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- Did you see the Tonight programme by ITV about reducing monthly outgoings and repayments?
- Martin was explaining how to save money by cutting back on items in your household expenditure!
Due to rises in fuel prices and the general cost of living, most people are finding it difficult to manage or reduce monthly payments that they have.
There is a point where some people find they cannot cut back any further.
Without the programmes enthusiasm in your front room, how can you implement the same money saving ideas and stick to them. One thing that was mentioned was the “impulse buy”, items bought out of a want, not a need!
- Fed up of having no money left at the end of the month after paying all the bills?
There are a great number of ways to save money each month and the following are just a few;
- Change Electricity or Gas supplier
- Change Internet provider
- Change Telephone provider
- Change or reduce TV subscriptions
- Change Supermarkets
- Do not make impulse purchases only buy when you need to!
- Change Clothes Shops
- Change Petrol Station
- Change your car
- Change your Ways!!!
It is okay having this information but acting on it is very hard, sometimes it can take a massive effort as all the changes are a shock to the system.
We say this because when you have to cut back it can seem like a drastic change in lifestyle as you are used to buying luxury items that are not needed, this comes from emotional or impulse purchases, the money you used could have been used to clear other bills but the control is what was lacking.
Once you have impulse purchases under control, changes to your living expenses as mentioned above should start to have a positive impact on your weekly or monthly budget and ongoing expenditure. You should find you are reducing payments and other costs leaving you with more of a disposable income, the money you have left over each month after paying bills and all living costs.
Saving money can start with little things like where you buy your lunch each day or how you make it. Save on holidays, cars, nights out, clothes etc..
Life will seem strange but you will get used to it and then you can start a fresh!
If you have personal debt problems and are struggling to find a way to reduce repayments to credit card and loan companies, you can call our free debt helpline 24 hours a day, 7 days a week. Call 0800 018 6868 free.
If you find yourself with a financial problem and have bad credit or are unable to cope with mounting debt problems, then you may want to search the marketplace for information that can help you discover the best solution for reducing or eliminating personal debt.
There are a number of very authoritative internet debt consultants and resources online that offer information for getting out of debt and they could help you with your personal situation.
Be very careful that you do not jump in with the first company that comes along without doing some research about the company, how long has the debt company been in business? Make sure you ring them to see how professional their approach is. After all you want your affairs to be handled on an individual basis and your interests should be of the utmost importance.
Finding the best and highest quality of companies within the Debt Consolidation field will help and ensure your overall plan to reduce your indebtedness over the longterm is fruitful.
Unfortunately, there are a number of debt consolidation agencies, debt negotiators, and debt settlement consultants who will take you for a ride. If you find they are advertising their services saying that they can get your debts eliminated in 10 minutes or less, they are the kind of companies that you want avoid at all costs.
These claims are not justifiable and simply not possible. You need to work with a debt consolidation company that offers you viable and workable individual solutions to eliminate your debt in the medium to long term.
You must realise the real facts that no one can eliminate your debts without a personal Bankruptcy petition. Most debt management resources reduce debts through renegotiations with your creditors.
You will find that some personal debt consultants even claim to be able to “eliminate your interest rates” completely, this is not entirely truthful.
When a debt management company consolidates all of your unsecured debts, they will gather all of your unsecured debt repayments and roll them into one new single repayment, which then reduces your monthly outgoings.
If you aren’t dealing with an honest debt consolidation company or one that has a high reputation in the industry who can negotiate the best solution, there’s a very good possibility that they will also roll those high interest rates into your total debt, which may still reduce your monthly outgoing but unbeknown to you, will cause you to have a larger overall debt level. Be very careful with this type of tactic.
Therefore, it is important that you ask the company or debt consultant about what it is they can do for you, after you have provided them with sufficient information for them to work out an overall plan.
Educate yourself a little with regard to what interest rates you have been paying on your current debts, so that you are empowered to have the knowledge to make an informed decision.
Above all, be prepared to pay a reasonable fee for the services of a reputable company. There is no such thing as a “free lunch”. Someone has to pay the people who organise and negotiate on your behalf. Companies that claim that you don’t need to pay them anything are in fact being paid by the creditors and getting fees somewhere in the process. We find that many people would rather agree to pay a set fee and get on with the task of getting back on the right path.
You are advised to have all the proper paperwork regarding your debts organised and if possible obtain a copy of your credit report.
If you are in doubt, do some research of your own, telephone the companies that you have listed and contact them by phone.
Lewis Alexander Financial Management offer a first class personal Debt Management Service, nationwide throughout the UK. We have in house specialists who concentrate on debt management and loan consolidation and we have been looking after a great number of our clients for many years now.
Call the Lewis Alexander free debt helpline using 0800 018 6868, our lines are open 24 hours a day, 7 days a week and your call is free.
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Lewis Alexander is registered in the UK to help and assist consumers with personal debt and other financial problems.
We are specialists in personal debt management consultancy and help many people every day to clear and consolidate personal debt problems.
