is a list of frequently asked questions. If you still have any queries
contact us and one of our friendly team would be happy to help you.
is a Debt Management Plan?
It is a plan
designed for those who are struggling to pay their creditors and to get
them out of debt. By working closely with our clients we agree on a monthly
payment amount that they can afford each month. Then we take over the
control of their debts and negotiate for all interest and charges to
be frozen leaving our clients with one affordable monthly payment.
quickly can the plan be set up?
As soon as you have agreed a payment schedule with an advisor
and you have made the first monthly installment we will take over the
running of your debts.
much does it cost?
To cover our administration costs we charge a 15% management
fee which is included within your monthly payment, subject to a minimum
of £25 and maximum of £100.
hassle is it for me to set up?
All you have to do is send our easy to complete form back to
us and we do the rest.
Do I need
to cancel my Direct Debits?
Our plan is based on us paying your creditors an agreed amount
every month. Any other payments to them that is not agreed in the plan
should be cancelled. We do not want you to pay your creditors twice. Be
careful not to cancel any other payments that are not on your plan.
What if my
creditors contact me?
This may happen initially as we set up your plan but as we will
be dealing on your behalf all you have to do is refer them on to us and
instruct them to deal directly with ourselves. Any letters should be
forwarded on to ourselves for us to deal with.
is my money?
All payments made to us are held in a non-interest accruing
client account that cannot be used for any other purpose than paying
I know my creditors are being paid?
You will receive a monthly statement from us showing who has
been paid and how much.
What if I
need to change my monthly payments?
We work around your circumstances and if they change so does
your flexible payment plan. We also conduct periodic reviews of your
file to keep up to date on your financial situation.
Is this a
Our debt management plan is not a loan. Taking out another loan
will increase your monthly payments and may get you back into debt. In
our professional opinion we would advise you not to take out another
loan. But if your circumstances change, we would happily advise you in
which direction to take your newly acquired finances.