.08 per month
Case Four: Secured Loan - £60,000 cleared for £450.54 per month
Case Five: Debt Management Plan - £27,000 managed for £250 per month
Case Six: Individual Voluntary Arrangement - £127,000 cleared for £1122 per month
Case seven: Individual Voluntary Arrangement - £93,000 cleared for £690 per month.
Case Eight: Individual Voluntary Arrangement - £44,000 Cleared for £390 per month
Case Nine: Individual Voluntary Arrangement - £20,500 Cleared for £195 per month