You might be thinking if I can do it myself, why should I use a debt management company? While it is true you can do it yourself, you would be missing out on the benefit of working with experienced professionals who have built up a good relationship with creditors and collectors.
You'll have people working with you who:-
• Know exactly how to set up a plan
• Are easy to contact
• Who can negotiate a fair and reasonable payment with creditors
• Give you the best options for relieving your debt.
Are there any other advantages?
You will know exactly where you stand as your payments go out on the same day every month, with quarterly reviews of your account. You'll have a free legal service that can be used at any time during the plan, too.
To start setting up your plan, call Whitewater Debt Management now on 0845 021 0217.
Bailiffs
My bank has said they are going to send a bailiff round to collect their money. Can they do this?
No, a bank cannot send round a bailiff. The only time a bailiff can be sent is if you have defaulted on an earlier court order. This is because a bailiff can only be instructed and sent by a county court or sheriff’s office – not by a debt collector. This is a trick debt collectors use to try to get you to pay.
For more information call Whitewater Management on 0845 021 0217.
Collectors
Why has my debt been sold to a collection agency?
As creditors have taken big losses over recent months, a growing trend is for them to sell your debt on to collection agencies.
Therefore it is possible that a collection agency will start chasing you for a debt where Whitewater Management have been negotiating with the original creditor.
This is normal and is nothing to worry about. The creditor probably hasn't communicated to the collection agency that you're being helped by a debt management company, so instead of coming to us, they come to you.
However, you don't have to deal with them. Simply forward your paperwork to Whitewater and we'll contact the collection agency and, in most cases, we will be in the position to make the payments to them instead on a monthly basis.
You can stop the hassle from collection agencies and start a debt management plan today. Call us now on 0845 021 0217.
Credit ratings
Will debt management affect my credit rating?
By the time many people enter debt management plans, they will already have missed payments. By being in debt management you are effectively enhancing your credit history.
This is because credit reference agencies will tell the truth, and the truth is that you are starting to make regular payments via your plan, therefore creating a more positive payment history.
But please be aware that your history will also reflect the fact that you are not making your contractual payments, i.e. the required payments, but are in fact making payments that are less.
You can start improving your credit rating and get out of debt. Call Whitewater Management on 0845 021 0217.
Do I deal with creditors?
You won't have to deal with your creditors once you have instructed Whitewater Management to be your debt management agents.
Any letters or telephone calls you receive you will refer straight to WhiteWater Management. If any of your creditors contact you, you will give them your unique reference number and we will sort out any issues that they have.
Whitewater Management operates a complete transparency policy with you, so you know exactly what we are doing at all times while using the utmost discretion with your finances.
Don't let your creditors hassle you. Pass them over to WhiteWater Management today on 0845 021 0217.
How long will I be in debt management?
There isn’t a single answer to this – every case is different. Debt management is a positive step towards resolving your debt problems, but it is not a quick fix. It depends on how much you owe and how much you can pay.
Being in debt management demonstrates your commitment to repay your creditors.
When creditors see this commitment, they will begin to make settlement offers to you. These can reduce your debt and allow some of your debt to be written off. You then begin to settle your accounts one by one until you are debt free.
To let us assist you in becoming DEBT FREE, call us on 0845 021 0217.
How soon can I start?
How soon can I start a debt management plan?
Within a week you could have a debt management plan set up with Whitewater Management, and start making reduced payments to your creditors within the first month.
The sooner you make your payments, the happier your creditors will be. They will see a commitment from you to want to make regular repayments.
Set up your plan straight away and start getting out of debt. Call us now on 0845 021 0217.
What happens when I start a debt management plan?
Once you have chosen to set yourself on the path to being debt free using a management plan, one of Whitewater management's representatives can visit you in the comfort of your chosen environment.
Following a discussion of your situation and once we have your paperwork, this is what will happen:-
1. Whitewater will write to your creditors requesting an up-to-date balance
2. When this is received, we will write to your creditors again with a suitable offer of repayment.
3. Your creditor will then respond either by letter or telephone to Whitewater as to whether this offer of repayment is acceptable, which in the majority of cases it is. Often the interest and charges on your account will then be frozen, as long as regular repayments are maintained.
4. Following this, you can pass any further paperwork you receive from the creditors on to Whitewater, so your situation can be dealt with efficiently and promptly on your behalf.
You can start creating your debt management plan today. Call Whitewater Debt Management on 0845 021 0217.
FREE EBOOK
Real Life Examples!
Mrs Seseri of London has a loan with a balance of £9,643.28 and it was noted by the loan company “we write to confirm that we are prepared to accept £21.90 per month”
Mr Kawsar of Cambridge has a Barclaycard with a balance of £6,976.88. We offered to repay this at £8.32 per month and they stated “that the offer is acceptable….we’ll suspend interest charges whilst we’re receiving regular payments”
Mr Smith of Luton had a Lloyds TSB credit card with a balance of £2,203.08 and within 18 months of instruction with WhiteWater Management we managed the following result “we confirm receipt of the partial payment of £328.00 which is accepted in full and final settlement of the above account”
Ms Aldridge of London has a credit card with a balance of £2,393.13 and their solicitors took the client to court to claim the outstanding balance. Our legal team managed the following result from the court “To the defendant, you have made an offer of payment which the claimant has accepted….You must pay the claimant by instalments of £2.77 per month.”
Miss Jackson of Essex owes £1,914.65 on her Capital One credit card and they agreed “The first payment of £9.06 should be made by 20th November and then by 20th of each month for the next 12 months. Interest and default sums will no longer be added to the account as long as the payment plan is kept.”
