Loan amount: £95k
We were contacted by our clients – a couple based in Worcestershire – and were currently in an IVA (Individual Voluntary Arrangement) – a formal debt solution to pay back debts over a period of time – and wanted to clear it.
Due to the nature of their adverse credit no high street lenders were willing to help them, leaving them in a cyclical situation whereby their credit situation in itself did not allow them to clear their debts, as much as they wanted to.
They contacted One 77’s Specialist Lending team who undertook a fact find of the situation as it was. Taking into account all the factors specific to the case we were then able to source a specialist lender who took all the balances from the various creditors involved and organised a direct payment to each of them. This in turn cleared the IVA from the clients credit file and allowed them to start rebuilding their credit history.
To discuss your individual situation and find out how we can help with your second charge bridging finance needs, call our Specialist Lending Department on 01249 474956.