Can you settle my debts immediately… please?
With increasing numbers of Brits turning to debt management companies for help, the question we encounter most is ‘Please, please, please can you wipe out my debts as soon as possible?’
99% of the time the answer is “No” and at Lewis Alexander we believe that our responsibility is to set our customers on the journey to a stable long-term financial existence. Therefore, rather than starting with a solution we like to start by understanding the personal circumstances of each of our clients.
By completing a thorough financial healthcheck with any prospective new debt management client, we are then in a much better position to offer debt advice and debt solutions to best help our clients. Typically, we find that the most common solutions are:
(1) Entering into a long-term or short term debt management plan
- Where we negotiate with your creditors on your behalf
- Potentially stop interest accruing on your debt – this is not guaranteed!
- Agree reduced debt management repayment plans over an agreed period of time
(2) Re-structuring debt payments for our clients
- Where we discuss with your creditors the current debt repayment amounts, term of loan/debt & the interest rate
- Agree new terms that are more preferable to you if possible
- Potentially change the debt solution that you are using
(3) Arranging partial settlements for outstanding debts
- Where we negotiate with your creditors to encourage them to accept a reduced repayment, by way of one lump sum usually known as a short settlement or settlement in full and final.
- Ensure that any agreement is acceptable to all parties
(4) Entering into an IVA
- Whilst some of our competitors consider this to be the ‘first debt solution’ we prefer to use this as a debt solution of last resort.
- An IVA is a formal agreement where you come to an arrangement with creditors you owe money to, to make reduced repayments towards the total amount of your debt in order to pay off a percentage of what you owe over a set period of time, usually 60 months.
The choice of debt solution depends solely on the individual circumstances of our clients, but each of these options take time to negotiate, agree and formalise. The only true option that leads to immediately sorting out debt as soon as possible, is the 100% (or very near) repayment of all of your debt. Which, if we are being honest may have made you less likely to have called Lewis Alexander to access our expertise in helping ordinary people, like you, who are in debt!
The one thing that we can promise to do instantly, in all cases, is to identify a solution that best suits you. Should our service not be what you need we will try and refer you to a company or organisation that is better placed to help you. For many people who are in debt they would ideally like everything sorted using the wave of a magic wand, however, this does not happen but the feeling that their situation is being managed professionally is enough to take away a large percentage of the pressure of being in debt.
- Our free from a landline personal debt helpline is available by calling 0800 018 6868.
We believe that by providing easy access to our advice means that we are better equipped to start working on your personal solution as soon as possible should you qualify for any debt solutions that we can offer.
So, if you find yourself in personal debt and need some help to turn your personal finances around then call us on 0800 018 6868 now. Whilst we can’t promise instant debt clearance solutions, we do promise to work hard for clients and to look after your best interests.
- Call us today and see if we can help you to start to relieve some of the stress of being in debt.
- Our number again is 0800 018 6868.
