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DEBT ADVICE

Many people find themselves being unable to afford the monthly repayments on their current credit commitments.  This can be for a number of reasons – separation, redundancy or reduced working hours, escalating interest rates, ill health etc. 

It is important to face up to the reality of your situation and seek professional help at the earliest opportunity.  In our experience the sooner a problem is identified the easier it is to find a solution.  But don’t despair!  If you are currently facing court action and default notices we can still help.

Debt can be handled in a number of ways.  In certain circumstances a debt consolidation exercise may be most appropriate.  In others a debt management programme may be the answer.  For debts in excess of £15000 an IVA may be considered, and in extreme cases bankruptcy can sometimes be the best solution.

The important thing to remember is to make sure that you pay your mortgage and any other secured creditors as your first priority and your council tax and utility bills as the second priority.  However, this does not mean you should ignore your unsecured creditors.  Most lenders are more sympathetic if you tell them your problems as soon as you start to experience difficulties rather than after you have missed two or three payments.  By writing to them at the outset you should be able to agree an affordable reduced payment for a short period or renegotiate the debt in its entirety if this is more appropriate.  If a short term reduction in payments is not going to provide the solution then you need to talk to us.

 Please phone us on 0800 542 7720 or complete the enquiry form.

There will be a fee for mortgage advice of £150 plus an additional fee of £1495 for non conforming mortgages or £395 for conforming mortgages payable on completion.

THINK CAREFULLY BEFORE SECURING OTHER DEBTS AGAINST YOUR HOME.
YOUR HOME MAYBE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE.