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Our Debt Solution Process
Our Debt Solution Process
We understand that when you are deeply in debt, harassed by creditors and worried about your home and your family, you are likely to be stressed and vulnerable.
We are committed to making the process of obtaining advice on the right debt solution for you, hassle-free and straightforward. Carrington Dean has earned a reputation as a name you can trust for ethical expert advice on debt – we take that responsibility seriously.
From the first conversation you have with us to the day you make your last debt repayment and are ready to start afresh, we will always be transparent and upfront about every aspect of your dealings with us.
There are some variations in how the process of entering a debt solution works, depending on the particular solution that you enter based on your personal circumstances. In any case we will always provide full details on all options so that you are never rushed into any decisions and can consider all of the facts carefully. However the same basic steps apply.
Our friendly team gather the facts to find a debt solution that is right for you.
From the very first chat you have with us to the day you clear your debt and start anew, we will always be transparent and upfront about every aspect of your dealings with us.
We start with a conversation which allows you to find out more about what how we can help you and allows us to gather essential facts about your finances so we can be sure that you get the best advice. You can talk to us by phone or we can arrange a personal consultation in one of our private rooms.
Our staff are highly-trained professionals with expert knowledge of debt solutions and we place an equal emphasis on treating clients with courtesy, kindness and respect.
Getting accurate information on what you owe is vital so that we can put together an action plan to tackle your debts in the most effective and beneficial way for you.
Don’t worry if you have missing paperwork, unopened bank statements or bill demands – we go through data patiently with clients to build a complete picture of their finances. That includes income, expenditure and assets so that we can assess how much ‘disposable’ income you may have every month and work out the best way forward.
Starting a conversation about your debt can feel like the hardest step of all, we do all we can to make it simple.
We provide straightforward independent expert debt advice you can trust.
Carrington Dean has earned a reputation as a name you can trust for ethical expert advice on debt – we take that responsibility seriously. We are committed to making the process of obtaining advice on debt solutions, transparent and straightforward.
We have extensive knowledge of and experience in the full range of debt solutions and can guide you through different choices open to you and recommend a course we believe will deliver the best outcome for you.
We will be clear about the advantages and disadvantages of each option, the timeframes involved and any potential implications for your financial situation and credit record.
We will also clearly explain any fees payable to us and how and when these would be deducted and we will explain our role in representing your interests and negotiating with creditors on your behalf.
We will give you all the facts you need to make an informed choice about your debt.
We respect your right to consider all the facts for yourself and then to make your own well-informed decision on which debt solution best meets your needs and those of your family.
We don’t rush you and there’s no hard-sell. We empower you with the facts you need to act decisively and select a solution which can protect you and your home from the threat of legal action and start you on your journey back to peace of mind and solvency.
You choose the solution but we act for you and save you hassle and stress.
You choose your own solution but we take care of making sure it is properly managed so you can have peace of mind that creditors will get paid and you can stay on track towards clearing your debt.
One of the biggest advantages of having us act for you is that we take responsibility for all contact and negotiations with your creditors which means you don’t have to deal with them yourself or worry about unwelcome knocks at the door or final demands in the post.
We are experienced in negotiating successfully with Creditors to secure affordable and manageable debt payment agreement for our clients. We also deal with government officials or legal representatives on your behalf and we have a strong track record for securing Creditor backing for fair and reasonable debt payment plans.
5. We manage your payments
The duration of debt payment plans varies depending on the solution and sometimes also depending on a client’s circumstances. However, in every instance there needs to be a reliable system in place to ensure payments are made regularly and recorded accurately.
Trust Deeds usually run for around 48 months, while Debt Arrangement Schemes have no fixed term. Meanwhile, Sequestration (a term which refers to bankruptcy) tends to have a shorter timeframe, 12 months with payments lasting for 4 years in total.
We have many years of experience in efficiently administering debt solutions for tens of thousands of clients and we are regulated by the Financial Conduct Authority. We take care of all record-keeping and making payments to creditors on your behalf so that you do not have to shoulder that burden.
6. We keep you informed
One of the most worrying things for many people about finance is not knowing where they stand and being afraid to ask. That won’t happen when you deal with us. We will keep you informed on a regular basis so that you will have a clear understanding of the progress of your debt payments and where you are on the journey towards becoming solvent again.