Multiple Creditors looking for settlement, or struggling to continue with unaffordable repayments?
There are options for an agreement with your creditors so your debts continue to be paid over a set period of time.
This results in a reduced single monthly payment when compared to the current unaffordable monthly payments being made.
Even write off part of the debt.
Below is exactly what our experts want you to know;
Negotiated Agreement with Creditors
Am I Eligible?
No debt limit with something to offer by way of monthly repayment or lump sum
Do I have Creditor Protection?
No, creditors could still take action against you
Will I be offered Debt Forgiveness?
No debt forgiveness, it will be at your creditors discretion to agree to write off any part of the debt but it is not guaranteed
What about any Interest & Charges?
Creditors may freeze at their own discretion but this is not guaranteed
Will the Creditor still contact me?
Are there any Costs involved?
Possibly, but has the advantage of minimising costs, as there is usually no court involvement
What is the repayment Duration?
No fixed term
What Payments must I make to the Creditor?
As per the agreement with creditors
Are my Assets at risk?
Yes, as this is an informal arrangement with your creditors, asset protection is not guaranteed and your home may be at risk
Will my Employment be effected?
No, it will remain unaffected
Will it be recorded on a Public Register?
Will my Credit Rating be affected?