DMP Gives You Time to Think A debt management plan (DMP) can be a short-term solution for those struggling with debt. It allows you to make one reduced payment to a debt management company, who will then distribute the money … Continue reading →
Companies Claiming to Get Your Debts Written Off Every so often, there are companies that will claim that they can get your debt written off. The reality though is, debts just can’t be written off, unfortunately there is no magic … Continue reading →
A charging order is a legal process used to secure a debt owed to a creditor. It is a way for a creditor to secure a debt against an asset. The charging order essentially puts a lien on the asset … Continue reading →
All credit applications (e.g. personal loans, credit cards or store cards) taken out in the UK are regulated by the Consumer Credit Act 2006. This legislation requires that creditors must send a Default Notice to any customer who has fallen … Continue reading →
A full and final settlement for debt is an arrangement between a debtor and creditor where the debtor pays a lump sum that is less than the total amount owed in order to settle the debt. The creditor must agree … Continue reading →
A Debt Management Plan (DMP) allows the client to repay what they can afford to their creditors on a monthly basis. This is a repayment plan that allows the client to repay their debts on a pro-rata split, according to … Continue reading →
Debt Settled Full and Final Settlement Equidebt Below you will see a full and final settlement was achieved with Equidebt. A full and final settlement on a debt of £7770 for £2625 was achieved by negotiating with the creditor. The … Continue reading →
This is American, but explains in simple terms what happens if you just pay the minimum payments each month! How Minimum Payments Won’t Get You Out of Debt If you happen to have a fairly large amount of credit card … Continue reading →
In the UK, the statute of limitations is a legal term that refers to the time period within which a creditor must take legal action to recover a debt. Once the statute of limitations has expired, the creditor can no … Continue reading →
What are Priority Debts Priority debts are those debts that take precedence over other debts. These debts typically include rent, mortgage payments, utilities, taxes, and court-ordered payments, like child support. It’s important to pay these debts first as they often … Continue reading →
Confirmed Resident Letter Received from a Creditor You have received a confirmed resident letter from a creditor, what does is actually mean? It could be that the creditor has done a bit of detective work and actually found the address … Continue reading →
Pre-Bailiff Visit Letter On occasion, creditors have been known to send our pre-bailiff letters, in this case; “I have called on a Pre-Bailiff visit on behalf of CL Finance, but was unable to make contact with you. Please telephone me … Continue reading →