If you are suffering from excessive charges and interest rates that are being applied to your credit agreements then you should take advice from a personal debt consultant sooner rather than later.
- Do not stick your head in the sand like an Ostrich, get professional advice from trained personal debt consultants.
Your creditors will be sympathetic to the problem you find yourself with and you should approach them with details of changes in your circumstances or with reason for the lack of your ability to repay.
When credit and debt becomes a problem, it can seem as though you are the only one suffering, this is not the case, if we all could see inside other peoples wallets, we may find a lot of other people in the UK are currently suffering from the same financial problems.
Personal debt consultants can help by advising the best solution to take with advice tailored to your personal situation.
Some people just carry on day after day hoping that the problem will go away, unfortunately it does not and often it will get larger over time if not dealt with.
You must accept that you are not alone and personal debt consultants can help you, they are specialists in what they do and even though all of us are different, the problems we face financially tend to be the same.
If you would like to speak with a trained personal debt consultant in total confidence today, then please call our free debt helpline using 0800 018 6868, lines are open 24 hours, 7 days.
If you are trying to find a loan company that will lend you money without you being in full time employment, you must remember that the companies you approach are not duty bound to lend you money.
A lender or loan company makes a decision to lend based on the risk that you personally present to them regarding your ability to repay the credit you are applying for.
Examples of factors that lenders take into account when scoring your application for credit could be some of these that follow;
- Are you working or not?
- If employed is this full time or part time?
- Do state benefits make up 100% of your income?
- Do you have a UK bank account?
- Does your employer pay you in cash?
- Has a bad credit rating affected you from obtaining credit or loans recently from other lenders?
- Will you be able to repay the loan if you suffer a change in circumstance, such as loss of job, split from partner or less hours at work?
- Have you ever been declared Bankrupt, subject to an IVA or Debt Relief Order?
There are many factors that lenders will take into account when deciding to lend money to an individual and you should accept that each lender has different requirements that the proposed customer or client should be able to meet.
- A lender does not have to inform you of how they decide on approving or declining your loan or credit application.
Different loans require people to qualify in differing ways.
For example, a debt consolidation loan could be secured against a home, this would require the individual to usually be a home owner because if they were not, there would be no property for the lender to secure the new loan against should the person fail to repay.
An unsecured loan requires no security but rates of interest are usually higher to balance a lenders risk of loss due to none repayment or an unexpected time delay to recover the money leant.
If you have been refused a loan and then made further applications for credit within a short space of time, you may be surprised to learn that multiple declines for credit within a short period can mark your credit score down further. This is then an alarm bell to other lenders when they search your credit file to see if they are happy to lend to you because they see all the other lenders declines.
You need to realise that more credit is not usually the best route and by obtaining free financial advice from a trained debt advisor, you will be able to clear your personal debts without another loan!
Debt solutions such as an IVA or Debt Management Plan could assist you.
- Some loan companies will charge you fees for an online loan search – be careful!
Can you really afford to part with another £50 or £60 without a guarantee of a loan? Some companies are making large gains from taking advantage of consumers in a vulnerable financial position.
When you have no other income apart from state benefits, it is hard to get a loan. People on maternity leave can find it particularly difficult as they have a job but the income is reduced, creating extra risk to the lender.
If you think would benefit from a free telephone consultation with a trained loan advisor who can help you identify your best solution, call Lewis Alexander free using 0800 018 6868, our free debt helpline is open 24 hours a day 7 days a week and all calls are confidential.
Many people who are in debt will automatically try to use their existing credit cards to consolidate their personal debts.
- This is a mistake that can cost you dearly.
In the long term it can cause a greater indebtedness. Usually, credit card companies will charge considerably more for the combined credit, applying interest rates that will be far greater than the current average of all your interest being applied to all your individual accounts. The last thing you would want is a higher interest rate leading yourself deeper into the cycle of debt.
The problem of getting into debt may have been primarily caused by the credit cards in the first place. It is already a well known fact that many debtors wanting to consolidate their loans are doing so because of unmanageable credit cards and therefore it makes little sense to use credit cards to consolidate personal debt!
- The whole point of trying to reduce debt is that you should be working to decrease your bills and outgoings.
- The common mistake people make is to take the easiest way out to pay off their debt with credit cards as they still have a line of credit available.
- This can cause a problem in the not too distant future if the individual suffers a further change in personal circumstances.
It is so easy to use more credit to pay for existing bills by paying one bill off and adding a new balance to a new or exisiting credit card or loan that will need to be paid off in the future.
The way to reduce your debt would be to get cheaper or less expensive rates of credit and pay off the more expensive credit first, which is usually credit cards.
You will find that credit and loan companies have large resources at their disposal in terms of the best lenders rates available and will have a better negotiating stance than you for the best debt consolidation loan rates. That action would achieve the desired results by reducing the debt in the long and the short term.
- Your only problem could be the fact that your personal credit rating does not allow for your lenders acceptance for providing this new loan.
