If you or someone you know is struggling with debt or just needs some assistance to budget let us know. We have access to various resources that we can share. If the situation is more serious we are able to refer people on to specialist companies who can assess clients for Debt Management plans, Full and Final Settlements or Individual Voluntary Arrangements ( IVAs) which could lead you to becoming debt free in 5 years.
If you are already affected by the 'Credit Crunch', or if you are worried that financial problems may become an issue for you, then please get in touch as we may well be able to assist you.
Please contact us us for further information about the range of third party agencies that we could refer you to for assistance.
A brief overview of some of the solutions available are shown below.
A debt management plan is a financial solution that would allow you to make affordable monthly payments your creditors , without having to borrow more money. It may be possible to negotiate with your creditors in order to reduce your monthly payments and freeze interest so that you are able to clear your debts faster.
A full and final settlement is where a creditor is contacted and asked to accept a lump sum payment as a reduced settlement on an outstanding debt. The level of the reduced settlement is dependant upon the creditor , the type of debt and your individual circumstances. By accepting a reduced lump sum payment the creditor agrees to write off any outstanding debt.
An IVA is a legally binding agreement that enables debtors to put a proposal to their creditors which, if accepted, will allow them to make one monthly affordable payment, usually for 5 years. The agreement takes account of and allows for all reasonable living costs to be maintained. This solution is only available to individuals residing in England, Wales or Northern Ireland. Alternative arrangements are available to residents of Scotland.