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Sorry - where is the common sense?
Person had already defaulted on debts prior to being made redundant...
.... and wanted to raise £25,000 for 'minor home improvements' (who would spend £25K on MINOR improvements when the proprety value is only around £260,000!!) - thereby increasing debts costs when their income was likely to be simialr to as at was prior to redundancy.
Surely the better option would have been 'repay what you owe' and avoid getting into further debt?
Sorry - I can't beleive this Case Study is either true - or it actually demonstrates appropriate advice hasn't been given!
In other words - just because you can do something, doesn't mean you should.
Customer needed a common sense solution to cover their NEEDS - not put them more in debt to give them their WANTS (I am guessing, if it did happen, it covered next years holiday costs???)
