In what was a noble aim to raise money for a rural school, seven Spanish mothers found themselves in a debt management nightmare after poor sales of their racy calendar left they with a multitude of debts.
According to a report in the Daily Mail, seven middle aged Spanish mothers have lumbered themselves with a debt management crisis after copies of their calendar failed to rouse many purchasers. After their risqué calendar hit the shops, hoping to raise funds for a rural school, the sales figures have been decidedly uninspiring and the Spanish senoritas have saddled themselves with 5,000 unwanted copies of the calendar and debts aplenty.
Debt Management – Trial by Error
The Spanish calendar was thought to be a good idea after a group of British women created a discreetly saucy calendar of their own which raised over £1 million for charity and was made into the successful film, ‘Calendar Girls'. For the Spanish equivalent, however, the only result was a debt management crisis and a raft of unwanted stock. According to the report in the Daily Mail, their debt management problems are largely the result of inexperience in the marketing and sales arenas. The calendar did initially prove popular but a breakdown in communication led to them missing the Christmas market and sales soon dried up, leaving them owing their printer £8,000. Speaking to the Daily Mail, one of the models who posed for the calendar, Rosa Garin, stated, "The sad part for us is figuring out what to do with them because it is not something you can recycle." This debt management debacle was caused by mis-management but may be resolved now that international media outlets have picked up on the story which will undoubtedly generate interest in their debt problem.
Debt Management – Debt Laid Bare
In the case of the Spanish ladies whose calendar proved to be a financial disaster, it may have helped them to seek a debt management plan provided by financial specialists who can create proposals to pay back debts in a manageable way. Many people in the UK will be faced with debt management problems of their own in 2008 and record numbers are expected to utilise financial preservers such as an individual voluntary arrangement (IVA) which is a legally binding contract between debtor and creditor to repay their arrears in an agreeable time frame and at a level which is financially viable.
Speak to Varden Nuttall About Debt Management
Varden Nuttall has been established for over 15 years and is dedicated to helping people in financial difficulty find a debt management solution through an Individual Voluntary Arrangement (IVA). Employing 90 people, including trained and skilled IVA administrators, we are one of the largest IVA companies in the UK and handle over 3% of all IVA applications. To find out more about the company, or to make an appointment to talk about putting an IVA in place, call us today on 0870 977 8100 or fill in our online enquiry form