Frequently asked questions
A Debt Management Plan or a DMP is where Fresh Start UK takes over all dealings with your creditors and their debt collectors, so you only deal with us direct. We can’t guarantee creditors will not contact you and we can’t guarantee they will accept the offers made, but we can guarantee a Debt Management Plan (DMP) with Fresh Start UK will minimise the calls and letter you do get. We use our experience and good relationships with creditors to agree the best repayment for you at an amount YOU have agreed.
No, once you enter into the Debt Management Plan (DMP) with us, we will contact all of your creditors within 24 hours. We work very fast to make sure you don’t have to worry about getting lots of calls and letters about debt.
Debt Management
Once we get in touch with all of your creditors you should receive noticeably less calls and letters. Your creditors by law will have to write to you to keep you notified of what is happening with your account, but we explain and deal with all letters and calls for you so you don't have to worry.
IVA & Bankruptcy
Once the IVA (Individual Voluntary Arrangement) or Bankruptcy order has been approved your creditors will not be legally able to contact you. If they need to prove you information they would have to go through your appointed Insolvency Practitioner.
Debt Management
We aim to stop all interest and charges to your accounts once we take them over and have a fantastic track record. Creditors are not obliged to stop or reduce interest and charges but we have excellent knowledge of the debt industry and strong relationships with creditors, we can often get them to stop all interest charges and fees as long as regular payments are made and kept to through Fresh Start UK.
Debt Management
Fresh Start UK is one of the only Debt Management Companies to offer Price Match and Beat, meaning if you can find Debt Management from another UK company cheaper than us, we will not only match their price, we'll then go on to beat it.
Price Match covers all fee areas for Debt Management, including Setup Fees and Monthly Management Fees.
Debt Management
Fresh Start UK is one of the only Debt Management Companies to have a money back guarantee on all Debt Management Plans (DMPs). We say if you are unhappy for any reason at any stage of the process, we will refund, without question, 100% of the last fee paid to us (up to 40 days). We pride ourselves in the best customer service and making our clients happy and comfortable and this offer is just one part of that. If you would like full details on this guarantee then please see the highlighted section in our terms and conditions, or contact us for more info. Terms and Conditions
An IVA is an Individual Voluntary Arrangement and is a form of Insolvency. An IVA is a formal and legal agreement made with your creditors through an approved Insolvency Practitioner. An IVA is typically 5 years and will be based on consistent payments being made at a fixed amount over that time. Upon completion of the IVA a discount is given, it's size depends on what was agreed in the creditors meeting.
During the IVA creditors must stop all interest and they are not allowed to contact you directly. As a formal and legal agreement the IVA cannot be broken by the creditors, providing the agreed IVA payments are maintained.
An IVA (Individual Voluntary Arrangement) is usually over 5 years and the amount paid monthly will always be different. What you pay into an IVA will depend on your particular situation, but we have provided an example below.
- Total Debts £50,000
- Term of IVA 5 years
- Discount 65%
- Payable 35%
- Total Payable including IVA fees £24,000
- Monthly Payment £400
The above is an example only, many people often pay less per month and have greater discounts. However, an IVA is a form of Insolvency and being able to afford to pay does not mean you are necessarily eligible. Contact us further information.
Bankruptcy is a form of Insolvency and enables people with no means of getting out of debt was way to make a Fresh Start in life. Bankruptcy is a formal legal process and should never be entered into without proper consideration and all the facts.
Most Bankruptcy orders last for 1 year and after you are discharged, all of the debts included in the order will be cleared and you will never have to pay them back.
Depending on your situation, cost can vary greatly for Bankruptcy. You do not pay a monthly cost or fee in most cases, as you would do in Debt Management or for an IVA. Bankruptcy is usually paid at the start of the process. You have to pay the court fees and the fees of the administrator and then give up any unnecessary or unreasonable assets. Everyday essentials are allowed, such as cloths, furniture and cheap cars. But if you're driving around in a Porsche and wearing a Rolex then they are put into the Bankruptcy.
If you are a homeowner, click here
Debt Management
In Debt Management there is virtually no risk of you losing your home.
IVA
In an IVA (Individual Voluntary Arrangement) there is a risk of losing your home. The greater your negative equity is the less likelihood of you losing your house there will be. If you have equity or a large amount of equity then you would quite possibly have to either release the equity, sell or offer the house in the IVA agreement.
If the mortgage is in more than one name and the IVA is for only one of the named, there is sometimes an option to sell your equity stake to the other mortgage holder, leaving your house protected.
Bankruptcy
In an Bankruptcy there is a risk of losing your home. The greater your negative equity is the less likelihood of you losing your house there will be. If you have equity or a large amount of equity then you would quite possibly have to either release the equity, sell or offer the house in the Bankruptcy offering.
If the mortgage is in more than one name and the Bankruptcy order is for only one of the named, there is sometimes an option to sell your equity stake to the other mortgage holder, leaving your house protected.
Debt Management
All offers of repayment are justified with details of your financial information so a creditor can see you are paying the most you can afford in your situation, so most companies will accept the offer we put to them. If any company refuses an offer we make, then we will contact you and let you know and then provide you with the best help and advice on what to do next.
IVA
An IVA (Individual Voluntary Arrangement) is subject to legal process and acceptance of the proposal is not guaranteed. The Insolvency Practitioner will negotiate the best rates at the creditors meeting but is unable to guarantee they will accept what is offered.
Bankruptcy
Bankruptcy is similar to an IVA and as a form of Insolvency the outcome is not guaranteed.
Debt Management
Yes, every month we will send you a statement, on this there will be a receipt for the payment made and the new balances of your debts so you can see where your money is going and your debt going down.
