Debt management
Geo Finance Solutions – A world of opportunity
Our sister company holds a Consumer Credit Licence issued by the Office of Fair Trade. This ensures you that a bonafide and authorised company are working in your best interests. We understand that the trust and well being of our clients is number 1.
If you are struggling to meet your financial commitments and monthly payments they may be able to help. They can assess your financial situation and work out what you can afford to pay towards your bills without leaving you short of necessities. The legal team can contact your lenders and negotiate a lower monthly payment, asking them to freeze any interest payments or other charges levied on your account. The ideal plan works on a 24 month plan with a reassessment after 12 months.
Their goals are to help you every step of the way back to financial freedom and not a quick fix.
Example.
Mr Jones owed £18,400.00 to six creditors
MONTHLY:
LENDER DEBT INTEREST PAYMENT
- Credit Card 1 £4000 £49.00 £71.00
- Credit Card 2 £3000 £41.00 £65.00
- Unsecured loan £3000 £41.00 £74.00
- Store Card £1500 £26.00 £44.00
- Car Finance £4000 £51.00 £96.00
- Hire Purchase (tv & couch) £2900 £29.00 £61.00
Your monthly commitments would be £411.00 - £237.00 of which would be interest alone
Typically they would reduce your monthly payment to £250.00 of which a small fee is for your Debt Management Fee and the remainder is paid direct to your creditors on time every month by a firm of chartered accountants. This would save you the interest every month of £237.00 and ensuring no other charges are applied to your account. The monthly management fee of £43.75 is included in your monthly £250.00 payment – still giving you a massive saving of £193.25 per month.
Their aim is to bring your finances back into easy management for you and reduce your overall debt. They take care of all the upfront and monthly work lifting the weight off your shoulders in the confidence that dedicated case handlers are looking after your welfare.
Remember – they work with you - for you !
One of their specialist advisors can take your details in around ten minutes and pass this through to the legal team to see what the best service they can offer to you is. After taking your details a comprehensive information pack will be sent to you by post with all the necessary information.
No contact is made to your creditors until you have accepted and signed for the Debt Management plan, so you can see in black and white before making any commitment if the plan is right for you.
Once you receive your information pack the choice is yours to complete the enclosed applications and authorities to enable Geo Finance Solutions to begin working for you straight away. And if you need any more questions answered they’d be happy to assist wherever possible.