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Debt Solutions
How Can We Help You Overcome Your Financial Problems?
Unfortunately most people struggling with debt are not aware of all the options and support available to them. Action Today offers debt management services that support and give guidance by reviewing clients' financial positions and suggesting an appropriate cause of action to help them.
debt solution options
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Debt ManagementReduce your monthly payments
Action Today offers debt management services that support and give guidance by reviewing clients' financial positions and suggesting an appropriate cause of action to help them. In most cases it is not wise to refinance existing debts and our solutions are based on helping our clients to make their debts manageable. Our debt management is a tailored service that will help your regain control of your finances by:
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Debt Management PLUS+clear debts faster
Action Today offers a Debt Management PLUS+ service. It has all the benefits of regular Debt Management plus additional benefits, which offer you, the client, more for your money. Debt Management PLUS+ offers the support you need and gives guidance by reviewing your financial position, which allows us to plan a reduced monthly/weekly repayment plan, to clear your outstanding balances on any unsecured finance.
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IVA'sIndividual Voluntary Arrangements
An Individual Voluntary Arrangement (IVA) is a formal proposal, made on behalf of the debtor by an insolvency practitioner. An arrangement is forged so that the debtor pays his/her creditors an arranged percentage of the overall outstanding amount, over a period of usually five years. At the end of the IVA term the outstanding debt is usually written off. Individual Voluntary Agreements are complex solutions therefore it is important before entering in to this type of agreement that you fully understand the issues surrounding this type of action.
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Consolidation LoanMake 1 simple payment per month
Depending on your personal circumstances, you may require to borrow a sum of money to pay off multiple creditors. This type of loan is known as a debt consolidation loan and works on the principle that the repayments on a single, large loan will be lower than the sum currently being paid to repay multiple creditors. Borrowing large sums of money is a serious financial commitment therefore it is advisable to discuss your circumstances with a debt advisor to establish all the options available to you.
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Full and FinalAction Todays unique way of saving
A Full and Final Write off Fund is a product that is unique to Action Today. A FAF allows you to put aside any additional available funds each month, to accrue whilst your Debt Management Plan PLUS+ is running. Once these funds have accumulated to a sufficient amount we can then approach your creditors seeking a full and final settlement, which settles the balance of your account at a discounted rate.
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Remortgage PackagesRelease equity on your property
A Re-mortgage allows you to release equity on your property, or allows you to borrow a sum of money with a lower rate of interest than a debt consolidation loan so you can repay or reduce your debts. Re-mortgaging property is a serious financial commitment therefore it is advisable to discuss your circumstances with a debt advisor to establish all the options available to you.
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Scottish Trust DeedThe equivalent of the IVA in Scotland
A Trust Deed is a voluntary agreement between the debtor and the creditors in Scotland. It is an alternative to the bankruptcy and an equivalent to IVA for the Scottish residents. It is also known as Scottish Trust Deed. A Trust Deed can become protected only if 2/3 or more of your creditors (by value) agree to the terms and conditions. A Protected Trust Deed prevents the creditor from taking any further action against the debtor (like, filing for bankruptcy).
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BankruptcyThe short and long term effects
Bankruptcy is seen as the last resort when you have insufficient funds to pay your creditors. You or one of your creditors can file for bankruptcy, but once you are declared bankrupt you are lightly to be locked in to it for many years. Before you make any decisions as to the suitability of declaring bankruptcy, you need to know the main effects that going bankrupt will have on your current and future finances. Action Today can provide all the information and support you need.
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What's the cost?
We make it plain and simple so you can be confident
Your first monthly payment covers our implementation costs. After that, our ongoing administration charge is 15%. This is included in your monthly payments - not added on.
