| ||
|
|
Debt Management Plan - From £12.50 per weekA Debt Management Plan can be used to resolve any problem you may have with your unsecured debts. You tell us who you owe money to, how much you owe and how much you can afford to pay each month. Then we take over. We negotiate with your creditors to agree affordable monthly repayments and we make the payments on your behalf. Your debts will steadily reduce until you have repaid what you owe. We will only recommend debt management plan to you if this is the right debt solution for you and we can do this because at DebtFC we specialise in every debt solution, so we don’t need to apply a 'one solution fits all' approach. DebtFC will negotiate to try to reduce or freeze any interest or other charges on your debts, although we cannot guarantee this. Your debt management plan is fully flexible and can be changed at any time to suit your changing circumstances and needs. We keep your debt management plan under regular review and, if we believe that an alternative solution has become available, we will tell you about it, so that you can make an informed choice as to what you want to do. At DebtFC we hope to help you on your journey to a debt free life.
The Debt Management ProcessA full assessment of your financial situation is carried out. To do this, we need to know your regular income and expenditure, who you owe money to (your creditors) and any other relevant information about your personal circumstances. By collating this information into a Financial Statement, we are then able to determine how much you can realistically afford to offer each of your creditors. Your creditors will then be approached and asked to accept the reduced payments. In most cases creditors are happy to agree the plans we initiate because they know, from experience, that such plans are realistic and sustainable. You then make a single monthly payment, which is distributed pro rata to your creditors. Throughout the duration of your plan, you will have an assigned debt consolidaton advisor whom you can contact should you experience any difficulties whilst the arrangement is in place. Your plan will be reviewed at regular intervals to ensure that it still meets your circumstances. The plan will continue until your debts are cleared or until you wish to voluntarily end the arrangement. Most common reason for this being an improvement in income enabling a client to leave the plan and revert to their original monthly payments. Advantages of Debt Management
Disadvantages of Debt Management
Debt consolidationDebt consolidation is the process in which debt is restructured into one low affordable amount which you agree to pay. At DebtFC we offer a range of debt consolidation options Scottish protected trust deed, individual voluntary arrangement (I.V.A), remortgage, debt management plan, homeowner loan, sell and rent back or perhaps bankruptcy (sequestration in Scotland) our experienced debt consolidation team, will discuss your options and provide you with free debt help and debt advice on how to deal with your debt problems. We are based in Livingston, West Lothian, Scotland but help people throughout the UK.
|