Boutique Debt

23 Mar Boutique Debt

Christie moved from Hyden to Narrogin so that her son could go to a better school.  She purchased a business which operated successfully for the first couple of years.

Decrease in Shoppers – Economic Downturn

The area where her shop is located has seen a drop in customer traffic.  This fact has caused a huge drop in turnover.  Economic conditions have also impacted incomes and we have had to discount our products heavily to hold on to sales.

Self Employment the only Answer

Christie suffered a spinal injury a few years ago and can only work in her own business as she would never pass a medical.    She is still under medical care and is raising her son alone.

House on the Market – Destroyed by Tenants

Her house in Hyden did not sell when she left so she tenanted it out.  The tenants have caused considerable damage and she does not have the money to pay for it.  She has now put the home on the market but it wont sell for much in its current condition.

Debt Agreement

She was desperate and was thinking about listing her business for sale, but it is her only supply of income.  The team at Active Debt have helped Christie to get a Debt Agreement in place and she has now had her property fixed and has it listed on the market.   Active Debt are working with all of her creditors for her home and business and the house in Hyden repair bills to be rolled into this one Agreement so she can just focus on getting her business back on track and increase her customer flow.  It is still hard but manageable and she can put the proceeds from the Hyden House when it sells straight into the Agreement to reduce it quickly.

 

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