A recent survey conducted by the Financial Services Authority (FSA) determined that nearly three quarters (74%) of British couples find money to be the hardest subject to talk about.  Perhaps this is because there has been a 7.2% increase in consumer credit lending to individuals in the past 12 months and total credit card debt in July, 2006 was  £54.7 billion.  Considering the current conditions, people need a resource to assist them with effective debt management and debt consolidation.

            DebtMatters is more than the eye-catching television commercials you see during your favorite program – it is a leading financial solutions provider with years of experience helping people to clear their debts.  The professionals at DebtMatters are highly trained and highly skilled in talking through all the options available to find the one that suits you.  They offer a free consultation so that you can find out possible solutions prior to making a decision.  Debt Matters does not ask for up front fees and if they do not find a solution for you, you will pay nothing.  The advice provided is impartial and confidential and Debt Matters assists people with debts that range from  £10,000 to over  £100,000.

            The first step to an assessment of your financial circumstances is to contact Debt Matters on the telephone to arrange a face to face consultation.  You can also complete a financial questionnaire form and submit it to Debt Matters by telephone, in writing or by email.  DebtMatters will then review your financial information so that they can make a recommendation to you about the most appropriate way to go forward.  If Debt Matters feels that they can assist you, they will prepare a proposal for you based upon your individual financial circumstances and what you can afford to pay.  If that is not a viable option, Debt Matters will be honest and advise you accordingly.  The next step is Debt Matters will send a copy of your proposals to each of your creditors and begin negotiating with them to get them to agree to the arrangement on your behalf.  Sometimes creditors will agree to legally write off up to 75% of your debt.  The worst thing that can happen at this stage is your creditors reject your proposals – however, Debt Matters find that in 9 out of 10 cases they handle, the proposals are accepted.  The final step is when Debt Matters prepares an order for you to make a certain monthly payment into your voluntary arrangement.  This arrangement is supervised by Debt Matters and distributed amongst your creditors until the final payment is completed and you are considered debt free.

            When Debt Matters prepares your proposal, it will contain no requirement for you to sell or remortgage your property.  If you own a home and there is equity in it, Debt Matters may discuss the idea of offering it to your creditors to achieve a more attractive proposal and bring your arrangement to an early conclusion.  You can also keep assets that are used to satisfy the domestic needs of you and your family, such as a vehicle to transport you to and from your place of employment. 

            When a final order is prepared for your voluntary arrangement, additional interest cannot accrue and your creditors must halt all collection actions.  Once bound by the order, your creditors cannot change their minds and are paid from the funds held in your voluntary arrangement account.  As long as you keep up with your monthly payments and comply with the terms of your proposal, at the end of the set term you have no financial obligations to your creditors.  Under the law, they must write off what you still owe and you are now debt free.