Debt Problems / Debt Management | Equity Finance

Are you...

• Struggling to meet your monthly payments?
• Constantly under pressure from loan and credit card companies?
• Need help and advice with debt problems?

How can Equity Finance help?

The first step to getting out of debt is accepting that you need help – before it’s too late.

At Equity Finance we treat you as an individual – not a number. We provide confidential help to help you find the best solution to your debt problems.

There are several solutions we can offer to help manage your debt problems and help you to regain control of your finances. We can turn your debts into one single monthly repayment or reduce the overall amount of your debt to make it more affordable. If you have equity in your property or can raise a lump-sum we can even negotiate to settle the debts in full for a much lower amount. Either way we will deal with your creditors on your behalf.

What’s the next step?

Firstly, we carry out an assessment of your income and expenditure to establish how much you can reasonably afford. We then produce a report for presentation to your creditors.

When you are happy to proceed we will contact them to negotiate a suitable arrangement. We can often arrange for the interest to be frozen in order to stop the debt building up and generally we can agree monthly repayments in the region of 1% of the outstanding debt. So, for example if your total debts to be taken into the arrangement are £10,000 then your monthly payment would be around £100, £40,000 would be around £400 etc.

All you need to do is make one single monthly payment to us and we arrange the individual payments to your creditors in accordance with the plan – leaving you free to enjoy life and free from the worry of debt problems.

Everything is dealt with by telephone so don’t worry - there is no need for any embarrassment or for anyone to visit you.

We review the programme regularly so if your circumstances change significantly we can make any necessary changes to ensure that you only pay what you can afford.

Frequently Asked Questions

Q. What is a creditor?

A. Quite simply, anyone you owe money to.

Q. Does the debt management program include all my debts?

A. A debt management program will cover your unsecured debts and also any arrears.

Q. What is the difference between secured and unsecured debt?

A. A secured debt is a debt secured against an asset that you own. Typical secured debts will be a mortgage, a secured loan or hire purchase (HP). An unsecured loan is one which is not tied to an asset you own such as a bank overdraft, personal loan, credit card or store card.

Q. Do creditors always agree to reduced payment offers?

A. Creditors do not have to accept any offer of repayment below the minimum amount. However, we are often able to reach an agreement on your behalf if we can demonstrate that the offer we have made is reasonable and that you are committed to repay your debts.

Q. Can you help me if I already have County Court Judgements (CCJ’s) registered against me?

A. Yes. You can also use the debt management programme to make payments against any existing CCJ’s that you have but you must be sure to tell us about all your debt in order for us to achieve a solution.

Q. How do I know that my money is safe with you?

A. We are authorised by the Office of Fair Trading to carry out work of this nature. We are also separately authorised and regulated by the Financial Services Authority and Finance Industry Standard Association. Any client money is held in a separate account and is paid to creditors as soon as the payment is cleared.

Call FREE on 0800 594 5904 to speak to one of our debt management specialist advisers for debt help, advice and solutions. Alternatively you can complete our online enquiry form.