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How Debt Consolidation Helped Reduce Our Monthly Outgoings

The following article describes a typical scenario, where the team at trufe. have been able to help our client. We have changed the names and combined common feedback that we receive from our customers when discussing their situation to outline how we can help customers looking to consolidate their debts and better manage their money.

Working with trufe. John & Sarah were able to reduce their monthly outgoings by over £200, add significant value to their house and get out of an endless cycle of credit card debt.

Life can catch up with you sometimes. Sarah and John had wanted to have their windows and doors replaced and add a conservatory to their house for quite some time, but after an illness in the family and have had to look after Sarah’s mum for a few months John and his wife Sarah were struggling financially.

Stressed Out by an Endless Cycle of Debt

Sarah was forced to take quite a lot of time out from work so pressure had been building up for a while, stress was really beginning to cause arguments, their relationship was suffering and so were the kids and everything was getting too much.

Sarah said “one of the things I felt most guilty about was cutting back on days out and kids clubs, it’s just not fair on them - but I suppose it’s just a fact of life when you get to our time of life right? We’d given up even thinking about getting the new conservatory, but that’s the least of our worries.”

When Sarah first contacted trufe. her story wasn’t untypical, living in the South of England their home was valued at £500,000 with a mortgage of £335,000 which meant a monthly commitment of £1,350 a month.

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Homeowner with Credit Card Debt & Loans

The issues they had were the debts which had built up on 3 credit cards and another existing loan they’d taken out for £60,000 against the house 5 years previously, put these two payments together and they were paying out a huge amount of £1,289 a month on top of their mortgage.

“Bottom line for us was we needed certainty and to be able to see light at the end of the tunnel. I’ve always tried to stay away from using credit cards” said John.

“By consolidating our debts with trufe. it's definitely taken the pressure off for sure, and now Sarah is a lot happier, I’m feeling much more positive. We’ve been able to get the conservatory, windows and doors plus had some cash put aside. The work we've done has paid off as the house is worth much more now and our outgoings have gone down by at least £200 a month”.

Debt Consolidation with Additional Borrowing

By consolidating their debts with trufe. John & Sarah had saved £160 a month, borrowed a further £40,000 for home improvements and got out of the endless cycle of credit card debt - the result was manageable monthly payments, reduced stress and added value to their property.

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trufe. is a trading name of Green FS Ltd (FRN 833558) which is an appointed representative of HL Partnership Limited, who are authorised and regulated by The Financial Conduct Authority.

The Financial Conduct Authority does not regulate commercial lending, secured or unsecured loans and some forms of Buy to Lets. Equity release includes Lifetime Mortgages and Home Reversion Schemes. We can advise and arrange Lifetime Mortgages and will refer to an approved specialist for Home Reversion schemes.

Your property may be repossessed if you do not keep up repayments on a mortgage or any debt secured on it. ​

Green FS Ltd is registered in England and Wales with company number 11605501. Registered office address is trufe. The Leeming Building, Ludgate Hill, Leeds. LS2 7HZ.

The information contained within this website is subject to the UK regulatory regime and is therefore targeted at consumers based in the UK.
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