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Her spiralling debt had slowly but surely driven Tracey further and further into despair. It started as a small quick loan to get the car fixed when her income couldn’t be stretched any further. A year on, the car is gone, but the high interest on the loan and the credit cards mean her debt keeps growing and growing and growing.
A friend suggested she make an appointment with a Budget Adviser. Working with her BA really helped Tracey start to regain control over her finances. But her debts still worried her. It felt like she would be in debt forever.
With the help of her BA Tracey successfully applied for a Moray Loan. Now her debt isn’t getting bigger, it’s getting smaller each week. In three years she will be debt free.
The Moray Foundation Trust provides interest-free loans to people like Tracey. The aim of Moray is to help people avoid getting into unsustainable debt and where possible, to help them escape from it.
Moray provides interest-free loans of $1,000 to $6,000. You pay back what you borrow, nothing more.
To be eligible for a Moray loan you must:
- Be committed to debt repayment
- Be able to meet the weekly payments
- Be working with a Budget Adviser.
Are you feeling overwhelmed by debt that has grown out of control?
Do you know someone who is struggling with unsustainable debt?
Step 2: Contact a Budget Adviser and talk to them about a Moray Loan.
If you need to find a Budget Adviser MoneyTalks can help through their website or freephone number 0800 345 123.
Click HERE to visit the Moray Foundation Trust website.
(1The names and details in this scenario are fictitious but the situation described is not)