More Information

We can help those who…

• Have over extended themselves with credit cards, loans or overdrafts
• Monthly expenditure now exceeds their monthly income
• Are using credit cards to pay off other debts or to pay for items they previously bought with cash
• Have had a consolidation loan refused
• Are in circumstances due to a divorce, separation, bereavement, loss of job or overtime
• Who feel like no one is listening

Please be assured:

• You will not be charged for an initial consultation
• You are under no obligation whatsoever
• All your details will be kept in strict confidence

Why Choose ‘MCI Debts Team’ For Your Debt Payment Plan?

There are numerous organisations currently offering free debt management and consolidation programs across the UK.

• Unlike many of our competitors our debt team adopt an ETHICAL approach to debt advice and debt management.
• You will only be recommended debt management if this is absolutely the right solution for you.
• Our debt management consultants will review your circumstances regularly and assess all available solutions, in turn helping you to manage your debts successfully
• If there are other options available to you apart from the debt management programme, we can advise you accordingly
• Instant access to our ‘Tax Team’ this service provides a solution to unpaid tax bills

The Simple Process

• A confidential telephone conversation is carried out to discuss your circumstances and assess the relevant course of action. Should a Debt Management Plan be considered the most appropriate solution our debt advisor will complete an Income and Expenditure review.
• If it is felt that monthly outgoings can be reduced by using a debt management plan, they will send out an information pack, along with relevant authority forms. These need to be signed giving authority to speak to you creditors.
• A dedicated advisor will assist you in completion of documentation. On receipt of the information they will immediately contact your creditors advising them that the debt team are acting on your behalf and requesting confirmation of up to date balances.
• Once in receipt of your creditor(s) balances for each item of credit The ‘Debt Team’ prepares an accurate Income & Expenditure report, which is issued to your creditors, along with a proposal for a ‘pro-rata’ payment, in line with what you can reasonably afford.
• The ‘Debt Team’ then liaises with your creditors to ensure their proposal is accepted. On acceptance the payment plans are implemented creditors then receive the agreed monthly amount. You may occasionally still receive creditor statements but, these will be for your information purposes only.
• You can contact the ‘Debt Team’ at any time if you find that your circumstances have changed. They will conduct an up to date review, agreeing a different payment if necessary.
• The ‘Debt Team’ automatically reviews your payment plan regularly, to ensure they are providing you with the very best advice.

INITIAL FREE CONSULTATION

If you would like to discuss your own particular circumstances in complete confidence and receive relevant advice free of charge and with no obligation then call us on 01923 803994 or email us at: info@mcibrokers.co.uk

Conditions apply Repaying debt over a longer period may increase total amount repaid. Your ability to obtain credit will be affected in the short term and might be affected in the medium to long term. Fees are payable.

Frequently Asked Questions   

Frequently Asked Questions

Does debt management affect my credit rating?

If you already have a debt problem, it is likely that your credit rating has already been affected. If you are unable to meet the original contracted terms of your credit agreement your creditors will register that you are in default. This will be recorded on your credit file and will normally be retained on your file for 6 years.

What happens when I first contact you?

Once you have made an enquiry either via the website or by e-mail or telephone we will arrange for a debt adviser to talk to you about your particular circumstances and answer any queries that you may have. It may be necessary to arrange a convenient time for one of our debt advisers to recall you to go through your financial details.

The time can be arranged whenever it is convenient for you, including weekends or in the evenings if you are unable to do this during the day. The call usually takes no more than 30 minutes and you will be under no obligation to go further should you choose not to.

What information do I need to have available?

If at all possible we will ask you to have the following information available:

• Details of ALL of your creditors, including account numbers and recent balances
• Your income and expenditure details
• Details of any county court judgements
• Mortgages and secured loans
• Hire Purchase Agreements and Leases
• Maintenance and CSA payments

If my reduced payments are less than my interest charges, does this mean I'll be paying forever?

Most lenders will freeze interest charges when dealing with a debt management company. This is because they can see that you are making a genuine effort to pay your debts and are doing so with the assistance of a professional organisation.

How do I know I'll be able to maintain the reduced monthly payments?

Any repayment proposal is agreed between you and your debt adviser and is based on the information you have supplied, which takes into account all your finances. That is why it is imperative that you include all the information asked for.

How long does the Plan last?

That will be determined by how much is owed and the amount you can realistically afford to pay your creditors each month.

You’ll be given an indication of the likely length of the plan at the outset, but it will always be dependent on your creditors freezing interest and other charges on your accounts and your circumstances not changing.

What happens if my circumstances change?

If this should happen whilst the plan in place, you will need to let us know immediately. Depending on your situation a revised repayment plan will be negotiated with your creditors. As a matter of course, the ‘Debt Team’ will regularly review your plan with you and amend your monthly payment if necessary.

Is my home at risk?

If you’ve got a mortgage; an allowance is made in determining how much you can afford to offer your unsecured creditors through the payment plan. This will usually leave you enough money to continue making your mortgage payments. Providing you do this, your home is usually safe.

More Information