This website is
provided for consumers for the purpose of providing data for our associates,
Leads Clearing House, a trading name of Michael Anthony, West Lodge,
Lincolns Lane, Brentwood, Essex, CM14 5QT. This website is an affiliate
website of the same. Some pages of the website may refer visitors to
our associates, 123 Debt Solutions Ltd, 10A - 10C Dryden Road, Wavertree
Technology Park, Wavertree, Liverpool L7 9PG ( Data Protection Act registration
number: Z9746355, Consumer Credit Licence No: 600823) and also Quick
Credit Score, a trading style of Adaptive Affinity Limited (company
registration number 5493004, registered office Cavendish House, 369
Burnt Oak Broadway, Edgware, Middlesex, HA8 5AW, consumer credit licence
number 636411).
The reason for referring data to different associates is because of
their expertise in different areas of their discipline. As it is our
duty and our statutory responsibility to ensure the best service to
you that we can, we do not necessarily confine our service to only one
associate, but to as many as we feel can provide a comprehensive service
covering the whole spectrum of requirements that our website visitors
may have. We are here to serve our website visitors, and to carry their
enquiries safely, efficiently and swiftly to the suitably qualified
professionals who will be able to provide the services as stated on
the website. We ourselves do NOT provide debt management service.
All references to
advice given, etc., relate to our associates, as stated above. In addition,
we must make it clear that, while we do not carry out the end-services
as described, nevertheless we are required by law to adhere to the rules,
regulations and core values of the Consumer Credit Act. We strive to
provide a professional service at all times.
Other debt management
options are available and may be more suitable.
While it is normal
for creditors to agree to stop contact with debtors, including writing
letters, phoning and sending round doorstep agents, it cannot be guaranteed
in all cases that this will happen. The cessation of contact from, or
enforcement action by, creditors cannot be guaranteed.
Debt management
options described here are only available within the jurisdiction of
the United Kingdom.
People who use the
services described here do not become free of the responsibilities of
the need to meet their household bills and to pay their debts. It is
important that people budget to meet the payment of their debts, and
particular care should be taken when meeting financial obligatyions
such as utility bills, council tax and rent or mortgage payments.
Creditors are not
obliged to accept any debt management plan that it is put to them. It
cannot be guaranteed that creditors will readily agree to any repayment
plan. No early settlement with creditors can be guaranteed. There is
no guarantee that a creditor will accept a payment offer in full and
final settlement of a debt.
Freezing of interest
of accounts subject to debt management plans or IVAs is normal, but
this cannot be guaranteed in 100% of cases. Rescheduling a debt or debts
may, in certain cases, lead to an increase in the total sum to be repaid,
an extended repayment period, and/or impairment of the consumer's credit
rating.
Orders and CCJs
cannot be written off unless their validity is substantially incorrect
or unless they are wrong in detail. All such references will remain
on your credit record for a period of six years. Entering into a debt
management plan such as an IVA will be entered onto your credit record
and will remain for a period of six years. Details of your indebtedness
will be enterd into a public register. This may affect your ability
to get credit in the short term, and may also affect your ability to
get credit in the medium and long term as well.
There are certain
risks involved with IVAs. In particular:
i. if the arrangement
fails this could lead to bankruptcy;
ii. homeowners
may be required to release any equity to pay
off some or all of their debts;
iii. if the
homeowner has to remortgage his property to release
the equity, his ability to obtain a mortgage may be restricted
and is likely to be on less favourable terms. For example, the
mortgage may attract higher interest rates;
iv. where the
homeowner is unable to obtain a remortgage, the
IVA can be extended for up to 12 months;
v. there are
restrictions on the debtor's expenditure whilst in
the arrangement;
vi. in an IVA,
those creditors that hold at least 75 per cent of the
debt by value must agree to the terms of an IVA before it is
accepted;
vii. in a PTD,
at least half in number of creditors
representing at least two thirds of the value of the debt must
agree to the proposal before it is accepted;
viii. only unsecured
debts within the IVA or PTD may be written
off at the end of the period and those not included will
remain outstanding.
