Debt Management Assistance FAQ

Please complete this form and we will call you back with a plan that best suits your circumstances. You will be under no obligation to take our advice, this is free of charge.

 

 

Until all debts have been paid in full. It may be a longer period than the original credit agreement. Yes. We strive to meet each customers own needs by assessing you individually tailoring a solution designed to best fit your circumstances. As we offer a range of solutions we can offer impartial advice as to the best course of action. This will depend entirely on your own circumstances. As we work out a monthly payment, based on your earnings and expenditure, it will be an afforadable amount which enables you to keep up with repayments. Although not obliged, most creditors/lenders seem happy to accept the proposals once they are aware that it is beneficial and agreeable to both you and them. No, as we are not actually lending you any money ourselves, you will not have to pass a credit check. We will send you statements at the end of each quarter showing all transactions on your account, showing how much each creditor has received and when. You will also receive statements from your creditors on receipt of payments. No, as we do not pay out any money to you or to pay off your debts this is not a loan. The debt management plan is a plan that allows you to pay off your own debts in accordance to what you can afford. No, to qualify for a debt management plan you only need to be earning a surplus income above what you need to live on? It makes no difference whther you are a tenant, living with your parents or a sole homeowner. As some debts are prioirty debts, such as mortgages and utilities, which tend to have serious consequences on non-payment these are taken into consideration. The residue amount is then left available to distribute to your other creditors A secured debt is a debt which includes secutiry against a particulat asset that you own. Typically a mortgage is a secured loan over your house. In contrast, an unsecured debt is any loan without security of an asset. An example may be an overdraft, credit card etc. It is not certain that creditors will not take any further action such as court action to recover debts but if they do we can help you to respond to make sure any repayment required is within your ability. As a debt management plan is an informal agreement it is simple to alter the plan if your circumstances do get better or if they worsen. A debt management plan is a flexible method and it suited to meet your situation. If a creditor refuses payments from a debt management company they cannot then take you to court for non payment. Some companies may disagree and prefer not to deal with us and apply pressure on you, however, you have the right legally to allow anyone to deal with your finances. /p>