Frequently asked questions on Debt Management

 

• Will you deal with all of my debts?

At Hamilton Associates we deal with all your unsecured credit and non-priority debts.  This includes personal loans, overdrafts, catalogue debts and outstanding utilities etc.

When we assess your financial situation, we make suitable allowances for you to be able to afford your priority payments Mortgage, Rent, Council Tax.

• Will I end up paying for longer?

We negotiate lower monthly payments on your behalf, your debt will take longer to repay, however the repayments will be affordable.  Our programme is only offered to clients who because of their financial circumstances, cannot afford to make the minimum payments to their creditors.  Hamilton Associates want to get you out of debt as soon as possible.  We regularly review your circumstances so that when more money is available to your creditors we increase payments so that a shorter term is then possible.

• Why can’t I negotiate with creditors myself?

You can Hamilton Associates is here as an alternative because many people don’t feel equipped to Negotiate for themselves, or they are to busy, stressed, emotional or depressed to deal with creditors.  Sometimes the relationship with your creditors may have broken down , or you are simply unable to meet your creditors demands.  Hamilton Associates aim to get you plan sorted for you as fast and efficiently with little stress to yourselves.

• Does being in debt management affect my credit rating?

If you are experiencing debt problems and you are or have been behind with your payments it is probable that most of your creditors have already recorded information concerning this with UK consumer credit agency’s who re callcredit, Equifax and Experian.  If you opt to ignore your financial problems hoping they will sort themselves out, the credit reference agencies will almost certainly be informed by the creditors or via the courts legal action is taken against you.

• What happens if my creditors contact me?

Should your creditors contact you once you have joined Hamilton Associates debt management then you do not discuss you account with them.  You are given your own unique reference number and all you need to do is give them the reference number and our name and tell them you are in debt management.

• Can you help with a County Court Judgement?

At Hamilton Associates Debt Management we deal with the paperwork that the courts issue to you as a priority and only offer to the courts what you can afford.  Should you have already been taken to court and you did not fill the paper work in then we get the court to relook at your case and negotiate for a payment plan to be set up.

• Can you stop the interest on Loans and Credit Cards?

At Hamilton Associates we are 95% successful on getting interest stopped on your credit cards and all late payment charges and over the limit charges stopped once a payment plan has been agreed. 

• How do I know that my creditors are being paid?

Hamilton Associates have all the payments sent to our client account and all monies paid by yourselves are sent to your creditors on a daily basis within 3 days of receiving the money.  We send you statements to show all payments made on a regular basis.  We pride ourselves on a efficient system that both the creditors and customers are happy with.

• How much do you charge towards your management fees?

Hamilton Associates charge a management fee which is an ongoing fee payable within your debt management plan.  Our charge is a minimum of £15.00 to a max of £40.  This is dependent on number of creditors and debt value.