Debt Management Plan
A PLAN TO SUIT YOU
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UK Money Solutions are rapidly gaining a reputation as ‘the company that does more’ when it comes to helping clients get out of debt. We will look at all options to help you clear debts, and if debt management seems the best way forward then you can rely on the experts at UKMS.
Our unique debt management plans consist of all the good parts that other debt management companies offer - plus a little bit extra. This is how it works:
DEBT MANAGEMENT PROCESS
- We will assess your income and expenditure and look at areas where you could increase or maximise your income and reduce or minimise your expenditure.
- We will advise you to ensure your priority debt commitments are met before any non-priority debt commitments.
- We will agree with you a monthly payment that you are comfortable with and that will be your affordable payment to us for which will take care of all your unsecured debts. This will usually be a significantly lower payment than your current debt repayments.
- Your creditors will receive token amounts from your 2nd and 3rd payments. Paying creditors from the end of your 1st month will ensure minimal disruption.
- Full pro-rata distribution of your monthly payment will be dispersed to your creditors (minus our low 14.9% admin fee) from your 4th installment.
- Your debt management plan is now fully set up and will continue to run through to completion unless you notify us otherwise (such as of a change in circumstance) or you miss payments.
GET OUT OF DEBT - QUICKER
As part of our commitment to help you to be debt-free in the quickest time possible, you will be offered the chance to claim back mis-sold financial products and unfair charges.
For example, if you have been mis-sold Payment Protection Insurance and you instruct us to claim this back, the refund (if successful) could significantly reduce your outstanding debt and bring your debt-free date forward. We can also claim back unfair bank charges which will reduce any overdraft balances included on your plan, and we can recover unfair credit card charges to reduce these debts too.
For example, if you have been mis-sold Payment Protection Insurance and you instruct us to claim this back, the refund (if successful) could significantly reduce your outstanding debt and bring your debt-free date forward. We can also claim back unfair bank charges which will reduce any overdraft balances included on your plan, and we can recover unfair credit card charges to reduce these debts too.
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Please note a debt management plan should be considered a short to medium term debt solution, and we will monitor your situation to try to source a long term solution as time goes on. Rescheduling debt may affect your credit rating and also could increase the term of repayment.
LOOKING AFTER CLIENTSWe are here to assist you to get out of debt from day 1 to the day when every single debt you have is paid off, without exception. All of our clients are allocated their own personal case manager who will take care of your needs at all times. Our case managers are contactable by phone (9am-5pm), by email or by post.
They will always answer your questions or worries to the best of their abilities. Our customer service department aims to answer your call within 10 seconds and we never leave you on hold unless this is absolutely unavoidable. We do not use offshore call centers, we don’t have an automated phone system and as long as you call within office hours you will always get through to speak to someone that can help you, guaranteed. .
VULNERABLE CLIENTSUK Money Solutions operates a vulnerable client policy and has the discretion to waive the First Month Payment based upon personal or household circumstances.
DMP SWITCHING POLICYWe endeavour to reduce your Monthly Management Fees for the ENTIRE DURATION of your Debt Management Agreement if you switch your debt management plan from another provider to UK Money Solutions.
We operate a ‘switcher’ contract which ensures NO* breaks of payments to creditors and therefore you will endure only minimal disruption to your plan. .CHARITY DEBT MANAGEMENTIn cases whereby we decide it would be ‘best advice’ you may be referred to an alternative service provider, for example, a local competent authority if a Debt Relief Order (DRO) is regarded as the best solution for your circumstances.
In some circumstances you may be referred to your local Citizens Advice Bureau (CAB) as part of our commitment to assist clients who are vulnerable or experiencing severe hardship. . CALL UK MONEY SOLUTIONS FOR EXPERT DEBT HELP 08000 748 059 (24Hrs)*Creditors will receive token payments immediately from your first and second payment. |
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Contact Us
UK Money Solutions
203 Murdoch Chambers
2nd Floor
153A Corporation Street
Birmingham. B4 6PH
E-mail: enquiries@ukmoney-solutions.com
Call FREE 08000 748 059