Debt Management
People get into debt for many reasons and the majority of people are not in a debt position for being reckless with credit cards or loans. In most cases people get into debt due to a change of circumstances such as losing their job, illness or a divorce or separation.
Services provided by Debt Stop Direct Ltd will incur charges please see our FAQ's for more information.
The benefits of Debt Management
Are we qualified?
We at Debt Stop Direct are one of the first few regulated debt management companies to have staff take and qualify in CertDR (Certificate in Debt Resolution)
CertDR is accredited by the UK examination board of Edexcel and has been welcomed by regulators of the industry such as the Office of fair trading, Ministry of justice, Insolvency service and the Insolvency Practitioner Association.
This means the staff you talk to are highly knowledgeable and qualified to give the correct and fair advice regarding debt solutions
The cons of Debt Management
The following list is a guide to the types of debt that can be included on a Debt Management plan.
We will help ensure you give priority to debts that will have more serious consequences if regular payments are not maintained. These types of payments must be made directly from you. When we start assessing your finances we will take into account these priority debts and an allowance for day to day living.
A Debt Management Plan is an agreement that is arranged between you and your creditors. We look after this plan for you and help you repay your debts at a monthly rate that you can afford.
To find out more about Debt Management call us today or complete our online enquiry form.
Conditions apply please click this link for more information
For more information on the various debt solutions available to you please read the document on the following link In Debt? Dealing with your Creditors
People get into debt for many reasons and the majority of people are not in a debt position for being reckless with credit cards or loans. In most cases people get into debt due to a change of circumstances such as losing their job, illness or a divorce or separation.
Services provided by Debt Stop Direct Ltd will incur charges please see our FAQ's for more information.
The benefits of Debt Management
- Consolidate your debts into one affordable monthly payment
- We aim to freeze or reduce interest and charges
- We will deal directly with your creditors on your behalf
- Regain control of your finances
- Confidential help & debt advice
- Fair and open way of sharing payments, widely understood by creditors.
- We will help you prepare your plan, including agreeing the level of your household and personal spending based on guidelines, which can then be used to put your case to the creditors
- You may be able to vary your payments if your circumstances change.
- You make single payments each month to Debt Stop Direct and we will be responsible for administering all payments to your creditors.
- Creditors may be prepared to write off the balance of what you owe after a period of time if you have shown that you have made every effort to repay them as much as you can and you have maintained regular payments to the debt management company.
Are we qualified?
We at Debt Stop Direct are one of the first few regulated debt management companies to have staff take and qualify in CertDR (Certificate in Debt Resolution)
CertDR is accredited by the UK examination board of Edexcel and has been welcomed by regulators of the industry such as the Office of fair trading, Ministry of justice, Insolvency service and the Insolvency Practitioner Association.
This means the staff you talk to are highly knowledgeable and qualified to give the correct and fair advice regarding debt solutions
The cons of Debt Management
- You remain liable to pay your debts until they are paid in full.
- You may not be able to make reduced offers if your circumstances worsen and you can no longer afford your agreed monthly payments.
- We can’t force creditors to accept your proposal or freeze interest. A plan is not binding on creditors who refuse to take part in it, but they can’t refuse to accept any payments made to them we will however use our vast experience to work towards agreements
- Creditors could still take enforcement action against you, for example by getting a county court judgment
- A plan can last for several years. However, some creditors may be prepared to freeze interest for only a shorter time. If interest and charges cannot be frozen for the full length of the plan, then the total amount you end up paying under the plan could be more than the original amount of your debts, and could extend the lifetime of the plan.
- Your credit file can be effected for up to 6 years after the completion of the Debt Management plan
The following list is a guide to the types of debt that can be included on a Debt Management plan.
- Unsecured Loans
- Credit Cards
- Store Cards
- Catalogue
- Over Drafts
- Secured Loans
- Mortgages
- Hire Purchase (HP)
- Driving Offences
We will help ensure you give priority to debts that will have more serious consequences if regular payments are not maintained. These types of payments must be made directly from you. When we start assessing your finances we will take into account these priority debts and an allowance for day to day living.
A Debt Management Plan is an agreement that is arranged between you and your creditors. We look after this plan for you and help you repay your debts at a monthly rate that you can afford.
To find out more about Debt Management call us today or complete our online enquiry form.
Conditions apply please click this link for more information
For more information on the various debt solutions available to you please read the document on the following link In Debt? Dealing with your Creditors
