- You can be debt free in 36 months
- Only pay what you can realistically afford
- Freeze interest and charges
- We can stop all further communication & action from creditors towards you
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Archive for April, 2010Scottish Protected Trust Deed (PTD) – Debt Help Line 0800 007 5307Monday, April 26th, 2010Scottish Protected Trust Deed (PTD)
A Trust Deed is a solution to debt and a real alternative to Sequestration (Bankruptcy in Scotland). A Scottish Protected Trust Deed often known as a PTD is an arrangement between you and your creditors, usually over three years.
At the end of a Trust Deed the balance of any unpaid debts is written off.
Under legislation, once protected a Trust Deed is legally binding on all your unsecured creditors.
The terms of your Trust Deed are tailored to your own personal circumstances.
DebtFC will assess your situation and prepare your proposals and deal with your creditors. If your creditors do not object, the Trust Deed will become protected – that means your creditors are prevented from taking any further action as long as you keep to the agreement and you’ll be debt free, this is usually in 36 months. Call our debthelpline now on 0800 007 5307 or email info@debtfc.co.uk
Business Opportunity at DebtFC – earn 50% commissionWednesday, April 21st, 2010Debtfc.co.uk is looking to build up a network of Introducers who can refer people with Payment Protection Insurance to DebtFC. Introducers will earn 50% commissions on all successful client claims. We believe this is the best commission rate available in the industry by far. An Introducer may be for instance a Recruitment Company, Letting Company, Mortgage Advisor, an Independent Financial Advisor, an Accountant, or a Call Centre, in fact anyone who is in contact with people and who is in a position to discuss payment protection insurance claims with their clients. The Introducer can ask the client if they have any PPI on any of their loans and credit cards, and if they do, it is possible that it has been mis-sold, often the client will not know they even had PPI. Once the Introducer refers the client to DebtFC they then take over and handle the claim, in house, and once compensation is paid, the Introducer receives their 50% commission. This can typically be hundreds of pounds for each PPI case they refer, and is usually paid out between 8 to 10 weeks of the case being started. Its a really good add on for any business or individual to earn extra cash, often with little effort, as once the PPI case has been identified, DebtFC handle the case and process it through to completion. DebtFC has found that often people don’t understand what the PPI they have been sold is for, or how to go about claiming it back, it can be time consuming and frustrating if you don’t have the expertise, as lenders will often reject claims, made by the individual, and this stops them claiming the compensation they deserve. Here at DebtFC we are committed to fighting for the consumer and are very successful when it comes to PPI claims. DebtFC forwards 50% commission to the Introducer, many Introducers for other companies typically get 10% to 12% so this 50% is a fantastic way to earn more revenue for little effort, a great add on for those with a client database to work through or who are in regular contact potential clients. Do you or did you have a mortgage with Kensington Mortgage Company?Monday, April 12th, 2010Kensington Mortgage Company Limited fined £1.225m
The Financial Services Authority (FSA) has today announced it has fined Kensington Mortgage Company Limited (Kensington) £1.225 million for poor treatment of some customers facing mortgage arrears.
The firm has agreed to redress customers who were in arrears and charged specific unfair and/or excessive charges. It is estimated that the redress will cost the firm up to £1.066 million.
The FSA has identified a number of serious failings by Kensington which occurred between 1 January 2007 and 31 October 2008 in relation to its mortgage arrears handling processes and in its dealings with customers in arrears.
These include:
- Failing to ensure mortgage servicing staff acting on its behalf had adequate understanding of treating mortgage arrears customers fairly;
- Concentrating on the repayment of mortgage arrears over a short period of time rather than agreeing an arrangement to pay the arrears based on the customer’s individual circumstances;
- Applying three charges to customers’ accounts that were unfair and/or excessive. These were:
- A fee for a returned direct debit which was charged regardless of how many times the direct debit had already been returned unpaid;
- An excessive fee for cancelled direct debits which did not reflect administrative costs;
- An early repayment charge on mortgage balances which included arrears fees and charges within that balance.
The firm also failed to take reasonable care to organise and control its affairs responsibly and effectively, and to ensure adequate risk management systems. Its management information focused on the performance of the firm’s mortgage book and the profitability of the business, rather than on treating customers fairly.
Kensington qualified for a 30% discount under the FSA’s settlement discount scheme. Without the discount the fine would have been £1.75 million. The FSA has also taken into account that Kensington has made significant improvements to its arrears and repossession processes since the early part of 2008.
Margaret Cole, director of enforcement and financial crime, said:
“This case should serve as a strong reminder to firms dealing with retail customers, especially customers in a vulnerable position such as those with mortgage arrears, that the FSA will take robust action where it sees that customers are not treated fairly. Retail firms which fail in their obligations to customers should expect not only a substantial fine but also that they will have to pay back customers who have been disadvantaged.
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