Is a EuroDebt Debt Management Plan right for you?
A Debt Management Plan (DMP) might be just what you need to get your finances back on track. But it isn't suitable for everyone, so it is really important that we spend the time with you to make sure a EuroDebt Debt Management Plan is right for you.
We spend on average 1½ to 2 hours with you in the privacy of your home, arranged at a time to suit you. The aim is to be able to properly establish the true extent of your personal or household debts and to discuss with you whether a DMP is the best option for you or whether other options such as bankruptcy or an Individual Voluntary Arrangement (IVA or Trust Deed in Scotland) might be a better option.
Always remember that we are here to help you. This means that we will only offer a debt solution if we think it is in your best interests and that it is what you want to do.
We can assist anyone with more than £3,000 of debt with 2 or more creditors. On average, our clients have 7 creditors and around £22,231 of unsecured debt. For home owners the figure is over £35,000 with nearly 9 creditors. However it is not uncommon to see clients with over 20 creditors and £100,000 of debt.
EuroDebt is licensed to use the Common Financial Statement, an accepted method of assessing your income and expenditure allowances, and your Debt Advisor will determine the amount of disposable income you have to make proposals to your unsecured creditors that you have requested we act upon. We will need to determine that you have regular income and that your regular monthly payment is affordable and sustainable. We will take account of special circumstances and situations where we need to allow for repayment of arrears to priority creditors, such as your mortgage lender, landlord or local authority (e.g. Council Tax).
We routinely deal with clients who are self-employed, retired or on benefits.
If, at the end of the home visit, we identify that EuroDebt is not able to directly assist you, we will either request your authority to pass your Client Financial Planner to another debt solution provider or recommend a charitable organisation like your local Citizens Advice Bureau (CAB), if you haven't already contacted them.
If this sounds relevant to your circumstances then contact EuroDebt today by freephone 0800 2 98 97 98 or APPLY NOW. There is no obligation on your part.
Important points to remember:
- Whilst lenders are not obliged to freeze interest and charges, in 92.9% of the current cases we have referred to them they have done so*. Where a lender does not freeze interest and charges the amount you owe and the period over which you repay that credit account may increase, though we will continue to request interest and charges be frozen once several payments have been made to your DMP.
- Whilst entering into a DMP can adversely affect your credit rating it is our experience that those who approach us already have an impaired credit record. By entering into a DMP you will be showing your creditors that you are taking a responsible attitude to resolving your financial problems and this could help you in the future.
* Figure accurate at the start of October 2012.