Legal Notice

 

WE WISH TO MAKE IT QUITE CLEAR THAT THIS WEBSITE, ITS PUBLISHERS AND ITS CONTENT DO NOT SEEK TO IMPLY THAT BY USING THIS SERVICE, OR ANY OTHER SERVICE, PEOPLE WILL BE FREED FROM THE OBLIGATIONS OF MEETING THEIR DEBTS. WHEN YOU BORROW MONEY YOU SHOULD ALWAYS EXPECT TO PAY IT BACK ACCORDING TO THE TERMS UNDER WHICH IT WAS BORROWED; YOU SHOULD THEREFORE ALSO BUDGET FOR THE REPAYMENTS YOU HAVE THUS WILLINGLY ENGAGED IN UNDERTAKING. YOU SHOULD ALSO NOT FORGET TO BUDGET FOR DEBTS SUCH AS MORTGAGE, RENT, COUNCIL TAX AND UTILITY PAYMENTS, AND NEVER UNDERESTIMATE THEIR IMPORTANCE. COUNTY COURT JUDGMENTS MAY BE REMOVED FROM CREDIT FILES ONLY IF THE INFORMATION IS INCORRECTLY RECORDED OR THE MATTER TO WHICH THE JUDGMENT RELATES HAS BEEN DISCHARGED. APPLYING FOR ANY DEBT MANAGEMENT SERVICE DOES NOT AUTOMATICALLY GUARANTEE THAT ANY EXISTING OR THREATENED PROCEEDINGS FROM CREDITORS WILL BE WITHDRAWN. DO NOT IGNORE CORRESPONDENCE OR OTHER CONTACT FROM CREDITORS OR THOSE ACTING ON BEHALF OF CREDITORS.

DEBT MANAGEMENT PROGRAMMES ARE NOT SUITABLE FOR EVERYONE. SOME PEOPLE MAY NOT QUALIFY FOR AN IVA (OR PROTECTED TRUST DEED IN SCOTLAND), BUT MAY QUALIFY FOR A MORE CONVENTIONAL DEBT MANAGEMENT PROGRAMME. DEBT MANAGEMENT COMPANIES MAY DECISDE, AT THEIR DISCRETION AND IN THE INTERESTS OF THE DEBTOR, WHETHER OR NOT TO TAKE A DEBTOR AS A CLIENT, AND APPLICATION FOR ANY DEBT MANAGEMENT OR REDUCTION SERVICE DOES NOT AUTOMATICALLY IMPLY THAT THE APPLICATION WILL BE SUCCESSFUL IN ALL CASES. ALSO, IT IS TO BE NOTED THAT CREDITORS NEED NOT ACCEPT PROPOSALS TO REDUCE PAYMENTS OR FREEZE INTEREST (OFT366, PARA 3.4.3.1)

PEOPLE WHOSE CREDIT RATING IS THUS ADVERSELY AFFECTED SHOULD BE AWARE THAT THEY MIGHT NOT BE ABLE TO OBTAIN CREDIT IN THE SHORT TERM AND THERE IS A LIKELIHOOD THAT THEY WILL NOT BE ABLE TO DO SO IN THE MEDIUM OR LONG TERM EITHER. CONSUMERS MUST NOT BE MISLED INTO THINKING THAT THEIR CREDIT RATING WILL IMPROVE EARLIER THAN WHEN THE PAYMENT OF THEIR DEBTS IS COMPLETED, OR EVEN IMMEDIATELY THEREAFTER: RECORDS ARE RETAINED BY CREDIT REFERENCE AGENCIES FOR A FURTHER SIX (6) YEARS (AFTER THE DEBT HAS BEEN SATISFIED OR DISCHARGED). SUPPLYING FALSE INFORMATION ON A CREDIT APPLICATION FORM COULD AMOUNT TO FRAUD AND CONSTITUTE A CRIMINAL OFFENCE.

WE NOTE THAT IN PARAGRAPH 3.3 OF THE OFT'S DEBT MANAGEMENT GUIDANCE BOOKLET (OFT366) THAT THERE IS NO REQUIREMENT FOR ADVICE AGENCIES SUCH AS OURSELVES OR OUR CLIENTS TO HAVE A FORMAL CONTRACT WITH THE CLIENT.

WE FULLY AND WHOLEHEARTEDLY ABIDE BY THE OFFICE OF FAIR TRADING'S BOOKLET DEBT MANAGEMENT GUIDANCE (OFT366). COPIES MAY BE OBTAINED FROM THE OFFICE OF FAIR TRADING.