Let us imagine for a moment that you owe money on your mortgage, car payments, insurance and some household bills such as electricity and gas.
Your first stop should always be to approach your mortgage company to let them know of your situation, they are a priority creditor.
- Burying your head in the sand will not make your debt go away!
It is quite amazing that people would take the easy way out and pay their mortgage using their credit cards instead of approaching the mortgage company and informing them of the personal debt problems. You will find that mortgage lenders are usually understanding of your problem if approached early on.
If the hardship is caused by a temporary situation from being out of work for a short while then this contact between you and your creditors can become a financial lifesaver.
You will still need a professional debt advisor if your situation persists and it is important that you find a way to reduce your outgoings in the long run to ensure you do not get deeper into debt.
There are a number of ways that an amount of personal debt outstanding can be consolidated and rolled into one new monthly repayment. Some of the most chosen options follow;
Each case is different and that is where a debt management company usually excels itself in providing the best advice for your own individual needs.
Lewis Alexander Financial Management offers a first class personal Debt Management Service, nationwide throughout the UK. We are based in Manchester, England and we have helped thousands of consumers suffering with personal debt problems in our history.
We have in house specialists who concentrate on debt management plans and personal debt consolidation and we have been looking after a great number of our clients for many years now.
Call Lewis Alexander on their free debt helpline using 0800 018 6868, our lines are open 24 hours a day, 7 days a week and your call is FREE.
How can a Debt Management Plan help me?
- Need Debt Management Help?
- Find Debt Management Questions and Answers!
During the course of our business day, we receive a lot of questions from prospective clients about debt management, how we can help them, how much it costs and the best debt soltuin for them to follow.
As you can imagine, all situations are slightly different and we specialise in helping people from all walks of life, you could be a single parent with a low paying job or even a footballer. Yes, even they get into these kinds of financial situations and need help with their debt problems. They are fully aware of the quality help a debt management plan can give them should it be needed.
- We have listed a few of the questions below,
One of those often asked questions is – How can a Debt Management Plan help me?
Debt Management Plans can help you if you are struggling and unable to repay consumer debts such as personal loans, credit cards, store cards, bank overdrafts and catalogues etc. If your income is lower than your outgoings, this will cause you to get further into debt each month.
A Debt Management Company will gather all the information from you regarding all your unsecured debts, your income from wages and any other means including state benefits and then decide with you, how much you are able to repay as one monthly sum to start the pathway to reducing the total indebtedness over time. One, new and affordable simple monthly payment is arrived at with the client to ensure they are comfortable with meeting that payment.
- The Debt Management Company will then negotiate with the various creditors as to the amount they will each receive monthly.
As you can imagine this involves a fair amount of work and negotiation with the various creditors.
One of the most common types of feedback we receive is that clients are so thankful that we make this process as pain free as possible and we manage to arrange a new debt repayment plan without the clients having to even write one letter.
It is possible to arrange all this yourself, but imagine just for a moment how much time energy and cost would be involved in the process if you were trying to deal directly with your creditors.
- A client who is already in financial trouble is less likely to be able to cope with such situations as well as trying to negotiate the best terms possible.
Yes, it’s true that a debt management plan will cost you a small amount each month, payable as part of the payment plan and usually included within your monthly payment but the cost is negligible when you consider the many aspects involved in arranging a structured repayment plan yourself.
- One needs to peek into the management side of a plan to see what is involved and appreciate the complex negotiations a reputable debt management company undertakes on behalf of a client.
Once a sensible monthly payment is agreed, the debt help provider will normally distribute your payments monthly on your behalf to your creditors on a pro-rata basis, minus the costs of the plan.
- A second question we receive is;
Do I need to pay any legal fees and Do I need to put my property up as security?
The answer to that question is NO in both cases!
A Debt Management Plan is not a legally binding agreement and therefore no legal fees are involved. If you have a property, this will not be needed for security when entering into an informal debt management plan.
What you will also find is that once a fair payment plan is arrived at, most creditors are very flexible in their attitude towards a debtor. This is very probably due to the fact that many lenders or loan companies look at it with the attitude that the person involved has taken the positive steps to approach a Debt Management Company and made efforts to re negotiate their debts.
- This is a very positive move!
They can also be very flexible depending on your track record of repayments.
You must bear in mind that under normal circumstances, debt management plans usually do not deal with but do take into account any secured loans such as mortgages or court fines and any tax arrears. These debts are normally budgeted for within your expenditure part of debt management plans financial statement.
For impartial advice on how a Debt Management Plan can help you right now, contact Lewis Alexander and ask to speak to a personal debt counsellor for free advice.
Professional debt companies like Lewis Alexander understand what people are going through and are willing to offer assistance that allows you to cope in these difficult circumstances. We will help you review all your finances in private and make a suggestion for a positive solution.
Lewis Alexander Financial Management, offer a first class personal Debt Management Servicenationwide throughout the UK. We are based in Trafford Park, Manchester and we have helped thousands of people in our history.
We have in house specialists who concentrate on debt management and personal debt and loan consolidation and we have been looking after a great number of our clients for many years now.
