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Reduce Monthly Payments
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Write
Off a Percentage of Unsecured Debts |
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Potentially
Freeze Interest and Reduce Other Charges
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One
Affordable Monthly Payments |
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Tenants and Homeowners
welcome |
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Online since
2001 - Helping 1000's of UK people & families resolve debt
issues each year |
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Debt Management,
IVA, Trust
Deeds &
Bankruptcy
specialists... |
...working to find the right solution for you. |
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Debt Management Plan (DMP)
Debt management is a plan to help
you manage your debt problems. Depending on your circumstances
and how much you owe. A DMP might be the right solution,
enabling you to repay your debts at a lower rate. This can
provide short term relief and help you to sort out your
finances.
Unlike an IVA, a Debt Management Plan is
an informal agreement with your creditors and is not a legally
binding contract. You can stop the plan at any time as your
financial situation changes.
With a Debt Management Plan or
DMP, you agree to pay a single monthly payment towards your
debt, your creditors are dealt with for you and new repayments
will be negotiated and some creditors may even agree to freeze
or reduce interest. |
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An example
Debt Management breakdown... |
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Credit card 1 |
£6,500 |
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Loan |
£5,500 |
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Store card |
£2,000 |
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Credit card 2 |
£3,000 |
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Total
Owed |
£17,000 |
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Current Monthly Payment |
£600 |
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Payment with
a Debt Management Plan |
£250 |
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Repayments will be lower but over a
longer period. A DMP can be very useful – particularly if you
owe over £2,000 and can make regular payments every month.
What are the criteria for a Debt Management Plan?
• 2 or more creditors
• Over £2000 of debt
• A minimum disposable income of £80
• Proof of income
Your credit rating and ability to obtain credit will be affected
in the short term and possibly in the medium to long term,
though your credit rating may already be affected if you have
missed or made
late payments.
In line with the
Consumer Protection
Regulations 2000 you will have a cooling off period of seven
working days from the date the DMP commences, during which you
may cancel.Our friendly
advisors can give you more information about whether a Debt
Management Plan is right for you.
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...you
too could be 24 hours away from a brighter future! |
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IVA**
Write off a percentage of unsecured debts?
An IVA is a legal agreement which works
as an alternative to bankruptcy.
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An example
IVA breakdown+...
...which had
61% of debt written off and on
average the monthly payments were reduced
by £603 |
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Credit card 1 |
£1,260 |
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Loan 1 |
£15,000 |
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Loan 2 |
£8,900 |
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Credit card 2 |
£5,900 |
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Total
Owed |
£31,060 |
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With an IVA Plan |
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60 Monthly contributions
of |
£200 |
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Total paid |
£12,000 |
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Write Off |
£19,060 |
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PROTECTED TRUST DEEDS
The Scottish
equivalent of an IVA
BANKRUPTCY**
• If you have a very low disposable income
• If you cannot afford to make repayments on your debts
We know that
Bankruptcy is usually a last resort,
but there are other options available. Talk to an adviser now.
Get confidential
help and advice and start getting your life back on track
TODAY
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