DEBT MANAGEMENT

“Dear Dino, many thanks for dealing & sorting my loan out for me. Muchly appreciated. Kind regards.”

Ms Kojczyk
London, England

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At Quick-e-loans we will help you by providing a debt management service through our trusted partners who will carefully evaluate your individual circumstances and financial position before recommending the appropriate debt solution.

If you fulfill the following criteria, you will be eligible for our debt management services:

  • Due to financial crisis you are not able to meet your current credit repayment obligations
  • You can manage to pay at least £100/month to your creditors
  • You have at least £8,000 of unsecured non-priority consumer debts
  • You owe at least 3 different creditors
  • Secured loans, mortgages and priority debts cannot be included. Priority debts include rent, council tax arrears etc.

How it works:

A good debt management programme works to your advantage by replacing multiple creditors with one company. It cuts down your hassle of arranging debts from various sources. You enter into a debt management agreement with a company that takes care of your debts. You will have to pay one consolidated instalment every month.

How IVAs work:

Many people start considering bankruptcy as the only option when they are overwhelmed by debts.  However, there are other alternatives like IVAs that are more beneficial for them. These are arrangements between debtors and creditors for repaying a part of the debt over a particular period. Usually at the end of the IVA any debt that remains is written off.

Pros and Cons of IVAs

Benefits:

  • IVA is an arrangement that prevents any legal action from the lenders
  • You can write off a large amount of money with its help
  • IVA take into consideration your repayment capability and monthly repayment are set accordingly
  • Within 5 years you can become totally debt free. You will also be able to save your key assets like your home etc.

Disadvantages:

  • If arrangements fail the cost will be added to your total overall debt. This may throw you off balance.
  • Your personal details are entered on a public register that might affect your credit rating.
  • You must be able to pay back to the creditors for an IVA to be successful.

All you need to do is contact us to discuss your options.

  

 

Our Loans are from £10,000 to £150,000

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