Bankruptcy And Debts

Many lenders will freeze interest charges when dealing with fee-free debt managers. This they do this because they can see that you are making a genuine effort to pay your debts and are doing so with the assistance of a professional organisation. consolidation debt mortgage

How much can I reduce my monthly payments by

This will depend on how much you are paying at the moment and how long you want to take to repay the loan. But reductions in monthly payments can be as much as 75%. consolidation debt quote

How much can I borrow

There are a variety of factors which dictate how much you can borrow. Whilst your income and, for secured loans, the equity available in your property are key, the main one is that you can afford to make the monthly repayments. We can arrange loans from £3, 000 up to £1 million. consolidation debt lead

Over what length of time can I spread my repayments

This is entirely up to you and will depend on how much you can afford each month. Our loans are usually available over 3 to 25 years, though some mortgages can be spread over 47 years. consolidation debt non profit

Can I use the loan for more than debt consolidation

Certainly. Consolidating your existing credit allows you to free up money for other things. You can borrow extra for that new car, boat or caravan, to pay for your dream holiday or so you can have the new windows or conservatory put in. The choice is yours, as long as you do not over-borrow. consolidation debt loan online

What if I have an accident, am ill or get made redundant

We can arrange optional accident, sickness and unemployment cover if you want the added peace of mind this brings. Life assurance is also available. consolidation debt home loan

Can I move house if I want

Absolutely. If your consolidation loan is secured against your house then you can use the proceeds of the sale to pay the outstanding balance of the loan or, where you are moving to another property, you may be able to transfer it to your new home. Either way, contact us and we'll help you decide on the route which is most suitable for you. christian consolidation debt

Who can be helped

Because of the costs of setting up an IVA, it is only practical to obtain one if your debts exceed £15, 000 or so. consolidation debt information

Will I lose my house

No. But should you have equity in your house, savings or other assets then these will be taken into account when making an offer to creditors. agency consolidation debt

Can I stay in business

Yes, you can. Unlike being declared bankrupt, there's no limit on your business activities. consolidation debt solution

How long does an IVA last

They normally last five years. california consolidation debt

Which creditors can be included in an IVA

Creditors you can include are: Banks, Finance Companies, Credit, store and charge card companies, Customs and Excise (VAT), Inland Revenue and even loans from friends and family. You can't include your mortgage, hire purchase, fines, debts incurred through fraud, maintenance/child support arrears or rental property. consolidation debt loan uk

Can I enter into an IVA if I have already received a Statutory Demand

Yes. consolidation debt equity home

Can I obtain an IVA if a Bankruptcy Order has been made against me

Yes. consolidation debt government

What happens if I don't keep up the payments on my IVA

If you default on your payments, the supervisor of an IVA can initiate bankruptcy proceedings against you. consolidation debt firm

What happens once I finish paying my IVA

At the end of the process the Insolvency Practitioner will issue you with a 'Statement of Completion', typically within 3 months of the final payment. The Insolvency Practitioner will also send a copy of this to the Insolvency Service so that they can amend their records. So there is no need for you to attend court or even visit the Insolvency Practitioner's offices. However, the onus is on you to send a copy of the Statement of Completion to all the credit reference agencies which are in operation at the time of their completion. consolidation debt financing

Adverse Credit

Adverse Credit is term referring to your credit rating, if you are described as having adverse credit you are deemed to be a less then ideal candidate to loan money to. consolidation consumer credit

Annual Percentage Rate (APR)

The cost of credit that consumers pay, expressed as a simple annual percentage. These are the most effective way to compare loan offers you may receive. consolidation debt free quote

Arrears

Arrears are payments you have been unable or unwilling to keep up with, arrears are usually referred to in units of months. If you are two months in arrears then you owe two months payments. Arrears are always noted down on your credit record and can affect your future ability to obtain credit such as loans or credit cards. card consolidation counseling

Bad Credit

If you have bad credit you will find it hard to obtain such products as credit cards, loans and mortgages. Similar to adverse credit. consolidation debt lender

Bankruptcy

This is usually a final resort for anyone with dire debt problems, only ever recommended if all other avenues have been exhausted. Recommended beforehand would be debt management or an IVA. calculator consolidation debt

Consumer Credit Act

A consumer credit act is a requirement for all financial businesses, it outlines a course of action from the office of fair trading, save under certain conditions. best consolidation debt loan

County Court Judgment (CCJ)

If you have a CCJ it means a judge has ruled against you in court, this incurs a fine of the amount you owed plus any costs fine which must be paid off legally. consolidation counseling

Credit Card

A card indicating the holder has been granted a credit limit. The holder can then purchase goods up to the limit agreed to with the creditor. best consolidation debt

Credit Rating

our credit rating indicates how credit worthy you are, it can have a major bearing on whether you can obtain a loan, mortgage or credit cards. It lists all your credit activity, as in which loans you taken out, if they were paid on time, if you have any CCJs against your name or if you have gone through bankruptcy. best company consolidation

Creditor

A creditor is a lender of finance such as a loan, credit card or mortgage. consolidation debt lending

Credit Search

A credit reference agency will search your credit record on behalf of a lender to see if you have any CCJs or defaults. This will give the lender an accurate description of how credit worthy an applicant is which in turn will inform there decision on weather you can have a loan and if so what APR to charge. business consolidation debt

Data Protection Act (DPA)

The Data Protection Act was brought in to protect consumers' personal information from being made available anybody wishing to buy it. advice consolidation debt

Debt consolidation

When you consolidate loans you replace a multiple of loans with a single loan, often with a lower monthly payment and a longer repayment period. It's also called a consolidation loan. consolidation debt interest

Debt Management

Debt management is a financial agreement a company organises for you with your creditors, it allows you to lower your monthly payments in accordance to government legislation. consolidation debt refinance

Default

If you miss a payment to one of your creditors then you are in default. If you have a default on your credit rating it can damage your chances of getting a loan, credit card or mortgage. consolidation debt finance

Direct Debit

A direct debit is an arrangement made with your creditors and bank. It is a promise to pay a certain amount of money on a certain day or days of the month. They are an excellent way to stay on top of your finances and can help you save money through no late payments and often companies discount customers who use DD. consolidation debt plan

Equity

The equity you have in your home is the market value of set with the amount secured against it. consolidation debt personal

Fixed Rate Loan

A fixed rate loan is a loan that has its interest rate and APR fixed at the start and through the duration regardless of changes in market indexes or other interest rate fluctuations. consolidation debt management

Flexible Rate Loan

A flexible rate loan is often easier to get as its interest can vary according to market index or other fluctuations in rates. consolidation debt secured

Guarantor

A guarantor will 'guarantee' any debt will be paid back for the primary lender, this may be because the primary lender cannot achieve the loan therefore the lender needs a guarantor for the loan. consolidation debt florida

Independent Financial Advisor (IFA)

A person qualified to give financial advice to clients on life insurance, pensions, funds, and other financial products, who is not tied to any one financial institution. They may charge their clients a fee for their advice or may receive a commission on the products which the client buys. canada consolidation debt loan

Interest Rates

The interest rate on a loan is the yearly price charged by a lender to a borrower in order for the borrower to obtain a loan. This is usually expressed as a percentage of the total amount loaned. consolidation debt nonprofit

Legal Charge

The legal document held by Land Registry that records who has a claim on your property e.g. your lender. consolidation debt reduction

Loan Application

A loan application is a form filled in when credit is required, it outlines the details of a borrower so the lender can judge the credit worthiness of the applicant. calculator card consolidation

Loan Consolidation

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The bringing together of all loan debt into one payment, can save you time and money if done correctly. consolidation debt unsecured