Are you struggling to make ends meet? Has a sudden change in circumstances affected your financial situation? We can help.
As a licensed professional Debt Management Company, Gemstone Financial Management can provide you with practical advice and support on a range of debt solutions. We can advise you and assist you, dealing with your creditors on your behalf.
We will draw up a Debt Management Plan which combines all your unsecured debts into one manageable monthly payment that will pay off your debts to your creditors as part of an agreed repayment programme. One of our team of dedicated and professional account managers will work with you for the duration of your plan to find the most effective debt solutions to help you get your finances back on track.
If you can manage regular payments into your Debt Management Plan, we may be able to arrange concessions from your creditors such as a suspension or reduction of interest and relief from further charges, although such concessions are negotiated from case to case and cannot be guaranteed. This plan may mean that your repayment period is longer and that the total sum paid may be larger. It is important to understand that any delayed or missed payments to creditors, or failure to pay our plan setup fee, may result in your accounts going further into arrears.
Another one of the debt solutions we can offer advice on is the Individual Voluntary Arrangement (IVA). This is a legally binding agreement with your creditors to pay back a percentage of your debts over a set period of time (usually five, or sometimes six, years). A licensed Insolvency Practitioner will assess your circumstances and formalise the agreement which can sometimes require the disposal of some personal assets. After living expenses, the remainder of your income is paid to the insolvency practitioner, who will deduct a fee and then distribute payments to your creditors. Home owners may be required to remortgage their property in the fourth year in order to release equity to their creditors. The initial cost of an IVA is usually the equivalent of 5 months' payments, with an ongoing cost of around £1,200 per annum, as agreed with your creditors. However, you will not need to paythese in addition to your normal monthly payments.
Getting an IVA is not guaranteed, as creditors holding at least 75% of your debt by value must agree to, or not vote against, the IVA. Once the IVA is agreed, creditors cannot add fees or charges to your debt and will not chase you for any further payments. And once the IVA is complete, any remaining debt is written off. Before entering into an IVA you should be sure that you can make the payments, as if an IVA fails the Insolvency Practitioner may have to file for your bankruptcy. We can provide access to market leading Insolvency Practitionerswho can guide you through the IVA process. All costs will be covered by your monthly payments.
Call us today on 0800 112 4313
As a licensed professional Debt Management Company, Gemstone Financial Management can provide you with practical advice and support on a range of debt solutions. We can advise you and assist you, dealing with your creditors on your behalf.
We will draw up a Debt Management Plan which combines all your unsecured debts into one manageable monthly payment that will pay off your debts to your creditors as part of an agreed repayment programme. One of our team of dedicated and professional account managers will work with you for the duration of your plan to find the most effective debt solutions to help you get your finances back on track.
If you can manage regular payments into your Debt Management Plan, we may be able to arrange concessions from your creditors such as a suspension or reduction of interest and relief from further charges, although such concessions are negotiated from case to case and cannot be guaranteed. This plan may mean that your repayment period is longer and that the total sum paid may be larger. It is important to understand that any delayed or missed payments to creditors, or failure to pay our plan setup fee, may result in your accounts going further into arrears.
Another one of the debt solutions we can offer advice on is the Individual Voluntary Arrangement (IVA). This is a legally binding agreement with your creditors to pay back a percentage of your debts over a set period of time (usually five, or sometimes six, years). A licensed Insolvency Practitioner will assess your circumstances and formalise the agreement which can sometimes require the disposal of some personal assets. After living expenses, the remainder of your income is paid to the insolvency practitioner, who will deduct a fee and then distribute payments to your creditors. Home owners may be required to remortgage their property in the fourth year in order to release equity to their creditors. The initial cost of an IVA is usually the equivalent of 5 months' payments, with an ongoing cost of around £1,200 per annum, as agreed with your creditors. However, you will not need to paythese in addition to your normal monthly payments.
Getting an IVA is not guaranteed, as creditors holding at least 75% of your debt by value must agree to, or not vote against, the IVA. Once the IVA is agreed, creditors cannot add fees or charges to your debt and will not chase you for any further payments. And once the IVA is complete, any remaining debt is written off. Before entering into an IVA you should be sure that you can make the payments, as if an IVA fails the Insolvency Practitioner may have to file for your bankruptcy. We can provide access to market leading Insolvency Practitionerswho can guide you through the IVA process. All costs will be covered by your monthly payments.
Call us today on 0800 112 4313
Gemstone Financial Management Specialists in debt management solutions, debt consolidation, debt solutions , debt help and bankruptcy advice. Call now on 0800 112 4313
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