Frequently Asked Questions
- Trust Deeds
- Bank Charge Recovery
- Remortgages
- Debt Management
- Trust Deeds -
How much do I have to pay?
It depends on what you can afford. Our trained staff will work out a monthly payment plan with you
Will I still be contacted by my creditors?
No. Once the Trust Deed is in action you won't receive any more payment demand letters or calls from your creditors
Can anyone get a Trust Deed? Do I need a minimum level of debt?
There is no pre-determined level of debt required. Every Trust Deed is specific to the individual's personal circumstances
Can I change jobs while in a Trust Deed?
Yes, but you must tell your trustee about changes in your financial circumstances
How long does a Trust Deed last?
Usually 36 months
Will this affect my credit rating?
It may affect your credit rating, although creditors may have already recorded adverse findings against you
I live with my parents. Will it affect their credit?
No. Trust Deeds are personal arrangements
Is a Trust Deed a loan?
No. It is a process where your income is assessed and an affordable payment plan is created
Is a Trust Deed an accepted and government approved debt solution?
Yes. Trust Deeds have become a recognised and popular method for individuals to deal with financial difficulties
- Bank Charge Recovery -
How do I know how much I have been charged?
We apply to your bank for a list of all the charges incurred on the account for the last 5 years (6 in England) and establish which are recoverable
How much will the process cost me?
A one off payment of £10, which we pay to the bank to enable them to collate the charges made to your account
I get charged a fee every month for a service, can I claim that back?
No. Banks have the right to charge for certain facilities
Is there a limit to the amount I can claim?
No. We will claim back all unfair charges incurred on your behalf
What if the bank will not provide details of my charges?
In 96% of all cases we handle, the Banks comply with our requests
How long will the process take?
It depends on the bank, although banks must reply to our request within 40 days
My partner and I have a joint account. Can we both reclaim our charges?
Yes. You will both sign the relevant documents to make your claim
Will it affect my credit rating?
No. We legally reclaim what's yours!
- Re-mortgages -
Is there a fee for advice or information on mortgage products?
No. All our advice is free
Will I have to deal with more than one company?
No. Debt-Advisers.com work closely with specialist mortgage providers on your behalf
Can I get a 100% mortgage with no deposit?
That depends on your financial situation. We look at every case individually and try to provide the best products to suite your needs
- Debt Management -
Who can enter a debt management agreement?
Anyone who is struggling to pay their debts
Can I pay by standing order?
Yes. You can set up an automatic payment to fund your Debt Management agreement
How long does a Debt Management agreement last?
That depends on the individual's circumstances and debt level. We work out the lowest payment over the shortest period of time possible
Will creditors continue to contact me for payments?
No. Debt-Advisers.com handles all communication with your creditors
What does Debt-Advisers.com do for me?
We negotiate with your creditors and request they freeze or reduce interest charges. We then receive a monthly payment from you and administer it to your creditors
Is it a Debt Management agreement a legally binding contract?
No. A Debt Management agreement is a voluntary arrangement that can be stopped at any time