It should also be
noted here, in respect of people taking out an IVA or a Protected Trust
Deed (in Scotland), that:
i. if the arrangement
fails this could lead to bankruptcy;
ii. if the consumer
is a homeowner, he may be required to
release any equity to pay off some or all of his debts;
iii. if the
consumer has to remortgage his property to release the
equity, his ability to obtain a mortgage may be restricted and
is likely to be offered to him on less favourable terms. For
example, interest rates applied to the mortgage may be
higher. Where the debtor is unable to obtain a mortgage the IVA
can be extended
for up to 12 months;
iv. with regards
to IVAs, creditors representing 75 per cent of
the value of the debt must agree to the IVA proposal for it to
take effect;
v. with regards
to PTDs, at least half in number of the
creditors, or two thirds in relation to the value of the debt,
must agree to the trust deed proposal for it to become
protected.
Other debt management
options are available and may be more suitable. You could also get advice
from Citizen's Advice Bureaux (CABX) and other sources of information.
In entering into
any debt repayment arrangement, including applying for any debt management
program on this website, including IVAs, you MUST make a truthful declaration
of income and expenditure on your application, and you MUST pay (and
make allowances for)
priority debts such as mortgage payments, rent, council tax, utility
payments, court fines, income tax and child support payments including
any arrears already incurred on those debts.
Do NOT ignore correspondence
or other contact from creditors or those acting on behalf of creditors.
We recommend always communicating in writing, and making sure that creditors
also put their communications in writing. You can insist to creditors
that they communicate with you in writing only, although we cannot guarantee
that creditors will do this. Some creditors will try to make you agree
to things on the telephone, which is why we do not recommend communicating
with them by phone. They will ask you to phone their number; they may
advise you of this, or they may print this in large and/or bold lettering
and/or refer to this number as a 'Helpline'. But we recommend that you
only communicate to them in writing, and that you tell them so.
When making an application
for debt management help from this website, be assured that the application
itself is free, but be advised that for any subsequent services or agreement
entered into a fee will be paid, as for any commercial service. A commission
is received by this website upon supply of validated data. All data
is confidential. Data is held in compliance with the Data Protection
Act 1998 and with relevant European directives including the Privacy
and Electronic Communications (EC Directive) Regulations 2003.
Many bogus services
have been advertising that they can write off your debts completely,
and for no fee. These have been forced to stop trading by the OFT or
their local Trading Standards office and other bodies, and their directors
punished. Similarly, some companies have charged up-front fees for services
which have either never subsequently been offered, or for services which
would have been rendered at a much lower cost from reputable suppliers.
These, too, have largely been put out of busines by the relevant bodies.
Beware of businesses
which claim to do more than appears credible. A good rule of thumb is
"If it sounds too good to be true, then it probably is". Beware
of companies or websites which do not appear to be licenced by the relevant
authorities.
This website: Consumer
Credit Licence number 633327.
County
Court Judgments, High Court Judgments and decrees
In Scotland judgments are called decrees and are issued by the small
claims and
summary causes sheriff courts.
County Court Judgments (CCJ), High Court Judgments (HCJ) and decrees
are entered
on to public registers operated by Registry Trust Limited.85 This includes
the Register
of Judgments, Orders and Fines (for England and Wales) run on behalf
of the Ministry
of Justice as well as similar registers for Scotland, Northern Ireland,
the Isle of Man
and Jersey. Judgments and decrees are also recorded by credit reference
agencies for
six full years from the date of judgment.
A judgment can only be removed from the Register and from credit reports
if the full
amount is paid within one month of the date of the judgment or if the
judgment is
'set aside' by the court (this means that the judge has withdrawn the
judgment, either
because it is wrong or so that a person can defend the claim).
A person can apply to the court to have a judgment set aside where he
has a genuine
reason. If the judgment is set aside, things will go back to the start
of the claim. If a
judgment is re-issued and the consumer cannot pay the full amount within
one month
of the judgment, the new judgment will be put on record for six years
from that date.
A judgment can be marked 'satisfied' if the full amount due is paid
more than a
month after the date the judgment was given. However, the entry will
remain on the
Register and the consumer's credit report for the full six years.
We advise all our
website visitors to read the free leaflet provided by the Insolvency
Service called ‘In Debt’, available here.
This website trades
under the trading name of the website name itself and under the trading
name Inteltab. Contact details for this site can be found on our Help
page and our Contact Us
page.