Each of our experts have selected real examples of how their particular specialism can assist people resolve their debt concerns in the right circumstances. We hope that these case studies help to demonstrate the theory in real terms. We also trust that they will illustrate how those who make the brave decision to take act on their unmanageable debts can quickly find relief in the situation being brought under control.

My husband and I had always used credit and had never missed a repayment to our creditors. Credit cards were used out of convenience in the main and the various benefits offered by some card providers (high street vouchers etc) encouraged me to use the card more and more for day to day living expenses albeit with the full intention of repaying balances in full at the end of each month end. Using the cards for the purpose of maximising the value of vouchers at the end of each month, however proved to be a big mistake; at the beginning when our bank balances looked rather healthy at the month end we would treat ourselves and spend on unnecessary items losing sight of the fact that there was a debt to pay when the credit landed the following month.

I soon entered the never ending world of using credit to repay credit and before I realised I had run up debts of £32,000. All of this debt was in my name and my husband had not realised the full extent of the problem. When he did become aware my husband became furious; he was annoyed that I had foolishly run up the debt in the first place and also that I had hidden it from him for some months.

I tried to stop using the cards but meeting the monthly contractual payments to my creditors each month meant that I was struggling to pay other commitments which involved feeding the children and keeping a roof over our heads. My husband was adamant that I should sort out the mess that I had got myself, and the family into, and this led to constant rows in the home. I felt guilty for my actions and this in turn made me defensive whenever asked for money by the children for school trips, new trainers and the like.

My family was in a mess – my husband no longer trusted me, my children did not understand why I had changed into this unreasonable mother particularly as I had only been too happy to lavish them with gifts/luxuries when I was busy spending on my credit cards and saving up my high street vouchers! Relations with friends suffered as I felt unable to share with them the reasons for my negative attitude to “girls nights out” which I had previously encouraged.

Feeling all alone, and unsupported, I could not decide whether it was marriage counselling that I needed or advice about my debts. I turned to the yellow pages one evening and turned to “D” for debt advice (only because it comes before “M” in the alphabet). I telephoned a debt advisor and, after hanging up the receiver on a couple of occasions, eventually plucked up the courage to speak to the advisor on the end of the phone. I could not believe how much I shared with that person that evening and that in itself left me feeling relieved when I hung up that phone. That was just the beginning of a journey that has changed my life and that of my husband and children.

I was visited by a debt advisor who explained all of my options to me – yes there was more than one – but as I had a share of equity in the family home I decided to opt for the Trust Deed Option. The Trust Deed provided me with the opportunity of reviewing my spending habits through agreeing a budget with my Trustee in order to arrive at an affordable monthly payment and also a plan of how to deal with the equity in the home. I could not believe that I had already put my family through hell for 18 months and if only I had taken action earlier I could have been 18 months into that 3 year period with only a further 18 months to go. I realised that the Trust Deed was a lifeline and it would enable me to be debt free within 3 years. In addition of course there was also the added bonus of being able to report to my husband that I had taken responsibility for my actions and I would hopefully learn how to budget properly thereby ensuring that I never put the family in that position again.

I have now completed the Trust Deed and celebrated my 15 th wedding anniversary one month after its completion. My relationship with my husband and children was repaired within the first few months of the Trust Deed process and I can already see that my 3 year period of “rehabilitation” in the Trust Deed should enable us live debt free for the rest of our lives. The help and support that I was given by my Trustee was excellent and I never once felt that I was being judged. There were some difficult times when I was reminded of my obligations to my creditors but the focus was always about getting me through the 3 years and in doing so paying back something to my creditors.

The credit cards have gone and a savings account has been opened. What a change a Trust Deed can make!

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