'The New Way'

Unfortunately the country is literally 'swimming in debt'. The slowdown in the housing market has brought matters to a head in that people realise the increase in their perceived wealth has stopped and is possibly in decline.

At this stage many people are facing the bleak prospect of recognising that they are in the 'debt spiral'. Offers of huge amounts of extended credit will have reached levels whereby the individuals cannot even service the minimum payments on debts.

As explained previously there are Statutory options in the forms of Bankruptcy, IVA's and Debt Management Arrangements, however they do suit the needs of today's modern consumer. Both Bankruptcy and IVA's are poor options for individuals because they:

• Tie the individuals into formal arrangements that may at first seem the right way to proceed but later on prove not to be the case.
• They effectively take the loans from unsecured to secured status.
• The individual will then have their home at risk.
• The Official Receiver or the Supervisor has strict rules to adhere to and acts in favour of the creditors.

The three instances above also have a catastrophic effect on the person's credit rating making future borrowing very difficult and/or expensive.

We refer to our approach as the NEW WAY and this is solely based on affordability. The scheme requires the individual to raise as much as they can afford to offer to their creditors. If there is a shortfall, as is usually the case, then we negotiate settlements in line with this affordability over usually up to a two-year period.

Affordability is measured on two fronts:

• The amount that can be raised, which in turn,
• Is the amount the client can actually comfortably service on a monthly basis.

We have many proven case studies for you to consider and we achieve these savings for our clients because:

• We know how finance companies operate and their various agents.
• Generally they are poor at recovering moneys.
• We know in detail the Legal system involving debt recovery.
• We are persistent and imaginative in our approach.

The client has to generate a 'pot' of funds, usually by way of re-mortgage, to offer their creditors on a full and final settlement. This fund is lodged in a client account for us to manage. Over time we make the offers to the creditors and achieve remarkable savings.

Each and every case is different but typical fees we charge, which are paid from the fund, are:

• A retainer which covers all the work involved in establishing a case, dealing with all calls and enquiries which must only go through this office and controlling the client's usually precarious position.
• 1 to 2% arrangement fee on funds raised to put into the fund.
• 20% of debt savings achieved. These usually take 18 -24 months to achieve.

If you are experiencing the pressures of debt and are struggling or if you know somebody in this position call 01756 751973 now. THE NEW WAY.