Call Lewis Alexander on their free debt helpline using 0800 018 6868, our lines are open 24 hours a day, 7 days a week and your call is free.
- Personal debt causes a lot of pain due to worrying.
- It’s a major cause of tremendous family quarrels and arguments.
- It can cause huge upheavals in family and friendships as well as your place of work.
If you are worried about debt problems it can start to escalate very quickly and it almost feels as if it is out of control before it actually is. The stress of debt can be very upsetting to anyone that is going through times of financial crisis or hardship.
This is not something that is a problem for only adults but it also affects the younger generations. As times have become harder, many people have dipped into past savings to cope with the harsher economic climate and unemployment. Increasing outgoings and money for basics such as rent, rates and heating are becoming hard to meet and find.
- You may already be in a situation that seems to be getting out of control and you think that there is not much you can do to get yourself out of this debt trap.
- You may be already feeling depressed and unable to sleep.
Let me tell you that even if you are in any of the situations above and as Christmas, the festive season is around the corner, you have many solutions that will make a real difference to the way you feel about yourself and your financial situation.
- You can make one simple phone call to a professional who knows how to deal with your situation!
- You may be going through phases of guilt and shame because of your financial status?
- Professional counsellors have been dealing with these kinds of situations for a long time!
Worrying about your debt can take over your whole life and start you on a path of creating negative views and differing judgment on everything around.
- All of a sudden the situation seems bleak, but there is help available!
Approach a reputable debt management company and you will be put at ease immediately. The most difficult situation is to come to terms with the debt itself, ask for help, seek professional advice from people who have your interests at the heart of what they do, talk to them, and discuss your situation today in confidence.
Once you have made that initial contact you will find that things are not too bad. You will certainly feel that you have the courage to deal with the problems and suddenly you can see a glimmer of light at the end of what seemed to be a long bleak tunnel.
- Are you lying awake at night worrying about debt problems with Christmas just around the corner?
- Have you been wondering how you will cope with trying to keep the children happy over the Christmas period?
- Find yourself getting angry with you and the people around you?
- Are you feeling depressed and feeling that you are all alone in debt?
- Stop… Make one free call now!
Take a look around a few of the best debt management companies, spend a few minutes and check out their credentials. Make a simple phone call and the hardest part is finally over. Your advisor will have a confidential chat with you to see where they can help and with what solutions. Always remember that you need to take action to help yourself make the decisions that may seem difficult initially and start making adjustments to your own lifestyle and expenses.
Lewis Alexander Financial Management offer a first class personal Debt Management Service, nationwide throughout the UK. We are based in Manchester and we have helped thousands of client’s in our history. We employ specialists who concentrate on debt management and loan consolidation and we have been looking after a great number of our clients for many years now.
Contact Lewis Alexander online or call them using UK free debt helpline 0800 018 6868, lines are open 24 hours a day, 7 days a week and your call is free.
- “A Debt Management Plan that actually worked, thank you so much”
- “You did what you said you would, I am now debt free”
- “It was a struggle but you gave me the support I needed”
The above are comments from within client testimonial letters, received by Lewis Alexander Financial Management.
We have been reading through some of the many letters and emails we receive from clients that have been using the services of a Lewis Alexander debt management plan. The identity of the person has been changed to maintain their privacy of course and permission has been received from them to list the letter on our blog.
“I just wanted to write and let you know that since contacting your company I have been making progress with my life and my personal debt. Before I contacted your team, I was going through a very difficult time, since I had never before been in any kind of financial arrears or personal debt but I found myself exasperated at circumstances with my work and the debt that I had built up due to compounding problems in my personal life. I had done my research on quite a few companies and your company came up in my online searches, so I took the plunge and gave you a call on your free debt helpline. That was a very difficult decision to make but I had realised that once I accepted my situation and that I had to accept my own part in the process, I had to take action and do something about it. I wanted to let you know that it was probably the best decision I made. You personally answered my call and put me at ease straight away and were very sympathetic to my predicament. The mere fact that you listened to my debt problems and came up with solutions with regard to the debt management plan and the various paths that I could go down lifted a huge burden that I had been carrying around with me. I know that it was affecting me and everyone around me. Once you outlined what I needed to do and the details I needed to send to you so that you could work out what I could reasonably afford to pay and manage my debt, I felt like I could go out and get on with my life again. The fact that you were also able to negotiate with my creditors with the repayment plan we came up with was a leap in helping me along and coping with the mountain of worry I had built up. I had worries of the bailiffs and debt collectors turning up from the credit companies who I had not been able to pay and realised that had I not buried my head in the sand so to speak earlier, I would have been in a much better situation. Once the debt management plan was in place, I was almost a different person. Knowing that I would be sending all the nasty letters received from my creditors directly to you to deal with every week and not worrying about it made a huge difference to my daily life. May I thank you for at first helping me come to terms with my mounting personal debt problem, helping me to deal with the situation by talking to me when I needed someone to talk to about my concerns and finally, negotiating with my creditors for a reduction of interest and charges being applied to my accounts. I would not have been able to do that on my own, regardless of my past business successes and knowledge!”
