An example of our help

Our client is a young family man with two children. His business collapsed at the height of the recession but he managed to find work elsewhere. He had a number of debts arising from the business collapse. He took out a loan secured on his home and was able to negotiate final repayment terms with all the creditors except one.

This creditor refused a further offer from the client of payment by instalments and petitioned for his bankruptcy. The debt was £3,500.

After discussing his situation, we noted that the client had some equity in his home, and might still be able to negotiate with the creditor. We were able to get him free representation from a barrister under the PILARS scheme.

With the barrister’s help the client was able to negotiate a voluntary charge on his property, on an interest free basis and with affordable payment terms over four years.  The creditor accepted the offer, and the threat of bankruptcy was lifted.

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