June 2007 | The Debt People

Monthly Archives: June 2007

Britons holiday spending out of control

Written on June 29, 2007 by Nathan Cameron

More than a third of Britons are out of control with their holiday spending and are in danger of storing up financial woes when their sun-tan has faded according to research from Chiltern Debt Management. It asked more than 1000 people about their holiday spending habits and discovered more than one in ten people will pay ...

Chiltern UK Limited – Management Buyout

Written on June 29, 2007 by Nathan Cameron

- What is your opinion?

The management team headed by incoming Chief Executive Mark Bowler has been backed by Aberdeen Asset Managers Growth Capital ("AAMGC"), the private equity division of Aberdeen Asset Managers Limited. Senior debt and working capital facilities were provided by HSBC's Corporate Banking Centre in Sheffield. HSBC's funding was led by David Hunt from the South Yorkshire Corporate ...

Credit Card Confusion costs Consumers £500m

Written on June 27, 2007 by Nathan Cameron

- What is your opinion?

Credit Card Confusion costs Consumers £500m Confusion over the way credit cards charge for cash withdrawals and purchases is costing consumers £500m each year according to Nationwide Building Society. Its research showed almost seven out of ten people didn't know the debt charged at the highest interest rate - usually for cash withdrawals - ...

One million CCJ’s a year!

Written on June 1, 2007 by Nathan Cameron

- What is your opinion?

Number of CCJ’s doubled in the last two years The number of people taken to court over their debts has almost doubled over the last two years according to figures released by the Registry Trust this week. The number of CCJ’s has topped 247,187 in the first quarter of this year and is set ...

Fees & Information

We cannot guarantee a reduction in interest or charges. If an IVA is not maintained it could lead to bankruptcy. Whilst initial debt advice is free, fees will be charged if a solution is taken out.

Fees related to Debt Management Plans are in two parts;

"Initial Fee" means your first two "Monthly Payments", which is paid by You to "Us". This represents our fee for establishing your arrangement, and therefore is not distributed to your creditors, and can be paid in two separate instalments. Retention of this fee will put you into further arrears.

"Monthly Fee" means the Fee payable for our Services each month. This is an amount equal to 17.5% of your "Monthly Payment" (apart from your first two "Monthly Payments" which is the "Initial Fee"), subject to a minimum payment of £30 for disposable incomes of 0 - £100, and £35 for disposable incomes of £100.01 - £200.

Fees incurred for Individual Voluntary Arrangements are variable dependent upon the monthly contribution to the arrangement and the agreement that is reached with your creditors. Fees are made up of Nominees fees relating to assistance given to prepare your proposal and Supervisor fees which relate to the ongoing monitoring of your IVA. Fees are already included as part of your monthly contribution. The level of fees and the method of payment are both agreed by your creditors at the outset of the arrangement.

A record of your agreement with us will be held on your credit file for up to six years, and your ability to obtain credit in future may be affected.

You are provided a cooling off period of fourteen days from the date the agreement was deemed to commence, during which you may cancel our agreement. Should you give notice to us that you would like a refund of a payment, or payments, (being other than the initial fee) then where no distributions have, at that time, been made by us, or are in the process or course of being made by us, in respect of that payment or payments this will be made in full (i.e. without deduction of our fee of 17.5%).

Monthly Archives: June 2007

Britons holiday spending out of control

Chiltern UK Limited – Management Buyout

Credit Card Confusion costs Consumers £500m

One million CCJ’s a year!

DEMSA/OFT Approval

ICAEW Membership

R3 Membership

Fees & Information