Debt Management
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Pathfinder Debt Management can offer you a simple and effective route out of debt.
We understand the pressures and stress that you face with unmanageable volumes of
debt – our services are designed to offer you a sensitive and understanding
solution – guiding you back onto the road to debt freedom.
A Debt Management agreement could be an option for you if your creditors have refused
to support an IVA. |
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What is a Debt Management arrangement? |
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A Debt Management arrangement is an informal agreement made by Pathfinder and with
your creditors to repay unsecured debts.
By using Pathfinder we can arrange for you to make a single monthly repayment which
we distribute to your creditors under the terms of the agreement with them.
We will not ask you to raise equity from your property to finance the repayment
agreement.
As part of our agreement with your creditors, we will request that interest and
penalty charges are stopped or reduced so that your final repayment is fixed and
does not increase.
Please note that this is not guaranteed for all creditors.
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How do I qualify for a Debt Management agreement? |
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To qualify for a Debt Management agreement you must have more than 2 creditors with
combined debts of more than £5000.
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How will my repayments be calculated? |
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We will work with you to calculate how much you can reasonably afford to pay your
creditors. We will then negotiate with your creditors to reach an agreement.
You will then make a single monthly repayment to Pathfinder who will manage the
distribution of payments to your creditors on your behalf.
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How quickly can my Debt Management agreement be set up? |
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Pathfinder can set up your management agreement quickly depending on your situation.
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What fees will be charged by Pathfinder? |
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Pathfinder fees are the 1st month’s payment contribution to set up the arrangement
and 17.5% of the ongoing monthly payment will be retained to cover our costs.
For free, professional and impartial advice on how to manage your debts, call us
today.
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