Desperate to clear debt, Anne was told that a property investment seminar would change her life. It certainly did, but not for the better.

After some very enticing talks, Anne was persuaded to invest £6,000 in a three day property investment seminar.

The budding property tycoon was encouraged to buy four flats in three different Glasgow developments before the properties were even ready for tenants. The properties that she bought accumulated a large debt whilst they remained empty.

Anne explains that tenants were extremely difficult to find and that the properties were not eligible for the rental payments that the valuers’ had promised. As a result, she was left to foot the bill for the remaining rent and amassed a huge sum of debt on her credit cards by relying on them to keep up repayments.

When tenants eventually moved into her properties, she still found it difficult to cope as she failed to receive the rental income that the property investment company misleadingly exaggerated. She was quoted a comfortable monthly sum of £3350 from the properties when in actual fact; she only managed to secure a pitiful £2650.

Eventually, the debt became too much for Anne to cope with and the properties were repossessed by Bradford and Bingley. The flats are now being sold for far lower than she bought them for. Her mortgages amounted to £754,500 but the properties were sold for only £454,000 leaving her with a total debt of £300,000.

Anne has since been told that she could face bankruptcy as she has also fallen behind with repayments on her own home.