Content on this page requires a newer version of Adobe Flash Player.

Get Adobe Flash player

Content on this page requires a newer version of Adobe Flash Player.

Get Adobe Flash player

 
SiteSearch

  •  Home
  •  Broker Portal
    •  News
      •  Today's News
      •  Yesterday's news
      •  News Archive
    •  Features
      • Pension Credit: Am...
      • Illegal Money Lending...
      • Top 5 Money...
      • 5 Tax Dodging...
      • Derby based Mortgage...
    •  Debt Doctors
      •  Debt Doctors Archive
    •  Newsletter Sign Up
      •  CMC Broker Scams
        •  Broker Alert
          •  Boost Your Income
            •  In The Spotlight
              •  Family debt advice business scoops Franchisee of the Year award
              •  Dundee-based brokerage wins Business of the Year award for debt solutions
              •  One advisor, two debt management referrals and over £600 commission
            •  Franchisee Case Studies
              •  Debt management franchisees: Regaining control of their income
              •  Brokers branching out and regaining business
              •  Regional Adviser of the Year speaks out on going from bank manager to debt solutions franchisee
            •  Shop Front Broker
              •  Website Broker
                •  Award Winners
                  •  2010 Award Winners
                •  Make A Referral
                  •  Find A Debt Advisor
                    •  FAQs
                      •  Contact Us
                        •  Glossary
                          •  Site Map
                            •  Privacy Statement
                              •  RSS Feed
                                •  About Us

                                  DMTNews
                                  30th July 2010
                                   Top Story â€˜Significant’ number of brokers owed commission by failed debt firm
                                  Wednesday 28th July 2010
                                  It has emerged that one of the biggest debt management providers operating in the intermediary sector has entered liquidation proceedings, owing a ‘significant’ number of brokers commission. Manchester based debt management firm, TCF Debt Solutions, has appointed insolvency practitioners Clarke Bell, and has sold its assets for an undisclosed sum to another debt solutions firm – the MoneyPlus Group.   The website is still functioning and staff are answering the phones, although no one would comment on the firm’s current situation. Instead, Debt Management Today was asked to contact Chris Davis, CEO of the MoneyPlus Group. Chris Davis confirmed that his group completed the acquisition...
                                   Bank worker embezzled £150,000 to pay off credit card debts
                                  Wednesday 28th July 2010
                                  An indebted bank worker has admitted to an £150,000 fraud after racking up £70,000 of credit card debts, according to a BBC news report. Janie Cameron, 29, of Glasgow, worked as a customer services advisor at a South Lanarkshire branch of the Royal Bank of Scotland, where she embezzled the cash between...

                                  MoneyNewsTV

                                  Friday 23rd JulyDebt management weekly-up
                                  Thursday 29th JulyDebt fear for green scheme



                                   Consumer credit regulation may be taken from the OFT
                                  Wednesday 28th July 2010
                                  Consumer credit providers could be about to see some huge changes, as the Treasury reveals it may move the regulation of the industry from the Office...

                                   Northern Rock director banned for continued misreporting of mortgage arrears
                                  Wednesday 28th July 2010
                                  The FSA has fined the former finance director of Northern Rock, David Jones, £320,000 for publishing false mortgage arrears figures in the bank’s 2006 annual accounts....

                                   Divorce on the rise again as debt-ridden couples save up for split
                                  Wednesday 28th July 2010
                                  Often the most unlikely signs can point towards the end of a recession, with divorce being touted as the new mark of economic prosperity.   That’s right,...

                                  Like what your reading? Subscribe now!

                                  Content on this page requires a newer version of Adobe Flash Player.

                                  Get Adobe Flash player

                                  DebtSlave
                                  Diary of a Debt Slave
                                  I am twenty-eight years old. A university graduate. A regular, bright and fairly streetwise individual, who knows about the ways of the world and understands the relevance of the FTSE index... Read more
                                  In TheSpotlight
                                  In The Spotlight
                                  A true success story that has emerged from the recent 2010 Debt Management Today Awards is surely that of new EuroDebt franchisee, Jenni Slader.Read more

                                  I have been sent some info by Clear Today, they said that they would do a full settlement with my creditors and I only have to pay them 50% of the debt that they cleared, are they a reputable company?

                                  I assume we are talking about http://www.cleartoday.com/, who are a licensed Claims Management Company with authorisation number CRM16883. Resolve is another trading style and is featured as logo on the website – clicking on this logo takes you to TPL Claims. What is very strange is that they do not have a Consumer Credit Licence as Clear Today Limited (Company registration 06261448). It is illegal to offer debt adjustment services without a licence – which appears to be the case here. Of concern is the fact that a company called Pixpay Plc trades at the same address in Chiswick and has a trading style of Clear Today (CCL. 0596737) – who are licensed to provide debt adjustment and debt counselling services. This company is fairly young and was licensed in 2007 and is run by someone called Karl Ahmed. Both the Ministry of Justice and the Office of Fair Trading have issued strong warning before taking up the services of a Claims Management Company claiming they can get your debts written off because they are unenforceable. These stories are available on the DMT website. There is a major difference between them acting as a debt adjuster and negotiating a settlement of your debts for which they are not licensed AND challenging the enforceability of the credit agreements you have. You should also consider how you would be able to afford their fees if you are already in financial difficulty.

                                  I have been speaking to Portwood Financial about coming off my IVA (1 year in) and going on a debt management plan. I pay £200 per month into the IVA, but it is going up after my first review. I am wondering if a debt management plan is better, with the IVA I will have no money at all, they want extra if I earn it, but the debt management will go on longer. They say I can pay £100 per month, my debts are about £17k, and I'm unsure what to do.

                                  Defaulting on your IVA can have serious consequences and should really be discussed with your IVA supervisor. Where your disposable income increases there is a protocol in place to reflect your ability to make a larger contribution, but this is not all of your additional income as the original proposal should have been based upon £200 per month for typically 60 months. Any debt solution provider should use the same criteria to establish your disposable income using the Common Financial Statement, this would be used for both an IVA and a Debt Management Plan (DMP). So your contribution should be over £200 per month unless you genuinely can’t afford this. A DMP’s great strength is its flexibility and your monthly payments can be varied at any point, though your creditors will have to agree to freeze interest & charges. You may also want to consider the impact of a break in payments to your creditors where there appears to be no underlying reason why the IVA fails. Switching to a DMP on the same monthly contribution would not make sense as you would be paying back the whole debt (with interest & charges frozen) when you appear to have approximately 50% write off on your IVA. At this stage you will not have paid much to your creditors as you have mainly been paying the Insolvency Practitioner’s nominee fee in year one. You would probably have around 100 months of payments on a DMP to clear the debt in full, against a remaining term of 48 months on your IVA.

                                  Ask a Debt Question





                                  Debt Solutions |  Debt Management Advice London |  Debt Help Leicester |  Debt Management Bedfordshire |  Debt Management Birmingham
                                  Medianett Network Bridging & Commerical | Loantalk | Mortgage Recovery | Bridge Doctors

                                  DebtManagementToday.co.uk is a trading style of Medianett Ltd.. Medianett Ltd. is registered in England and Wales.
                                  Company Registration Number 05938228. VAT Registration Number 926 5359 02
                                  Registered office: 12 Addison Court, Brondesbury Road, London NW6 6AS. Data Protection Notification No: Z164 5525 | Privacy Policy