What are the next steps to set up my plan?
Please make sure that you’ve signed, dated and returned your Letter of Authority (LOA) and that you’ve completed your identity verification. If you’ve been asked to provide proof of name and/or address, please send these to us as soon as possible.
Once we receive your LOA we can start contacting your creditors to make them aware that you’re entering a Debt Management Plan (DMP) with us. Once this has done we can also begin asking them to confirm all your debt details such as payment information and balances.
In order for us to do this, we need you to check the list of creditors provided and confirm that we have correct account numbers for each creditor. We will not contact any creditor if we have missing or wrong account details, and you run the risk of the debt being removed if the correct details aren’t provided.
Once we have all of the correct accounts and balances confirmed and you’ve made your first payment, we’ll issue a financial statement along with your offer of payment to each creditor for them to set up repayment arrangements.
Why do I need to complete an identity verification?
Knowing our clients is extremely important to us, and forms a key part of our privacy policy.
As such, we’ll always seek to perform an electronic identity check via Experian, but only if we have your explicit consent to do so. In some instances we may also request copy of proof of name (i.e. copy of driver’s license or photo page of your passport) and proof of address (i.e. utility bill or bank statement).
Without this identity check, we won’t be able to set up a plan for you.
What is the Right to Offset?
The Right to Offset means that a bank has the power to remove money from your account to repay a debt you owe to them.
In our experience it’s unlikely that your bank will exercise this right, but you could consider moving to a new bank where you don’t have any debt if you wish – this will prevent money being taken from your account.
What do I do with my letters and statements - can I send them to you?
We only require certain types of correspondence – we’ll let you know exactly what these are if we need to see them. For example, we would need to know about a letter telling you that an account has been passed to a debt collection agency and/or may involve county court action.