Allan - (Real Identity hidden due to data protection)
That was an extract of part of a letter we received after we accepted Allan as a client and we were able to help him deal with his debt worries and work out a solution for an affordable debt management plan.
Please be aware that we try to help people in these situations and no two people will have the same circumstances, we will advise the best way forward depending on the individuals current circumstance.
A debt management plan may be one of the options that we suggest for you. You must make the first move and contact our team, so that we can discuss your personal financial problems.
Lewis Alexander offer a first class national debt management service throughout the UK. We are based in Manchester and have helped thousands of people in our history. We have in house specialists who concentrate on debt management plans and personal loan consolidation and we have been looking after a great number of our clients for many years now.
Call Lewis Alexander using their free debt helpline 0800 018 6868, lines are open 24 hours a day, 7 days a week and your call is free.
- Are you in the clutches of doorstep lenders?
- Do you borrow money off companies such as Provident, Greenwoods or Shopacheck?
- Have you been refused credit or loans for Christmas?
The amount of cash loans, doorstep loans and further personal credit taken out over the run up to Christmas is astonishing.
Christmas is most certainly one of, if not the most expensive times of year. We all rush out trying to buy items that we think will please our loved ones when really, the only winners seem to be the retail shops. Most of us save and budget for Christmas when others just spend like next year is not going to arrive!
- This is where a lot of people, mainly people on low incomes or state benefits, get parted with hard earned money.
There are unscrupulous financial companies waiting to charge you very high rates of interest for short term loans that are really not affordable. When we advise people that call us for doorstep loans or cash loans that only millionaires can afford these types of loans, they laugh!
It is not funny when the bills for these, loans arrive and the interest compounds beyond a point of ability to repay that interest and makes it near impossible for the individual to reduce the total debt.
These cash loan companies then have you in their grasp, it is very difficult to break this grasp and it makes the vulnerable consumer an easy target for further credit or final collection procedures to recover money owed.
You must accept that if you are used to borrowing from a door to door lender, you should consider starting a debt management plan that will consolidate your catalogues, book clubs, loans, overdrafts and credit cards or store cards into one, new, lower and affordable monthly repayment.
- This way, by the time next Christmas arrives, you will have enough money set aside to buy gifts without needing to borrow money at very high rates.
It is usually the most desperate of people that get stuck in this cycle of personal debt and because of their desperation, they fail to see the true picture when being offered loan products that only seem to be of benefit to the lender, not the individual borrowing the money.
If you are on DLA or other types of benefits, loans are very difficult to obtain and people often get offended when refused for cash loans or doorstep loans. This refusal is actually the best thing that the individual could hear, it is just the acceptance of the refusal that the individual needs counselling for and this is where a debt management plan could possibly help if circumstances allow.
To start a debt management plan for most is a negative thing to do, if you need one then it is the most positive thing you could do. A structured repayment plan would get your finances in order and make a stable foundation for your financial future. Just because someone is not offering you cash does not mean that you are not being offered help, think and think again!
Think before you borrow!
- Do you live in Scotland?
- Are you in need of Personal Debt Help and Advice?
- Is the difference bewteen debt assistance in Scotland and England confusing you?
For most people that live in Scotland, the differences between debt solutions that are available in England compared to those in Scotland can be some what confusing to say the least. If you have previously taken advice from debt agencies and are still struggling to understand the various options available to clear your debts as a Scottish resident, please read this blog post further as we believe this will help you.
Most people are now familiar with the term IVA (Individual Voluntary Arrangement), for those that are not, it is a legal agreement between you and your creditors in England ONLY, and is a form of Insolvency that allows you to pay back an amount of the money you owe within a set or fixed period of time, usually 60 months or 5 years. The remainder of what you owe that has not been repaid is then written off by your creditors leaving you debt free.
- The Trust Deed, is very simply the Scottish alternative to the IVA in England. The difference is that in Scotland, the Trust Deed lasts for 36 months, not 60 months like an IVA in England.
Creditors are not duty bound to agree to Trust Deeds as they do need to make sure that they are obtaining a satisfactory percentage of the total debt to be repaid. This is not always possible when the clients circumstances are investigated as the client sometimes does not have enough disposable income (the money left over after essential bills and living costs) each month to meet the financial repayments, in this case the client can then consider a debt management plan or Bankruptcy.
- YOU SHOULD NOT APPLY FOR ANY FURTHER CREDIT ONCE ACCEPTED ONTO A TRUST DEED!
A Trustee will manage your Protected Trust Deed for you and Trust Deeds can only become protected if certain requirements are met by the individual, if the Trust Deed becomes protected, your creditors cannot take legal action against you and the interest or charges on your personal debt will become frozen.
You will NOT be charged to enter a Trust Deed arrangement, your creditors are responsible for paying your Trustee out of the contributions you make whilst the agreement is in place.
