What debt situation can be helped?

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How we can poeple be helped

You can helped you in 2 ways; our Debt Management Plan (DMP) is for people with debt totalling approximately £20,000 and at least 3 creditors or whose circumstances do not allow them to qualify for a Individual Voluntary Arrangement (IVA).

DMP
Debt Terminator will put together a personal financial plan, with the information you supply, enabling you to pay your essential bills and calculating how much money is available to meet your monthly credit commitments.

Agree an affordable monthly repayment with you.

We work for you, negotiating with your creditors on your behalf. This means the only action you will have to take is referring any telephone calls, letters, etc. from your creditors to Debt Terminator.

Distribute your monthly payment to your creditors for you.

IVA
An IVA is an offer by an individual to their unsecured creditors in order to settle all of the debts owed.

Typically it involves a monthly payment from the individual’s surplus income for a 5-year period. At the end of which any unpaid balances are written off, giving you ‘Light at the End of the Tunnel’.

Interest and charges are stopped, so the spiral of debt is halted.

All unsecured creditors to whom the IVA Proposal is sent are bound by the Arrangement, even if they do not agree to the Proposal, providing that 75% of your remaining unsecured creditors agree to the Proposal.

Due to the highly specialised and legal nature of our IVA we are pleased to be associated with Wilson Phillips, one of the UK’s leading Licensed Insolvency Practitioners.

• What type of people can be helped
• In what way can there debt situation be helped?
• Also see debt  consolidation