Debt Solutions Limited administers and supervises debt management plans that our professional debt advisors recommend for clients that have found
themselves in severe debt through no fault of their own.
Debt Solutions understand that individuals that contact our debt advisor teams for help, advice and negotiate with creditors to
reduce monthly payments are in most cases severely restricted financially, and because of this we keep our management charges to an
affordable £30.00 per month. This fair and reasonable charge both allows individuals to pay off their debts faster, and allows us to provide the
important services listed below to all individuals:
| 1. |
Debt advisors conduct a fact-find of a clients circumstances by collating the personal information supplied by clients on the
online enquiry form on the company website, or, posting out to the client an information pack. The client completes the information sheet giving
details of all household income, household expenses, rent or mortgage costs, food costs, heating costs, water rates, council tax, travelling expenses
to and from their place of work etc. |
| 2. |
Details of all creditors the client owes money to, how much the client pays each month to the creditor. Details of all secured debts,
i.e. motor vehicle loan, mortgage etc. secured debts are loans against an asset such as a car or a house) |
| 3. |
Bank and/or building society (if you owe them money). |
| 4. |
Our debt advisors will then prepare a financial statement summery from the information above. This financial statement summery will show
how much money the client has left over once all living expenses has been deducted. |
| 5. |
Our debt advisors will then make contact with all the clients creditors to agree a reduced payment plan. They will ask the clients
creditors to freeze the interest and all late payment charges they levy against the client. After our debt advisors have discussed your situation with the creditors most of them will comply with our request. |
| 6. |
Once the clients creditors have agreed acceptance of the supervised debt management plan put forward by our debt advisors on the clients
behalf we issue the first payment to the creditors and then continue issuing a monthly payment as agreed until the debt is paid in full. |
| 7. |
Our debt advisors will send the client by post or email a confirmation that the payment has been made to the creditor. This confirmation will be for the clients own records in order for them to keep account of payments. |
| 8. |
Every three months over the course of the supervised debt management plan our debt advisors will send by post or email to the client a quarterly reducing balance statement that will show all payments to the creditors and how much is owed by the client to the creditor/s at that date. |