- Bankruptcy in Scotland is sometimes referred to by some as Sequestration
Sequestration involves removing or seizing a persons belongings or assets, to a value of the debt owed with a view to being of financial benefit to the creditor owed the money or in some cases this can be for monies owed to the Scottish state.
Laws in Scotland that appertain to personal debt and finance agreements can vary based on what type of agreement you have signed and with which company or lender. For an exact definition of different legal agreements, you should without question consider speaking with a Scottish Insolvency Practitioner or solicitor.
The above is a very basic explanation designed to give you a brief outline of the differences between, debt help in Scotland and that to the rest of the UK. For a more detailed explanation you can contact our free debt helpline which is open 24 hours a day.
In our business of managing hundreds of clients finances and helping them with their debt consolidation, we have found that the biggest cause of stress in families is always regarding their personal debt and how best to manage the debt problem that can spiral out of control very easily.
We find that many people are not aware of the debt help that is available for people who genuinely want to reduce their debt and be able to cope with managing their income and expenditure.
There are many financial companies who have an excellent track record in helping people in this situation and these companies are able to ease their clients’ worries very quickly.
Debt consolidation is one method that can be used very effectively to reduce your outgoings and balance it with your in comings, especially with expert help.
Contacting a debt consolidation company will help and educate them as to what decisions need to be made to effectively manage the current situation in the best possible way. This in itself is a way that a client can receive immediate relief from the worries of not being able to cope financially and the ability to sit down or talk to a consultant over the phone will have long term benefits for the individuals financial future.
Over the many years of managing and clearing clients debts, our experience tells us that once a client contacts a debt management or debt consolidation company, they are put at ease, knowing that that they will not have to deal with a bailiff or collection agent knocking on their door demanding monies that they cannot afford. The fact that the debt agency is there to help in this situation makes a huge difference.
In the simplest terms, debt consolidation means that you take all of your individual unsecured or secured repayments such as credit cards, overdrafts, loans and catalogues etc and put them all together as one full amount owed. This full amount is the amount that is then arranged into one consolidated loan, offering the benefit of making one lower, affordable and reduced monthly repayment over a longer period initially, if necessary with the effect of reducing ones monthly outgoings.
1) Reduce the total amount of debt – this can be achieved effectively when you work closely with one lender who will pay off all your outstanding debt and consolidate it into one monthly repayment.
2) Create one new payment to a new lender that is far smaller than all the individual payments to various lenders. Debt consolidation companies have much more experience dealing with lenders in this scenario and can also negotiate a much better rate of interest, effectively reducing your overall personal debt.
3) Allowing you in time to reduce your overall debt if you can make slightly larger payments in due course will have the net effect that you would pay much less in interest over the whole period.
We all find that many bills to pay means you have to be so much better organised and able to meet all the various payments at the due dates or end up paying penalties for late payments, causing you to pay much more in the long run and also affecting your credit rating along the way.
One outgoing for a loan is much easier managed than 10 different payments to various lenders!
1) If you own your own home and have a reasonable amount of equity in your home you may consider the route of refinancing your existing mortgage to pay off other debts which will reduce your overall interest paid.
2) If you have a fairly good credit rating you may be able to obtain a personal loan and many people would favor this as the equity in their homes has been drastically reduced in the last few years. You can find out more information about these specialist loans from good debt consolidation companies or debt counselors.
3) If you have credit cards with large balances then you may opt to transfer all your other debts onto one single card, but you will end up paying higher interest or charges with this method.
4) Many times you may be able to get help or assistance from family and friends, however, when one wants to keep a certain amount of privacy with financial affairs, most people are swayed against this course of action unless they have very good and open relations with family. You are also likely to create tensions in family when the last thing you need is further tension, lack of privacy and stress.
5) Seeking out a professional debt consolidation company – For many people this would be the best option, working closely with a time served and reputable company who have specialists in debt consolidation, debt management and debt reduction will really help you. The advantage is in the fact that they have an in depth knowledge of the areas concerned and also have very good working relationships with banks, credit card companies and general debt collectors and lenders. It is possible in many cases that they are able to negotiate better rates of interest and settlements.
It is important to note here that lately, there has been a surge in new companies operating in this debt arena, many of whom have very little track record and your interests are, shall we say, not their first priority! It is very important that you do your homework and work with only the best companies that are prepared to look after your interests first, not their own.
Lewis Alexander Financial Management offer a first class personal Debt Management Service, nationwide throughout the UK. We are based in Manchester and we have helped thousands of client’s in our history. We have in house specialists who concentrate on debt management and loan consolidation and we have been looking after a great number of our clients for many years now.
Call Lewis Alexander on their free debt helpline using 0800 018 6868, our lines are open 24 hours a day, 7 days a week and your call is free.
If you are struggling with debt in the UK, you must obtain personal debt advice as soon as possible.
- Unable to manage monthly repayments?
- Are you receiving letters and calls from credit card and loan companies?
- Have you missed payments on any of your credit agreements?
