What happens when I apply
online?
Upon filling out an application form, one of our
advisors will contact you to determine the best way we can help
you and answer any questions you may have. If you agree to join
one of our programs, an agreement will be sent to you that allows
our staff to negotiate with your creditors.
You will NOT be charged for an enquiry and are
under NO obligation whatsoever.
How much will I have to pay?
You decide on our advice, on a single affordable monthly (or weekly)
payment
What do you do?
We negotiate with your unsecured credit companies to reduce your
monthly payment and request them to freeze or reduce their monthly
interest charges. We will then take a single monthly payment form
yourself and pay your creditors on your behalf. This will make managing
credit payments towards your far simpler.
How do I know I'm getting the best advice?
We are Licensed under the 1974 Consumer Credit Act and, as such,
any debt management and IVA advice we give must be ethical and professional.
We also adhere to the Data Protection act to ensure client confidentiality.
How do I know my debts are being paid?
We will apportion any payments received from you for distribution
between your creditors based on how much each is owed. We will issue
a statement showing how much each creditor will receive. This remains
fixed unless your circumstances change. We will also issue a quarterly
statement showing all transactions on your account. In addition
to this, you will still receive your statements from your creditors.We
distribute funds within a week of them clearing.
What is the charge for this debt management service?
As stated earlier, you will pay only one affordable monthly payment.
Included within this payment will be a 17.625% distribution or debt
management charge. Because most of our work for you will be done
at the start of the programme, we will retain the first monthly
payment to cover this costs. (i.e. it will not be initially used
to pay your creditors)
Will this affect my credit rating?
Possibly. As you are currently experiencing difficulties paying
your debts, it possible one of your creditors has already recorded
adverse finding against you. However, by joining the programme we
ensure a regular monthly payment is made to each of your creditors.
What happens when I apply for an IVA?
If you would be best served by entering into an IVA, we do all the
preparatory work for you. After the initial steps have been taken,
and we believe you meet the criteria for an IVA,
we then pass your case to our own in-house Insolvency Practitioner
(IP). Our IP then acts on your behalf in all correspondence with
your creditors and the preparation of you financial statement, once
the case is underway.
How can an Insolvency Practitioner help me?
Our Insolvency Practitioner, with your help, will produce a written
proposal. This will be sent to your creditors in advance of a pre-determined
creditors meeting, usual held at the Insolvency Practitioners offices
in the absence of both yourself and your creditors. (You do not
have to attend a Creditor’s meeting.) Once your proposal has
been finalised our IP, if he deems necessary, will apply to your
local County Court for an Interim Order. The Interim Order provides
you with valuable protection against debt enforcement such as CCJ's,
Attachment Orders, and even Bankruptcy Orders.
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