Debt management

Debt is a cycle, once we initially have money issues we look for other ways to deal with this and it usually results in us borrowing more and before we know it our debt has spiralled out of control. It can be a scary process to face debt and becomes very easy to delay sorting out the inevitable problems that will incur. We are here to help and support you to make the right choices to organise and deal with your difficulties. 

We will provide you with a friendly, clear and confidential service. There are a range of options to help you tackle the financial problems and the sooner you act, the sooner we can help put you and if appropriate your company on the right path. 

It is vital that business owners understand the importance of seeking help as early as possible to minimise risk.

We provide a number of options to help you gain control of your debts. These will be carefully chosen and presented to you based on the needs of you and your company. We will work together to put these strategies in place to ensure your debt continues to reduce. 

A Debt Management plan allows you to pay off your debts at a rate you can afford. It's suitable by identifying your non-priority debts which will include; store card credit, overdrafts and personal loans. Here we can assist you to consolidate those liabilities into one monthly manageable payment.

When we discuss your financial difficulties, it has to be stressed, that it's completely confidential and all information you provide must be true and transparent. Once that is understood, we attempt to find practical solutions and provide the options open to you. This applies whether you are self employed or a director of a limited company.

We will always indever to turn short term debt into long term debt where possible depending on circumstances. 

 

This can include: 

  • Extending or remortgaging.

  • Negotiating settlements with credit card providers and getting them to freeze interest.

  • Obtaining a 0% credit card offer and making balance transfers to save monthly outgoings.

  • Potential bank loans, and overdraft opportunities and examining other monthly outgoings that can be reduced.

 

Alternatively looking at ways of increasing income. 

 

The first thing everybody with debt problems has to do is prepare a cash flow forecast (monthly income and expenditure account) and this is where I can assist, together with an accurate asset and liability statement.