Find out if Churchwood Finance can help you

What is the total debt you owe?

Helping customers take control of their debt.

We understand the impact of debt and that everyone's circumstances are different. You might have heard of a debt consolidation loan, but there are other options which could help to reduce or clear your debts:

  • Debt Management Plans
  • Individual Voluntary Arrangements (IVAs)
  • Trust Deeds
  • Bankruptcy.

Fill in the form above with your details and one of our advisors will call you to discuss how we might be able to help.

TSI approved site debt management plan protocol approved DEMSA Approved
 

A Debt Management Plan example.

debt management plans
apply for a dmp
 

This example is for a new client who approached us in March 2014 for debt advice. From the first month of the client's debt management plan, 74.4% of their monthly contributions were distributed to their creditors (£159.96). The duration of the plan and the savings are dependent on any changes to the client's circumstances as the plan progresses, and may be longer or shorter than the 48 months quoted.

If you were to enter into a debt management plan, the duration and any savings would depend on your personal circumstances, your creditors and whether interest and charges can be frozen.

Helping people find a solution that fits their needs.

The answer for me was a Debt Management Plan

wipe off your debts
  • It's a flexible plan that lets me clear my debt at a pace I can afford.
  • I don't have to deal with my creditors, Churchwood do this for me.
  • A Debt Management Plan is not a method of writing off debt.

The answer for me was an IVA

  • My IVA lasts for a fixed period so I know how long and how much I have left to pay.
  • Any debt that I cannot pay back after this period is written off.
  • I am prohibited from obtaining £500 or more of credit during my IVA.

The answer for me was Bankruptcy

Bankruptcy
  • I couldn't afford to repay my debts in full within a reasonable amount of time.
  • My debts are legally 'wiped' off and my lenders will no longer contact me.
  • I will not be able to clear some of my other debts such as court fines.
 
 
Things you need to know.

About Our Fees

We charge a fee for our services. We provide a management service from the start to end of your plan.
We're with you all the way.

Impartial information

You can get FREE impartial
advice on your finances from the
Government's Money Advisory
Service.

Please remember

If you choose to restructure your debt over a longer term it could affect your credit rating and cost you more.

 

The Insolvency Service, an independent agency has produced a guidance leaflet on dealing with your creditors. Click here for a copy

how to clear debts

Still unsure? We're here to help.

  • We've helped thousands of people with their debts.
  • Our plans are based on your individual circumstances.
  • Interest and charges from your creditors could be frozen.


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Answer

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There are a range of debt solutions available that can help reduce or clear your debts, such as Debt Management Plans, Individual Voluntary Arrangements, Trust Deeds and Bankruptcy. Your individual circumstances will determine which product might be right for you.

Lenders do not have to freeze charges however, many mainstream lenders are signed up to the 'Lending Code' which is a set of standards that financial institutions can choose to follow. The interpretation of these standards may see lenders stop interest and charges to help a customer in financial difficulty, especially if it will help them to repay their debt. Other lenders may choose to reduce interest rather than freeze it. It is at the discretion of the lender.

A Debt Management Plan will affect your credit rating however it is likely that your credit rating has already been affected if you are missing payments.

If you are interested in enquiring about our services we have an expert team of advisors who will be able to help you with any questions you may have about our range of solutions.

At Churchwood we provide a management service from the start to end of your plan. Once you have signed up to a Debt Management Plan we will assign you to a dedicated member of our team who will be responsible for all your correspondence and any questions you may have.

There are a number of ways we can help you with your creditors. We will set up a payment plan to help you repay or clear your debts and you will no longer have to deal with your creditors, we will do this all on your behalf.







 
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