Client story: Chris “You won’t regret reaching out”
Written by Hannah S on 5 November 2021
“You won’t be the first in your situation – or the last. PayPlan advisers will use their experience to help you – and you won’t regret reaching out.”Chris contacted PayPlan after the breakdown of his marriage. He works in the Police and was concerned being in debt may affect his career.
Discovering the amount of debt he was in following marriage breakdown
Chris’ debt was mostly from credit cards, which had accumulated over the years.
What he didn’t realise though was that his wife, who controlled their finances at the time, had also fallen into arrears.
It was only after their relationship ended that Chris learnt, and was shocked to realise, the full extent of his debt.
His situation only got worse when his minimum monthly payments escalated to more than what he was earning, and he was unable to keep up with his mortgage payments. Plus, he had no-one to turn to for financial support.
Chris’ mental health was also affected as he couldn’t afford petrol to visit people and was struggling to pay for food.
Taking that first step to get debt advice
Chris followed the advice of The Police Federation and made a call to us.
He completed a budget with his adviser, who decided a Debt Management Plan (DMP) was the most suitable solution based on his circumstances.
He found that although it was tough getting by without previous luxuries, it was totally worth it to be debt-free and Chris feels the DMP was the best option for him.
A debt-free life and new future ahead
Chris has been able to secure a mortgage on the house he now lives in with his new fiancée and son. They manage their finances together and are currently saving for the wedding.
Chris is a big believer in being open and honest about debt – no matter how daunting and stressful it may seem.
He was delighted with the advice received from us, which acted as a turning point in his life.
Do you have a story to share? Or do you need help getting back on top of your finances? If so, you can get in touch with us here.
Filed under Client Stories