If you answered YES to any of the above, you need personal debt information that will assist you in clearing debts without further loans. Struggling with debt in the long term is not the way forward and the sooner you find away to end your debt, the better!
There are many different debt solutions which you can explore to find the one that suits you best, what you do need is the correct advice and this is not always available. The reason for this is due to most debt companies wanting to take you down the route that is most profitable to them, not YOU!
The most usual ways to clear your debt without another loan are listed below;
Debt Management
IVA in England or Trust Deed in Scotland
Going Bankrupt
You may have already considered some of the above if you are struggling with debts and may not have received the correct advice based on your current situation.
At Lewis Alexander, we specialise in helping people every day who are struggling to clear their personal debts, we do this without the individual having to take on further credit or loan agreements.
We will be able to help you! All you need to do is call our free debt helpline in confidence and have a brief confidential chat with one of our experts. This way you are not paying for the advice and you can compare our debt help to other companies you my have spoken with, or are about to speak with.
- Call free today, what have got to lose apart from ten minutes of your time?
- You may even find that after our brief chat, your problem is not as bad as you originally thought, which in itself is a massive relief to most people.
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Free debt management services and information about who really funds these free debt companies or debt charities in the UK.
- Financial charities that offer a free debt management plan can certainly not be expecting all their staff to work for free! So who is funding these free debt services or so called charities.
Your creditors are possibly on the large list of banks and credit companies that contribute funds to free debt management charities, these funds are paid to the charities from the banks and credit companies for the work undertaken on clients files.
- How can a free debt management service be helping you personally when they are being paid by the people you owe the money to!
We are proud at Lewis Alexander that we do charge the client directly and transparently for our debt management service, these charges are all agreed upon with you first and you are not tied into any formal agreement of any type whilst utilising our informal debt service.
- You are free to leave at any time!
- We only ask for your personal commitment to our plan for your financial recovery.
Most people find that when employing the services of a free debt charity they can often become just another number, no real personal service can be offered as the number of enquiries that these services receive is quite amazing, this is basically because they are free.
Not all debt charities are the same, some are totally free services such as the governments CAB or Citizens Advice Bureau.
If you wish to discuss how Lewis Alexander could help you better understand free debt management, please contact our free debt helpline today using 0800 018 6868 our lines are open 24 hours a day / 7 days a week!
 IVA or Debt Management The most difficult decision when trying to clear personal debts can be which debt solution to choose after doing all your homework on the options available.
- Debt Management Plans or
- IVA – Individual Voluntary Arrangements
- are usually the two solutions that people have to decide between. When faced with the two options, there are many factors that influence the choice of informal debt management over an IVA and likewise, an IVA over a debt management plan.
It is very important that you understand the differences between these debt solutions, as if you do not, you could easily have the wool pulled over your eyes by a clever and unscrupulous debt advisor that wants to earn extra commission for placing you onto an IVA as opposed to an informal Debt Management Plan.
A professional debt management company such as Lewis Alexander will offer you advice tailored to your personal situation and if you are better suited to a debt management plan rather than personal Insolvency or an IVA, we will tell you, however, you make the final decision based on the debt advice given to you.
It is your choice no one Else’s!
When you are in debt it can feel like everyone else does not understand your particular situation and that you feel that your debt problems are some how different to all others. This is not true, it is actually a mental stigma associated with being in personal debt, you are not alone and your financial problem is usually pretty much the same as others around you, it is your personal change in circumstance that will differ to other peoples, this is what creates the problem of being in debt in the first place.
Some people split from partners or others suffer a death in the family, others may have hours at work reduce resulting in less income, the list is endless but what is the same is the debt problem that people find themselves with due to being set back financially by the change in circumstance they may have suffered.
The main difference between an IVA and Debt Management Plan (DMP) is that
- An IVA is a legally binding agreement
- A debt management plan is not.
With a debt management plan you can expect to repay much of what you owe. With an IVA, the debt that is not repaid within a 60 month period is then written off by your creditors, this is agreed at a creditors meeting prior to the IVA commencing.
The IVA will guarantee to freeze any interest or charges being applied to your accounts, a debt management plan will not and it is down to the hard work and efforts put in by your chosen debt management company as to how quickly your debt is reduced, make your selection regarding your chosen debt company or debt service carefully!
- The cost of choosing or selecting the wrong debt company or agency to solve your debt problems can be as high as the interest being applied by your creditors to your accounts.
- The wrong debt company will have no concern on actually getting the job done, they are more concerned with extracting funds from you and fobbing you off with none truths.
For honest, genuine, debt advice and help in the UK, call our free debt helpline today using 0800 018 6868, your personal details are dealt with in absolute confidence and your call is free!
If you are trying to clear personal debts in the UK and have found that when applying for loans or credit you have been refused, there are options available to you that enable you to clear debts without another loan. The 3 best known debt solutions are listed below,
 Clear debt without a loan
- Debt Management Plan
- IVA or Trust Deed in Scotland
- Bankruptcy
Lewis Alexander is a specialist debt management company, we help people clear debts without loans, we also offer a free debt helpline to UK residents struggling with personal financial problems. The advice we give is based on individual personal circumstances and is often not what the person (possibly you) wants to hear.
