Case Study – Second Charge Finance to Clear an Individual Voluntary Arrangement - May 8, 2018

Area: York

Loan amount: £80k

Second Charge Finance to Clear an Individual Voluntary Arrangement

Our clients 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.

After speaking to a member of our Specialist Lending team and taking into account all the factors specific to the case we were 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.

Find out more about second charge finance and how it can help in a number of different circumstances.

To discuss your individual situation and find out how we can help with your specialist finance needs, call our Specialist Lending Department on 01249 474 956.

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