Debt Management
Yes, this is one of the lowest in the industry and we guarantee if you can find it cheaper, we will beat it! We charge the first month's payment to the Debt Management Plan (DMP) with a minimum of £100 and maximum of £600.
Example: If you pay £150 per month to your plan, in the first month we charge £150 as your total fee... no hidden extras. – This is also subject to our money back guarantee, and limitless cooling off period, so you can feel completely comfortable with Fresh Start UK.
Tokens: From the very start of the plan, from your first payment we can make small payments to creditors, so even though we have a fee, they still receive something. Call for more details.
Debt Manangement
Yes, this is also one of the lowest of any Debt Management Companies and we also guarantee if you can find it cheaper, we will beat it! There is a monthly charge to administer your Debt Management Plan (DMP) which is 17.5% of your payment, rounded up to the nearest £ and with a minimum of £35 per month and a maximum of £100. This payment is taken from your payment, not on top, so you are still able to pay what you can afford.This fee is based on £100 per month or more being paid as this is our minimum required.
Debt Management
No, the fee is the same regardless of the amount of money you owe and the amount of people you owe it to.
Fresh Start UK is one of the few Debt Management Companies that will take on most forms of HMRC Debt, including Tax, VAT, Council Tax and CSA. Dealing with these types of account isn't our main business but if you are in need of help we will asses your situation and try and provide as much honest and accurate advice. If you are struggling with Tax, VAT debt or any other 'Crown Debt' then call or email us and we will happily discuss you options.
Debt Management
Yes, it’s so easy, you make one simple payment to us and we make sure all of your creditors are paid on time. You don’t have to have a bank account either.
Our Plans start from £100, but each plan is based on what you can afford. We try and help anyone who is struggling with debt and asks us for help and if we can help you we can normally pass you to someone who can.
Debt Management
No, we have terms of agreement, so you know what we will do for you and what you need to do, but you are not contracted for any time period. Our Money Back Guarantee and limitless cooling off period should give you the peace of mind you need.
Debt Management Customers
- Standing Order (goes out of your bank account each month automatically, or someone else’s account, given their permission). FREE method.
- Payment slips you can pay cash or by cheque into a Barclay's. FREE method.
- Online or telephone you can transfer a single payment into our account if you have online banking or telephone banking with your bank. FREE method.
- Cheque. FREE method.
- Postal Order. Post office charge.
- Our Account Details. Bank: Barclay's Bank - Account Number: 83855260 - Sort Code: 20-43-49 - Reference Number: Your Customer Ref or your name
Debt Management
Once an account has defaulted from its original agreement the creditor will normally mark this on your credit file accordingly. Entering into a Debt Management Plan (DMP) will not have any effect on your credit rating as it has already defaulted. Once regular payments are being received your credit file will show this and it will help repair the damaging affect of the default.
IVA & Bankruptcy
An IVA (Individual Voluntary Arrangement) and Bankruptcy are both forms of Insolvency and consequently have much greater negative impact on your credit rating than Debt Management.
We get asked a the question do Debt Management Companies help Self Employed people and Sole Traders. The answer is, many companies don't but WE DO. If you own a small business or are Self Employed, whether Limited or Sole Trader formation we will happily speak with you about what services we can and can't offer.
Many of our clients have run or do run small businesses and we were able to help them with personal debts, personal debts they have accrued to use for the business and many sorts of business debt including HMRC Tax and VAT. Call or email for more information on Debt Management for Self Employed and Sole Traders.
Fresh Start UK has been dealing with Showman and Showpeople for years and we have a small but strong following in the community. There is a special part of our website that is dedicated to Showman CLICK HERE. We are based in Hull but can arrange to come out to see you wherever you are in the UK. We can help with personal debt, like credit cards and bank accounts and also help with loans attached to rides and other large equipment. We know the industry and help a lot of Showman families, so give us a call for more details on 07533924610.
We often get calls and emails from people asking if they can move or change Debt Management Companies to come over to us. We always say that if the Debt Management Company you are with is not doing a very good job, then you should shop around for a better deal, move if you have to, but don't put up with poor service.
We make the process as easy as possible for you to change over to Fresh start UK. We understand that you want the process to be very quick and not to cause you any hassle... and why should you expect any less. All of our Debt Management Plans (DMPs) are setup within 24 hours of receiving all of your paperwork back. That means if you post it Monday, (we send prepaid 1st class return envelopes) we get it Tuesday and by the end of Tuesday all of your creditors have been updated. Quick and easy.
If you are looking for Debt Management in Hull or around the Hull area then we would love to hear from you. The Best Debt Management Company in Hull... we'll let you decide that, but we are the longest established Debt Management Company in Hull and have the most experience at helping people. We offer our services over the whole of the UK but if you live in Hull we can come and see you or you can come to us.
We believe that face to face is much better as you know who you are dealing with. We don't need much notice for a visit, just a day or two normally, as we don't like to keep anyone waiting, so give us a call on 01482 247 999 and ask us about home visits.
We have added a Debt Management News page to our site, this keeps our clients and followers up-to-date on what is happening in the world, as well as Debt Management News, we also have general news... mostly relating to Finance in some way. Show us you care and follow us at ... Debt Management News.
This is a question we hear a lot, people often ask who is the best Debt Management Company in the UK and our answer is always the same. There are so many Debt Management Companies in the UK that finding the answer would be pretty tough.
It is our belief that there is a best Debt Management Company for each individual based on what they are looking for. We offer A full 100% money back guarantee on all of our services, unlimited cooling off period, one on one customer care and we will do just about anything to ensure our client's are happy! If that sounds like the best Debt Management Company in the UK then email or call.