From Debt Stress to Financial Freedom: How TMAC Helped Lynne and Her Husband Clear Arrears and Consolidate Debts
When Lynne and her husband first came to The Money Advice Centre, they were feeling trapped and overwhelmed. The financial impact of COVID-19 had left them struggling with mortgage arrears, second charge arrears, and several unsecured debts. Every month was a challenge just to stay afloat.
They had tried to find help elsewhere — approaching multiple lenders and brokers — but were repeatedly turned down due to their credit history and existing arrears. It seemed like every option had been exhausted.
That’s when they turned to TMAC for help.
Understanding the Full Financial Picture
At TMAC, we believe that no two clients are the same. Lynne and her husband needed to raise around £50,000 to get their finances back on track. The goal was clear:
• Clear the mortgage arrears
• Repay the second charge arrears
• Consolidate unsecured debts into one manageable payment
By carefully reviewing their situation and exploring specialist lending options, our team was able to identify a homeowner loan that met their needs — even when traditional lenders had said no.
Finding the Right Debt Consolidation Solution
Using TMAC’s access to a wide panel of lenders, we found a secured debt consolidation loan that covered all of their outstanding commitments.
This new loan enabled them to:
✅ Clear all arrears and second charge balances
✅ Combine their unsecured debts into one affordable monthly repayment
✅ Save a significant amount each month compared to what they were previously paying
With the new arrangement in place, Lynne and her husband were able to regain control of their finances, reduce stress, and enjoy the stability of a single, predictable payment.
A Fresh Start and Long-Term Stability
Now, instead of managing multiple debts and chasing payments, they can focus on moving forward with confidence. Their finances are simplified, their arrears are cleared, and they’ve regained peace of mind.
At The Money Advice Centre, we specialise in helping homeowners who may have been turned down elsewhere. Whether you’re struggling with mortgage arrears, second charge loans, or unsecured debts, our expert advisers can help find a solution that fits your situation.
Struggling with Arrears or Debt? We Can Help.
If you’re finding it hard to keep up with multiple payments or have been refused by other lenders, don’t give up. There are often more options available than you might think.
Our friendly and experienced advisers can help you explore secured and homeowner loans, find ways to consolidate your debts, and help you get back in control.
