Trust Deeds – Scotland
Free from debt in 36 months, with up to 90% of the debts being written off, legally. This is a proven method of resolving debt problems, which will leave you in control of your finances. More than 2 creditors? The Trust Deed will give you protection from further creditor harassment.
more...IVA’s – England
Debts in excess of �15,000, more than 3 creditors, and disposable income �200 + per month. A Fixed term of 60 months, after which remainder of debts are written off, with legal protection from creditors.
more...Debt Management Plan
How Will Debt Management Work for me?Debt management can be an option either short term; this would allow some breathing space until you are back on track with your finances, or slightly longer term to enable you to pay off all debts.
Sometimes that is all you need to allow you to step back and assess your finances.
Are you constantly juggling your finances every month? Bank charges keeping you in the �red�? We can REVIEW this for FREE and help you recover bank charges from last 6 years.
If you have debts of less than �10,000, and have a disposable income of less than �200. This might be the best plan for you, in some cases interest can be frozen for a period of time (usually 6 months).
more...Bank charges
NO WIN NO FEEHave you been the victim of unfair and behaviour by your bank or insurer? Call us now (0800 032 9859) to talk over how you can reclaim bank charges, credit card charges, loans insurance/PPI and even mortgage fees...
There are estimated 20 million policies in the UK with Credit Cards, Loans etc� You may not even know what PPI is. If you have a credit card or loan there is a fair chance that you will have this.
PPI, (Payment protection insurance) is the insurance that is sold when you enter into an agreement with a loan company or take out credit cards, store cards and debt products such as car finance agreements, this is supposed to cover the repayments if you can't make them.
This may be because of an accident. Illness, whereby you are unable to work and therefore unable to meet your monthly commitments, loan repayments etc. It may be redundancy, the PPI insurance is there to ensure your payments are met on time.
It is extremely poor value for money, and any potential benefits more often than not outweigh the huge cost.
Most PPI is often sold to people that for various reasons can never claim on it. This should be highlighted before you even sign for this cover.
Under the terms of PPI, policies are so tightly drawn so that most of the instances where people hope to claim are not covered. For example most PPI will not cover you if you are self-employed and unable to work.
Retired, you will find you are not covered, if you have to stop working because of a medical condition that you did not explain, or were not asked about, when you took the insurance. Stress, back pain, again you will find it will not cover you if you are unable to work because of these two conditions in particular.
The Office of Fair Trading says that just one in five claims on PPI are successful.
In the worst cases, already expensive PPI is paid for up front and the money to pay for it is added to the loan you are taking out. This way of selling PPI, known as 'single premium', means that you end up paying interest on the cost of the insurance. When customers go to cancel the insurance they are told that it cannot be cancelled without recalculating the entire loan.
Some unscrupulous companies will resort to forcing customers into buying it. Telling customers PPI is compulsory when it isn't. They have been known to refuse to quote the cost of a loan without the insurance attached, making it impossible for customers to truly understand how much it will cost them.
It may have been added without your permission.
Your claim for compensation is dependent on when you took the insurance. PPI sales only came under the jurisdiction of the FSA in January 2005. Any sales made before then are not covered by the latest FSA rules.
It may however still be worth complaining to your lender if you feel you have been mis-sold. If you were sold PPI by a bank or building society before January 2005 it is likely that they will have been covered by a previous regime of rules. This means that the Financial Ombudsman Service will be still be able to consider these complaints.
Bankruptcy and Sequestration
Bankruptcy is now usually discharged after 12 months in England. This is a serious route and should only be considered if all other routes have been exhausted. There is a cost involved if you do this yourself. It may be worth waiting until one of your creditor’s petition for your bankruptcy.
more...Sequestration – Scotland (Equivalent to bankruptcy in England)
This is still 3 years in Scotland, and you must meet certain criteria, unlike England where you can petition for your own bankruptcy. There is a small cost involved. It may be worth waiting until one of your creditor’s petition for your bankruptcy.
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