Which debt solution is right for you?

Everyone's debt problems are different, and are affected by issues such as how much you owe, who you owe it to and how much you earn. That's why FreshStart really does create individual solutions for every one of our valued clients.

But while every answer we create is unique to your specific needs, these are the two main types of debt solutions that are available.

Debt Management

When people you owe money to are demanding payment, it can be a huge worry. But when you call us, we can deal direct with these people for you, sorting out affordable monthly payments on your behalf, and often freezing interest charges in the process.

The Benefits of Debt Management

Friendly	You don't have to worry about calling us - we're here to help.
Protective	In the majority of cases we are able to have charges stopped and future interest suspended.
Effective	We could freeze interest payments on the money you owe.
Sensible	We can sort out a monthly repayment you can afford.

Individual Voluntary Arrangement (IVA)

Depending on your debt level and if legal proceedings are already being taken against you, an IVA may be a sensible option. It immediately stops all legal proceedings and allows us to create a formal agreement with the people you owe money to that can write off up to 75% of your debts and usually allows you to be debt-free after five years.(obviously terms & conditions apply)

The Benefits of an IVA

Protective	Halts legal proceedings immediately.
Effective	Write off a significant amount of debt.
Sensible	We arrange a monthly repayment you can afford.
Final	Once the period of your IVA is over, you will be debt free.

Protected Trust Deed (Scotland Only)

Like an IVA, a Protected Trust Deed allows Scottish residents to arrange monthly payments which are acceptable to both you and whoever you owe money to. This will freeze all interest and other charges, and allow all your debts to be written off, usually after a period of three years.

The Benefits of a Trust Deed

Protective	Halts legal proceedings immediately.
Effective	Write off a significant amount of debt.
Sensible	We arrange a monthly repayment you can afford.
Final	Once the period of your Trust Deed is over, you will be debt free.

Frequently Asked Questions

We will be happy to answer all of your questions when you call us on 0800 111 6655. However, because we know that you may prefer to be fully informed before you call us, here are a few of the questions we are asked most frequently.

	What fees are involved?
	FreshStart will charge an initial set up fee for the work involved setting up your plan. This is normally equal to two months disposable income subject to a minimum of £240. Thereafter a monthly management fee of 17.625% subject to a minimum of £35 and a maximum of £100 will be charged. This will cover the month-to-month running of your plan.
	Will Debt Management be hard for me to organise?
	No, the best thing about Debt Management with FreshStart is that everything is taken care of. All you have to do is complete a few forms and return them to us in the stamped addressed envelope we provide you with, together with supporting documents such as recent statements. We will then start to work on your behalf and negotiate with your creditors.
	Is the plan a loan?
	No, a financial management plan is not a loan. You are consolidating your debts through us, but we are not lending you any money.
	Will you be able to freeze the interest and charges on my debts?
	In the majority of cases - Yes, providing your Lenders agree. We always try to negotiate a reduction or freeze any interest and charges which will result in more money to pay your outstanding debts.

Call us now on 0800 111 6655 for a discussion in the strictest confidence with one of our friendly, helpful experts – and start getting your debts under control today.

Your credit rating may be affected whenever you do not keep up repayments on a credit agreement, and the details may be recorded on your credit file for 6 years. In the same way, most debt solutions may be recorded on your credit file. Any information which shows that you have not been able to meet the repayments due will can make it harder to obtain credit in the future.

For more information about debt solutions, you can access the 'In Debt? Dealing with your Creditors' guide at www.insolvency.gov.uk