According to the British Bankers Association, the proportion of credit card balances  actually bearing interest was 74.3% as of June, 2006.  Add to this fact that the average interest rate on credit card lending is currently at 15.72%, an amount which is almost 11 percent above the base rate.  Considering these serious recent conditions, managing and paying off debt is a major concern for many people today.

            Hamilton Locke are licensed debt counselors who assist people with financial difficulties.  They do not encourage or obtain loans on behalf of their clients.  Rather, Hamilton Locke reviews each individual situation to determine a suitable repayment alternative.  It is actually possible to write off up to 75% of personal debts and repay the remaining balance of your debts over a period of five years.  Hamilton Locke has a staff of trained professionals who are familiar with the procedures required to minimize debt so that their clients can pay it back under comfortable terms.  Their major concern is to bring their clients back to financial health as opposed to accruing additional debts by securing loans. 

            Hamilton Locke & Co. has set up their own Debt Management Programme to assist clients in addressing their debts.  It encourages the client to take control of their finances by determining their monthly income, including the cost of necessities, such as rent, and analyzing the level of debt incurred.  Hamilton Locke negotiates with each creditor to reduce the amount of debt and the payments to be made.  They also request that any interest and charges being posted to your accounts be frozen.  Although those terms cannot be guaranteed for every case, most of the time the creditors are glad to agree so that they can stop paying for collection efforts and be assured that the debts are cleared in a shorter period of time.  When all the terms have been defined, the debtor makes one monthly payment to Hamilton Locke.  Hamilton Locke sends regular monthly statements to their clients to show who has been paid so that client feel reassured their payment is being constantly applied to their outstanding debt.

            Another means of satisfying problematic debt is an Individual Voluntary Arrangement (IVA).  To qualify for an IVA, you need to have debts that total more than £15,000 and be able to afford to pay back at least £200 per month.  Hamilton Locke negotiates with your creditors, who may then agree to write off up to 75% of your debt depending upon your individual circumstances.  You are then required to make one single monthly payment, which is monitored through Hamilton Locke, for a period of five years until your debt is resolved.  The monthly payment is determined by the amount of your outstanding debt and your income.  It is made to be affordable and simple.  At this point, your debt is settled and you are free of the stress that outstanding debts bring.  When an IVA is arranged, interest is frozen on your accounts and no further action can be taken against you for outstanding debts.  This relieves the day to day anxiety of increasing debt and collection contact over the post and phone.  Hamilton Locke presents this option to their customers as a reasonable alternative to bankruptcy.  However, if you do not qualify for an IVA you may still qualify for their Debt Management Programme and a trained debt counselor can properly advise you about  your options.

            The Debt Management Programme and assistance available at Hamilton Locke has been licensed under the Consumer Credit Act 1974.  Hamilton Locke & Company Limited are located in Cheshire and can be contacted through their physical address, email address, a free phone number or you can visit their website.  If you submit your information online at their website, a trained advisor will call you.  Hamilton Locke specializes in speaking with clients you have creditors chasing them over the telephone or post, who struggle to meet monthly payments, who worry and argue over the extent of their personal debts and who are seriously considering debt consolidation and debt management as a resolution to their financial difficulties.  Whether the debts are credit cards, overdrafts, personal loans, store cards, catalogs or even mortgage shortfalls, Hamilton Locke is committed to discussing possible solutions with debtors.

            Whether through an IVA or their Debt Management Programme, Hamilton Locke can help you to find a way to effectively handle your debts.