If you have unsecured Debt that you are struggling to pay then a Debt Management plan could be used to resolve the problem. It is an informal arrangement for people who have a small disposable income or whose circumstances may change in the future.

We will negotiate with your unsecured creditors ( credit card companies, personal loans, overdrafts etc ) reductions in your monthly payments. You will then pay us one affordable monthly payment each month and we will distribute to your creditors on your behalf. It is our goal to negotiate with the creditors to freeze any interest or charges to your account.

Debt Management plans are very flexible and can be changed at any time, it is an informal arrangement and therefore you can cancel you debt management plan at any time with no penalty should you situation change.

A Debt Management plan is not a long term solution but it will give you breathing space while your personal financial situation improves, we will review your plan on a regular basis. This means you can make an informed decision as to your best course of action.

Don't let your debt problems get you down, take action now to call us and talk through your options.

Striking Numbers

£1m every 5 min – Growth in UK debt

£330m – Daily increase in UK debt

£56.234 – Average household debt (including mortgages)

£94.5bn – Amount of interest we pay each year

£1,400bn – Total UK debt

 

• Total UK personal debt at the end of November 2007 stood at £1,400bn.

• Average household debt in the UK is £8,956 (excluding mortgages).

• Average household debt in the UK is £56,234 (including mortgages).

• Average owed by every UK adult is £29,500 (including mortgages). £190 increase from previous month

• Average consumer borrowing via credit cards, motor and retail finance deals, overdrafts and unsecured personal loans has risen to £4,700 per average UK adult at the end of November 2007.

• Britain's personal debt is increasing by £1 million every 5 minutes.

• 60% of IVA's entered in to are by adults under the age of 30 and who are not homeowners

 

Source: Credit Action Today

 

Today in the UK:

• Consumers will borrow an additional £330m today

• The average household debt will increase by over £13.25 today

• 77 properties will be repossessed today

• 305 people today will be declared insolvent or bankrupt

• 2,750 County Court Judgements (CCJs) issued

• Bank and building societies will hand out £1bn in mortgages today

• Citizen Advice Bureaus will deal with 6,600 debt problems today

• The average car will cost £15.42 to run today

• More than 7,716 loan repayments are going unpaid every day

• The average home will cost £30 today to run

• £526m will be withdrawn from cash machines today.

• 24.5m transactions worth £1.4bn will be spent on plastic cards today

Source: Credit Action Today

 

• Assess your full financial situation to provide the best option available to you from a range of products we offer

• Allow you to gain control of your finances by initially putting you on a debt management programme

• Administer your account on your behalf

• Liaise with your creditors on an ongoing basis

• Receive one monthly payment from you and distribute it to the creditors accordingly

• Review your file every three months to see there is another solution available to you

Product Options

• Debt Management

• IVA's

• Trust Deeds (Scotland only)

• Sale and Rent Back

• Full and Final Settlements

• Remortgage

How do they work to suit you?

Debt Management

• allows you to gain financial control of your situation, pay your household debts and your unsecured creditors at a reduced amount suitable to you.

• allows you to bring household arrears payments, such as your mortgage, up to date to prevent losing your home, whilst making minimal payments to unsecured creditors.

IVAs/1 day IVA/Trust Deed

• give you an end date to the situation you are in and allows you to gain control of your finances in a formal arrangement with the creditors lasting 60 months

Sale and Rent Back

• gives you the option to sell your property to a BTL investor, remain in the property by paying monthly rent and use the equity to pay off your debts.

Full and Final Settlement

• allow you to pay off your debts at a reduced rate based on the capital you available.

Remortgage

• allows you to release equity from your property to use to pay your debts off at a reduced rate

 

 

We can and we will help you gain control of your finances.

Our aim is to find you a LONG TERM SOLUTION

to free you of debt all together

If you have any problems please contact us.

0845 260 22 10

The Business Money Partnership trading as the Commercial Mortgage Packager is an Appointed Representative of Guardian Debt Management Ltd