This is where debt counselling comes in, we have a proven method of helping those that wish to be helped. Often in life, the truth is the hardest to accept, usually with any personal financial problem, there is an element of truth that needs accepting before the individual can move ahead. That is the hard part to get over and after what we call the acceptance period, the individual feels so much relief from the stress of the debt problem that they really can continue with a normal daily life just like they experienced before being in debt.
If you are suffering with financial problems such as mortgage arrears, missed or late payments on credit agreements etc, you must deal with the situation as soon as possible, in the time it has taken to read this article so far, you could have dialed our free debt helpline using 0800 018 6868.
Our advisors will help you to make a fresh start financially and offer you tested and proven methods that you can employ to combat the pressure from debt collection agents or lenders that may be chasing you. Letters and phone calls are the most worrying to people along with the threats of court action. There are laws that appertain directly to debt collectors and the procedures of collection that they undertake, more importantly, the Office of Fair Trading sets out debt collection guidance that the collection industry is expected to adhere to, just the same as the debt management guidance set out for debt agencies and not for profit debt charities.
For further advice and help on how to clear debts without loans, contact our free debt helpline today, lines are open 24 hours a day/ 7 days a week and your call is FREE.
- Do you need free help to clear debts in the UK?
- Are you struggling with your monthly repayments?
- Refused loans to consolidate personal debt?
At Lewis Alexander we understand how personal debt problems can impact on your daily life and we offer help and assistance to clear your debts without another loan. You do NOT need to take on further credit or loans to clear credit card debts or other unsecured credit agreements.
You can start by exploring proven debt solutions such as a Debt Management Plan or IVA (Individual Voluntary Arrangement).
Debt solutions such as bankruptcy are usually the last to be considered and also the most severe! Please remember that you should not pay debt companies for advice about how to clear personal debts.
There are many different ways of finding free help to clear debts, many sites online will offer information that when put together, gives you a broad but at times detailed explanation of solutions available to clear personal debt.
- Should you really trust the companies you owe money to when looking for free help to clear debts?
Help to clear debts in the UK is free, it is only when you use the services of a debt management company or Insolvency Practitioner that you would be expected to make repayments via a third party, other than when starting one of those two options, no individual should be asking you to part with any money unless you owe it directly to them.
- It is very important that people consider all options available when obtaining free help to clear debts!
Apart from the main 4 solutions (debt management plans, bankruptcy, Consolidation loans and Insolvency) there are no magic ways of wiping out debt, unenforceable credit agreements do exist but not in the numbers that some companies are advertising!
- Debt management should only be entered into with the right company, do your homework!
- An IVA should only be entered into with a licensed insolvency practitioner
- A loan to clear debt should only be taken from a licensed credit broker
- Bankruptcy is entered into through your local county court
Be careful of being charged upfront fees for help to clear debt and services that may not even exist, some companies are charging people for loan applications to clear debts and these people are finding that loans are still not available to them, even though a fee has been paid!
Should you wish to discuss you personal financial issues with a trained personal debt advisor and simply need help to clear debt, please call our free debt helpline using 0800 018 6868, our staff are UK based, lines are open 24 hours /7 days a week and your call is FREE. All calls are dealt with in confidence.
- Our national TV advert for personal debt management help and advice in the UK.
- Clear debts without a loan is the name of the advert, we did not spend much on producing the advert, we prefered to spend on showing it. We are proud of how it gets our message over without having to have spent a small fortune. This benefits our clients by helping us keep our costs down.
 Our National TV Advert for Debt Management Plans Call today for free debt help and advice if you are struggling with any personal debt issues using 0800 018 6868
Lewis Alexander, the personal debt consolidation service based in Manchester England, reports that calls to the free debt helpline they offer have doubled for the months of September / October 2009 when compared to previous years.
The “credit crunch” has obviously been the contributing factor of changes in circumstance for most people within the UK over the last 18 months. Many people will just carry on and find new or alternative employment where for others, it is much harder to do so.
This can be down to several factors such as age, ability, health, stress, depression, location etc.
Most calls received by Lewis Alexander on their free debt helpline are from people who have recently suffered a change in circumstance and need initial advice on how to deal with personal debt based on the change they personally have suffered.
- The main advice to take on board is that all priority debts such as Rent, Mortgages (including secured home loans), Council Tax, Electricity, Gas and Water are paid, or at least the companies are contacted by the individual to make new and possibly reduced payment arrangements for the short term future!
- Many credit companies and lenders will not offer this advice freely to the debtor and they put extra pressure on the situation that legally need not be there. Due to the way priority debts are structured under the consumer credit act, consumers must honour these first!
For more detailed advice regarding a change in personal circumstance, please conatact one of our trained debt advisors today in total confidence. Our lines are open and your call is FREE, call 0800 018 6868
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