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What are Debt management solutions?
Debt management is a way of consolidating your existing debts from unsecured lenders* to a monthly or weekly affordable payment. To help explain this see the example on the right.Finding a Solution
Can you relate to this example, or maybe you have been made redundant, a long term illness, maybe a split with a partner, maybe all this happened years ago and you didn't realise it was so serious because the creditors kept raising your credit limit. There are many reasons why people get into debt and normally there is an easy solution if you look in the right place.Confused? Scared?
The trouble is after trying to talk to the creditors you feel confused, fearful of what they will do if you don't pay them what they ask. You remember all those horror stories you've heard from your friends and colleagues. The creditors know this. This is what they want, and this is how they get their money.Know your rights
Unfortunately for them you have rights too. If we can prove, by doing a simple financial statement, that it is unreasonable to maintain what you are paying them, then we can design a repayment plan with a reduced amount per month. From this point onward you will not have to deal with your creditors again. You will make one monthly (or weekly) reduced payment to Chambers Moore Ltd and we will distribute the negotiated amount proportionally between your creditors. If you receive letters you simply forward them to us and we will action them accordingly. If you receive a phone call do not enter into conversation but simply give them our number and terminate the call. This is not illegal as some people would have you believe, it is your right!* bank loans, overdrafts, credit cards, store cards, catalogues, HP on most household purchases including furniture and pc's (except Crazy George's) utility bills from companies no longer being used, but NOT secured loans against a property or a HP against a motor vehicle still in the owners possession.
Example:
A family of 4 have a total household income of £1,500 per month.They pay £500 a month to their unsecured creditors leaving £1,000 to pay their mortgage, utility bills, food, and keep the car on the road.
At this moment in time everything is under control. Unfortunately, the father has had his overtime cut and the mother cannot yet return to work (the children are still too small and nursery fees are too expensive) and they find they have lost £300 per month from their usual income.
They now have what they consider to be a dire situation, the creditors still want their £500 and appear to have a total disregard for the family's misfortune.
How can this family now live on £700 a month if they still have to pay their creditors the full amount?
They can't, but they have rights, and we can prove they can afford a managed account of £200 towards their creditors and still live a normal life! These open ended, non contractual plans last for as long as they are needed and can be adjusted accordingly to fit in with future changes in income.