EuroDebt is a specialist and independent fee charging Debt Management Company that has offered Debt Adjustment and Full & Final negotiation services since 1996 and has been operating Debt Management Plans (DMPs) since 2000. We are a member of the Debt Managers Standards Association (DEMSA), whose code of practice is approved by the Trading Standards Institute (TSI). We also trade as MoneySave Solutions.
We offer a full range of Debt Solutions, including Debt Management Plans (DMPs), Individual Voluntary Arrangements (IVAs), Scottish Trust Deeds and Bankruptcy Assistance. All our clients have a face to face meeting which we believe is the most effective and timely method of collating and witnessing critical income & expenditure information to prepare independent proposals to our client's creditors.
A wealth of Debt Management experience
We are currently helping over 23,500* individuals with serious debt problems relating to over 140,000 active credit agreements with all the major lenders and credit card issuers. We have negotiated with over 3,700 lenders and are currently managing over 525 million pounds of personal debt. Since 2000 we have negotiated with lenders on over 370,000 individual credit agreements to establish reduced payment arrangements.
On average a EuroDebt client stays on their Debt Management Plan for 57 months*. This demonstrates that we have an excellent record of our clients maintaining their plans and consistently making creditor payments. This is important for most creditors because it means they are likely to continue to freeze interest & charges and agree to full & final settlements if your circumstances materially change. For many clients a Debt Management Plan is appropriate as a transitional programme where adverse personal or household circumstances create major reductions in household income or increases in expenditure. Entering a EuroDebt plan demonstrates to your creditors that you are taking a responsible attitude to your financial affairs until you can resume paying contractual commitments or settle your debts.
Your personal preferences are very important and our regional advisors will discuss all the debt solutions available, which may include an Individual Voluntary Arrangement (IVA - England & Wales), Scottish Trust Deed (Scotland) or Bankruptcy. We are able to offer you an integrated debt solution for all these options.
Our senior management team has held executive roles in a number of leading credit granting and credit services organisations including leading banks, mortgage providers, credit reference agencies, debt collection agencies and with industry bodies. Understanding how the credit industry operates is very important in representing our clients. In 2008 fee charging Debt Management Companies were allowed to apply to be licensed to use the Common Financial Statement (CFS), an industry recognised method of assessing and presenting you income & expenditure. EuroDebt is licensed to use the CFS (licence no. CFS04062126) and this now forms a core part of our Client Financial Planner.
EuroDebt has over 60 trained and experienced Advisors who visit prospective clients in the privacy of the client's own home. The Advisors are supported by over 160* office based client support staff, whose primary focus is to ensure our debt solutions are professional and personally delivered to our clients. In 2007 we invested in state-of-the-art new offices in Bedford with additional capacity for growth and we have continued to expand our team of Regional Managers and Debt Advisors.
Value Added Services
EuroDebt has taken a leading role in identifying value added services that may be beneficial to UK households in financial difficulty. In February 2009, we launched a free Energy Switching comparison site with the ability to switch provider free of charge to obtain the best tariff and payment method for you. Average savings for those that haven't previously switched can be over £30 per month.
In July 2009, we launched our Prepaid Current Account in association with Secure Trust Bank. This is available to all UK residents with no credit checks, irrespective of whether you are on a Debt Management Plan, an IVA or subject to Bankruptcy. There are no hidden fees and there are no charges if a direct debit or standing order fails. We feel that this service can save an average of £25 per month in bank charges compared to a normal high street bank account. We offer the facility for you to obtain your Credit Report free of charge from Experian the leading credit reference agency. EuroDebt has also launched an innovative Debt Calculator to enable you to assess your level of indebtedness and concern with regard to your personal finances.
We do not introduce or broker any re-financing services and our policy is not to encourage people in unmanageable debt situations to borrow more money. We will, however, discuss the advantages and disadvantages of re-financing if this remains a viable option, based upon a client's individual or household circumstances.
High quality standards
All new clients are surveyed six months after they start their Single Payment Plan. Additionally, every year since September 2006, we survey over 2,000 of our existing clients. We receive an average response rate of over 20% and the average score for our overall service performance is "Very Satisfied". 78% of those who responded would recommend EuroDebt's services to someone in similar financial difficulties.
* Accurate at April 2013