Debt Management Plan

Are You Struggling with Debts?

We remove the hassle, and handle the entire debt management plan on your behalf, and possibly freeze all your interest. Don?t Delay! Contact us Today! Request a FREE call by completing the following form: Tel: S. Singh on 07956 236522
Introducer for Credit Claim Helpline Ltd

Debt Management help and expert advice

We provide free, confidential debt management advice and could help you to:

• Clear your debts without the need for a loan
• Have one affordable monthly payment
• Reduce or freeze interest and charges
• Stop demands from your creditors

Your questions answered:

What is debt management?

A debt management plan is an arrangement between you and your creditors which allows you to repay unmanageable debts with a lower and more affordable monthly payment.

How does the process work?

It starts when you go through your income and expenditure with us, so we can calculate how much you can actually afford to put towards your debts each month, after you have allowed for your essential expenses (mortgage/rent, food, utility bills, etc.). Once agreed we will negotiate with your lenders to try to agree on a repayment plan, you simply make a single monthly payment to us and we will distribute fund as agreed.

Whilst we cannot guarantee they will agree to it, our experience and reputation means we have strong relationships with the creditor industry and we have an excellent success rate. We will work on your behalf to show that your offer is fair and reasonable and the best way to ensure you will be able to make regular payments towards clearing your debts in the shortest possible time. We will keep you fully informed at all times and deal with all the paperwork and phone calls for you.

We will also go back to your lenders regularly to renegotiate your repayment plan as and when any change in your circumstances makes this necessary.

How long will it take to pay off my debts?

This can vary, based on how much you owe and how much you can afford to pay each month once your essential costs (e.g. mortgage/rent, food and utility bills) have been covered.

It will take longer to repay your debts if you reduce the amount you pay each month, but your debts will be much easier to manage on a month-to-month basis.

We will aim to keep your payments affordable whilst helping you repay your debts in the shortest possible time.

What will I get with my debt management plan?

As well as your own dedicated expert taking care of your debt repayments, we can offer the following benefits:

• A scheduled repayment plan
• All communications with your creditors taken care of by us
• On-going updates and communication regarding your repayment programme
• Regular reviews of your situation

How can you help to deal with my creditors?

When you enter into a debt management plan with us, we will negotiate for reduced monthly payments on your behalf. We may also be able to negotiate a freeze or reduction in interest and other charges, meaning more of your lower payment goes towards reducing your balance.

Once your debt management plan begins, we will also handle any correspondence between you and your creditors.

Will I have someone to help me all the way?

On our debt management plan, you will have your own Personal Finance Manager (PFM), who will act as a point of contact between you and your creditors, as well as answering any questions you may have throughout the duration of your debt management plan.

Debt example

Here is an example of how a Debt Management Plan could make your debts affordable:

Let's say your debts looked like this:

Creditor A: £ 8,000
Creditor B: £ 6,000
Creditor C: £ 3,000
Total debt: £ 17,000
Current monthly repayment: £ 600
After a Debt Management plan:
New monthly repayment: £ 250
New monthly repayment is based on affordability and varies from plan to plan.

Debt Solutions

Personal debt is a common issue in the UK. If you are struggling with mounting debts, you are not alone.

Credit Claim Helpline offers a range of debt solutions designed to deal with your financial problems.

How many different debt solutions are available?

Credit Claim Helpline offer a range of debt solutions, depending upon your own personal circumstances. These include informal debt management plans, an IVA, trust deeds and full and final settlement.

Which debt solutions will work for me?

That depends entirely on your personal circumstances. At Credit Claim Helpline, we will only recommend debt solutions that really are right for you. This will depend on a number of things such as your income, whether or not you own your own home, your total outstanding debts and the number of different creditors you owe money to.

Are debt solutions only available to homeowners?

Not at all. We have debt solutions available for both homeowners and non-homeowners alike. You don't have to own your own home in order to be able to resolve your debt problems.

Bankruptcy

Are you considering bankruptcy? Are you absolutely certain that bankruptcy is the best solution to your debt problems?
If you are experiencing debt problems, Credit Claim Helpline can assess your personal circumstances and advise you on what the best way to proceed is. We offer a range of debt solutions, many which are realistic alternatives to bankruptcy for some individuals.

How to Avoid Bankruptcy

If you are eligible for one of our other debt solutions, we would realistically help you to avoid bankruptcy.

Total UK personal debt -Debt Facts and Figures - Compiled February 2010

Total UK personal debt at the end of December 2009 stood at £1,460bn. The twelve-month growth was 0.7%.

Increase in Government national debt

Total lending in December 2009 rose by £1.2bn; secured lending increased by £1.2bn in the month; consumer credit lending increased by £0.1bn - the first increase since June 2009 (total lending in Jan 2008 grew by £8.4bn).

Total secured lending on dwellings at the end of December 2009 stood at £1,234bn. The twelve-month growth rate was 0.9%.

Total consumer credit lending to individuals at the end of December 2009 was £226bn. The annual growth rate of consumer credit remained at - 0.5%.

Average household debt in the UK is ~ £9,000 (excluding mortgages). This figure increases to £18,722 if the average is based on the number of households who actually have some form of unsecured loan.

Average household debt in the UK is ~ £57,937 (including mortgages).

If you add to this the December 2009 pre budget report figure for public sector net debt (PSND) expected in 2014-15 (excluding financial interventions) then this figure rises to £116,390 per household.

Average owed by every UK adult is ~ £30,252 (including mortgages). This is 129% of average earnings.

Average outstanding mortgage for the 11.1m households who currently have mortgages now stands at ~ £111,132.

Britain's interest repayments on personal debt were £66.0bn in the last 12months. The average interest paid by each household on their total debt is approximately £2,620 each year. According to PwC the average household will need to spend approximately 15% of net income purely to service the interest payments arising from this debt.

Average consumer borrowing via credit cards, motor and retail finance deals, overdrafts and unsecured personal loans has risen to £4,692 per average UK adult at the end of December 2009.