“If he had completed the IVA, he would have paid back £6,000 over 60 months.”
Tom who was struggling with his mental illness and considered entering into an Individual Voluntary Agreement (IVA) to pay back loans and credit. Tom has now seen more than £18,000 of debt written off.
Tom was referred to us by his Caerphilly County Borough Council (CCBC) housing officer. The 58-year-old had begun a discussion with an IVA company when he came to us for advice. Cath Davies from the Debt Team quickly realised that this was not appropriate for Tom, who lived alone.
When reviewing his income and outgoings, there was little surplus money left after he had paid his bills. A Debt Relief Order (DRO) was far more suitable. Cath was able to help Tom get a Certificate of Termination from the IVA company and apply for the DRO. All of Tom’s debts had been cleared.
Cath said: “If he had completed the IVA, he would have paid back £6,000 over 60 months.”
Tom said his well-being has improved as a result of working with the Supporting People project. He said: “If it was not for your help and advice, I don’t know what I would have done. I think my mental health would have been dreadful and I would be in a very dark place if I had not had Cath’s help.”
