Debt doesn’t discriminate and there’s no one size fits all profile to those who struggle. That’s something Phil understands only too well.
As a successful business owner – having run a vintage clothing store – and IT specialist life appeared to be running smoothing for the Manchester man both at work and home.
However, behind closed doors, things were not as they appeared. Phil found himself struggling with his finances and balancing the books wasn’t quite as easy as it once was.
Speaking of his experience, Phil said: “Because of my career, I often work away, so I’m living in hotels and eating in nice restaurants, which is great.
“But a few years ago when I’d come back home the money would be so tight that I’d struggle to buy food – it wasn’t as it seemed.”
Phil’s marriage also came to an end, leaving him with additional expenses and not enough income to make ends meet.
“When I got divorced, I had to find a new home. On top of that, child maintenance payments were introduced – again significant costs,” he revealed.
“Setting up and starting your life again later in life isn’t easy and has lots of costs associated with it.”
Realising that his debt was spiraling out of control, Phil did some research into dealing with debts, reaching for a solution to his money troubles. Knowing what he needed to do, he took the plunge and found help.
He continued: “I thought, I’ve got to do something significant here to try and sort the debt out.
“Then when I discovered IVAs, and subsequently contacted Creditfix. It was a little daunting but during the process, Creditfix were there contacting me, checking things, letting me know the status of the application – I was always in the loop with what was happening.”
Phil can now live his life feeling in control of his money. With his expenses nowhere near as high he no longer needs to worry about getting from one payday to the next and is able to let his business flourish.
“My life has changed significantly. The outgoing payment has reduced by 50% – I can pretty much live a normal life,” he said.
“I can buy food and choose the food I’d like to eat, you know, instead of beans on toast. My personal life has benefited as a result of that, as well.”
Being a Creditfix customer has also helped Phil break down the stigma surrounding his debt, to budget better and make more out of his money.
“It’s never looked on as a negative aspect of your character, and the way the budgets and the process is explained is very, very clear.
“You understand what’s happening every step of the process and at the end of process, it all fits into place and you can continue your life in the best way you can.”
If you can relate to Phil’s story and are struggling with debts, contact us today. Our friendly, non-judgmental advisers are on hand to help you and are trained to give you the best advice for your situation.
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