Debt FAQs

1. How does debt management effect my credit rating?
If you employ the services of a debt management provider it is not reordered on your credit file. If you are making reduced payments then this likely to reduce your ability to get unsecured credit in the short to medium term. As we make applications to get income/charges frozen they will not accept offers if someone to takes on additional lending. Programmes are designed to get people out of debt.

2. Will my creditors accept the offers?
English law states that unsecured creditors are only entitled to what someone can reasonably afford to pay. We provide all creditors with a comprehensive breakdown of income and expenditure. Creditors are only entitled to disposable income after all your essentials have been met. This is the amount we distribute on your behalf. It is against the terms of a creditors trading license, as issued by the Office of Fair Trading, to not accept our payments.

3. Am I contracted for a set amount of time?
A debt management programme is a service that we provide for as someone requires it. An IVA it lasts for 60 payments.(60 months)

4. How do I know that my creditors have been paid?
Each month you get a receipt and a breakdown of all the payments made.  

5.How much support do I get?
A dedicated advisor handles your file.