How it started
My nan left me some money when she died. I used it as a deposit on a flat — it was a big mortgage, but it felt like the right thing to do with her money. Something lasting. Something she would have been proud of.
Then life happened all at once. I got married. I fell pregnant. When it was just us the mortgage was manageable, but by the time we had a toddler and my husband’s work had become unpredictable, we were using credit cards to fill the gaps. Not for luxuries — just to get through the month. The balances kept growing, the minimum payments kept coming, and I felt completely overwhelmed. I told myself it would settle down when things steadied.
They didn’t steady. One evening a bailiff came to the door. I hid in the bedroom with my heart hammering and called Priti at Lightside. She stayed on the phone with me and talked me through it, calm and completely matter-of-fact, while I listened to him knock. I don’t know what I would have done without that phone call.
Priti put a creditor arrangement in place and it made an enormous difference. Lightside took over all contact with our creditors — the letters, the calls, all of it — and dealt with the bailiff directly so we didn’t have to. For the first time in a long time, I felt like someone was standing between us and everything that had been bearing down on us. I could breathe again.
When the mortgage rate changed… well, that’s a different story.
The Outcome in brief
Adviser: Priti Shah · Referring Adviser: Lorraine Sellwood, IFA, Phase 8 Ltd
Mr. and Mrs. V came to us feeling hopeless. We gave them room to breathe, and the financial stability and control to focus on their new home and parenthood.
If you’re using credit to get through the month and the balances keep growing
You’re not the only one. Most people who come to us have been managing — until they can’t. We’ll look at the full picture and tell you honestly what can be done. There’s no charge for the initial conversation.
The work behind the outcome
Initially, a Creditor Arrangement was put in place. This created breathing space. Immediate pressure reduced. Mr. and Mrs. V were able to focus on parenthood and felt a level of financial control that they had not experienced before.
When Mr. and Mrs. V came to us, they were behind on their commitments, had not identified which debts were priority debts, and were paying those who shouted the loudest. They were relying on credit to maintain day-to-day affordability.
We reviewed their income and essential expenditure, the level and structure of their unsecured debt with priority debts identified, and the impact of the mortgage increase on long-term affordability.
Initially, a Creditor Arrangement was put in place. This created breathing space. Immediate pressure reduced. Mr. and Mrs. V were able to focus on parenthood and felt a level of financial control that they had not experienced before.
However, as circumstances developed, it became clear that the position could not be sustained indefinitely. At that point, the focus shifted from managing the debt to deciding what the right long-term outcome should be.