David was a self employed carpenter and initially business was great. Work was steady and he had no problem meeting his bills and earning a lucrative income. Eventually however, problems began. He purchased supplies on credit card for a major job contracting to a builder. Unfortunately the builder’s business collapsed and he was unable to pay, leaving David with a hefty credit card bill that he could not afford to pay. He was turned down for a debt consolidation loan ,debt collectors were hounding him everyday and he struggled to make ends meet dealing with his credit card debt, a car loan and the living costs associated with supporting a a young family.
Debt Mediators talked to David and eventually determined that a bankruptcy would be his best option. He would be able to clear all of his debts and make a fresh start. He would also be able to keep working and trading as a carpenter, which was important to him. He has kept his car and he now longer has to spend most of his weekly income on overwhelming credit card repayments or worry about being taken to court by his creditors. He’s now able to start saving again and is glad to have his life back on track.