Anyone that you owe money to.
Any debt that is not secured on a property or vehicle.
Anyone you owe money to, who has a charge over your property.
A loan or credit card where both parties have signed the agreement. If you have
a credit card in your name but on your partners account, or vice versa, this is
not a joint debt.
As soon as you decide to do a DMS or IVA with us, provided that you return the forms
within a few days.
Simply instruct your bank by letter or telephone but you will need to keep paying
your mortgage or rent, utilities and insurances etc. Send a copy of your cancellation
letter to your creditors as well.
Creditors won't take you to court once they are aware you are doing a DMS or an
IVA, in any case the judge would adjourn the case pending the outcome of the DMS
or IVA.
You should instruct them to stop paying themselves, but they will probably refuse
to do so. In those situations you will need to open a new bank account at a bank
not connected with any of your creditors.
Contact Valour Financial Management for assistance to open a new account.
As a leading financial company, Valour Financial Management can only help people
who are genuinely unable to meet their credit commitments. Through dealing with
hundreds of clients every day, we are in a very strong position to agree reduced
payments with your creditors. Creditors are not obliged to reduce payments or to
freeze interest; these points are negotiable and should not be viewed as a right.
We use strict guidelines laid down by the British Banking Association when deciding
how much you can reasonably afford to pay. When working out your single monthly
payment we ensure it is both affordable for you and in line with the creditors'
expectations.
Your ability to obtain further credit may be affected. However, since the purpose
of the programme is to help clear the debt that you are already having problems
handling, this must remain the priority. The programme relies heavily on your payments
being made consistently. This will help build a payment history that will allow
us to recommend you to lenders we use for mortgages, loans etc.
Your credit rating may be affected, however, since you are experiencing some problems
maintaining payments, and due to your level of indebtedness your ability to borrow
will already probably be impaired. Significantly, when you have finished, we will
ensure you receive a letter to confirm that all your debts are satisfied. The payment
history you build with us is a valuable recommendation later.
Valour Financial Management is licensed under the Data Protection Act and Consumer
Credit Act. We appreciate the sensitive, personal nature of the information we hold
and pride ourselves in our extensive procedures aimed at safeguarding confidentiality.
We even use text messages as a discreet form of contacting you rather than burdening
you with more paperwork.
Your payment to Valour Financial is sensitive to any changes in your circumstances.
You may request a review of your payment amount at any time.