Debt Management Qs & A’s

Here are the answers to some commonly asked questions.

Being in debt can be complicated and confusing at the best of times. We have placed a number of answers to commonly asked questions here. If there is something more that you would like to know please contact us on 0800 027 9595 and an advisor will be more than happy to answer any questions that you might have.

Can I use Debt Management if my debts have gone to court

A. Yes. That is no problem at all. If County Court action is being threatened or if one or more of your debts have already gone to court and you have been issued with County Court Judgements, we can certainly deal with them.

I have County Court Judgements, but the payments are too high

A. This is a common problem. Court papers can be a little confusing if you have never seen them before, we can go back to County Court and request that the repayments are reduced.

I am a tenant. Do I have to be a home owner to use Debt Management?

A. There is no restriction to who can use Debt Management as long as the debts are UK based and signed under the Consumer Credit Act.

Do you lend me money to pay back debts?

A. No. We do not lend any money at all. Debt Management is a way of repaying your debts at a rate that you can afford and without the need of further borrowing. We get repayment plans in place with your creditors based on what you can afford, you make one lower monthly payment to ourselves and we distribute this to your creditors.

Can I add other debts to the debt management plan later?

A. Yes. It is not uncommon for our clients to add other debts while they are using the Debt Management Plan. All you have to do is download the “ Add Creditors List” on our website and fill it in and forward it on to us. If you have any paperwork or recent post you can send that onto us, as it will help in getting the arrangements in place as quickly as possible.

Will I be in a contract with you?

A. No. We don’t place anyone into a contract with ourselves.  We find that our customer service and attention to detail is enough to persuade our clients to stay with us. If you find yourself in the position of wanting to leave the Debt Management plan, you can do this at any time without charge or penalty.

What is a Default Notice?

A. A default notice is issued by your creditor and means that you have defaulted on the original terms and conditions that you entered into when you signed the original contract. Once reduced payments start going through to your creditors, it is quite standard for this to be issued.

Will I have to fill out any complicated forms

A. No. We will ask you to sign an authority form which will give us the right to act on your behalf, the rest of the information will be filled out by your debt advisor over the phone.

I have Council Tax Arrears. Can you deal with this for me?

A. We cannot place the Council Tax Arrears on to the Debt Management plan but we can talk to the council on your behalf to get an arrangement in place. We can then take that payment into consideration when working out what you can afford to pay your creditors building it in as a monthly essential. This will allow the council tax arrears to get paid off while reduced payments go to you remaining creditors.

Can we have a joint Debt Management Plan

A. Yes. If you both live at the same address you will have income and expenditure in common, so both you and your partner can go onto the same Debt Management Plan.

I am on a Debt Management plan with another company, can I change to you?

A. Yes. Changing Debt Management Companies is straight forward, all you have to do is give us a call and we will do the rest.