Case Study

Sarah

Consolidation loan

Summary

The Challenge

Sarah's struggling to pay off debts.

The Solution

Consolidation loan.

The Challenge

Sarah is struggling to pay her debts and feels like her finances are out of control. She’s making all of the payments but it seems as though she’s treading water.

Her debts include three loans: one on a credit card, one with her bank and one with a local finance company.

As a result, Sarah is paying £695 every month to service her debt.

The Solution

If Sarah consolidated all of her debt into one loan with Future Finance, she could reduce her payments to £530.83 per month.

That’s a whopping £165 of savings every month!

The full story

Sarah is struggling to pay her debts and feels like her finances are out of control. It’s causing her a huge amount of stress and she can't sleep. She’s making all of the payments but it seem as though she’s treading water and unable to get herself out of a debt black hole.

Her debts:

  1. A credit card with a £10,000 limit which she seems to hit every month. It costs £200 per month (2% of balance) to stay on top of it.
  2. A loan agreement with her bank for £5,000 which she took out for 2 years. This costs her £241.67 a month.
  3. A loan with a local finance company for £9,500 for a car which she took out for 4 years. She pays £253.33 a month on this.

As a result, Sarah is paying £695 per month to service her debt.

If Sarah consolidated all of her debt into one loan with Future Finance, she could reduce her payments to £530.83 per month.

That’s a whopping £165 savings a month!

Sarah can now sleep easy and start to enjoy life again.

To find out how you can reduce your outgoings by consolidating your loans, call Future Finance now on 01534 493933.