When you initially contact us, we will run through an application form with you. All contact from your creditors must be passed on to us and we will do all the negotiation on your behalf, therefore reducing the stress on you. We will ask you how much you need to pay your mandatory monthly expenses such as council tax, utilities, food, rent etc. We will then work out an easier plan for you by contacting your creditors to reduce the payments. You will then make a single monthly/weekly payment to us and we will distribute the money between your creditors and send you a monthly receipt to show you how your payments are being distributed. We will also conduct regular reviews of your finances to see how your debts are being repaid.
What information do you require from me?
As much information as you can give us, even down the original credit agreements and as many of your recent statements as you can find. Any correspondence you receive from your creditors should be forwarded immediately on to us so it can be dealt with as swiftly as possible.
What are the charges for this service?
At debt-helper.com we have extremely low charges and we do not charge value added tax. Our base rate is £20 per month on a minimum monthly payment of £135 or under and 15% on all amounts above. Your counsellor will calculate the exact amount for you.
How long will the plan last?
Reducing your monthly payments will naturally extend the amount of time you will be paying back your debt. The advantage of a reduced payment plan is that payments will be easier to meet and smaller payments will reduce the stress on you. Also, you can pay off a little extra, helping to reduce the size of your debt and the length of the plan.
What happens if my circumstances change?
You should get in contact with your counsellor and we will adjust the plan to suit you. Whether you can pay less or more, we can always adjust your plan to suit you and your creditors.
Is my home at risk?
Debt management plans can only be arranged for un-secured debts. Therefore debts secured on your home must be dealt with in a different way e.g. a re-mortgage (to reduce interest). Our debt counsellors will assess your circumstances and recommend the right solution for you.
Will I need to tell me creditors I am on a financial management programme?
No, we will contact them on your behalf and verify the information you have sent us and we will let them know you are on a financial management programme with us.
Who do I contact if I have any questions?
You will be appointed your own debt counsellor. Do not hesitate to get in contact if you need any queries answering; submit your initial online enquiry and we will get back to you as soon as possible.
What happens if a creditor contacts me directly?
You should forward all correspondence on to us directly. All phone calls should be forwarded to us also. Once your creditors know you are on financial management plan they should stop hassling you and instead call your counsellor.
What will happen to my credit rating?
If you have been struggling financially then the chances are that your credit rating has already been damaged and your credit file has been amended accordingly. However, by going on our debt management plan and making your payments on time, you will start to re-build your credit rating given time by proving that you can make affordable payments.
