For all of us, getting in debts is quite easy. A little ignorance towards our spending and there went the blissful financial days.

Broadly speaking there only two reason to get into debts either you faced a catastrophic situation and find your income reduced or because of the irresponsible spending and usage of credit.

Most of us are in debts because of the first reason; redundancy, disability, death in the family, emotional upheaval, divorce, critical illness are few reason where you might find that you are no longer able to pay the monthly payments for the credit card or loans. Even though you can’t help the situation, you need to deal with this situation reasonably and ensure that your finances aren’t going any worse.

Second reason to be in debts is miss management of funds and irresponsible spending. If you are in debt because of these reasons, getting out of debt will be a difficult task for you.

Whatever the reason may be for your current situation, reasonable budgeting and immediate steps will help you save the situations from the worse.

Firstly, you need to look at your bank statement and figure out areas, where you have been spending a lot and figure out ways to cut down the costing. These areas could be food and household, gas, electricity, water, clothing etc. In an attempt to control your expenditure you might want to change your current providers for better deals.

Second and Most Important step, is to speak to your creditor and try to reduce down the monthly payments expected on your account. This can be bit tricky as you need to provide the in depth details of your financial situation to your creditor with a few other details and hence, you can sign up for Repayment Management Plan (RMP, special debt management program from RMS) which will take the burden of your debts from your shoulders.

With an RMP in place you are only required to pay a single payment to RMS and we pay to your creditors. As a professional organization, we present the required documents and facts to your creditors and also request them to freeze any interest or charges applicable on the account.

You must also find ways to supplement your income and stop or cut down expenses on eating out, movies and other stuff.

Getting out of debts, after you have messed it once can be really difficult. Take steps now and ensure a safe future with your RMP.

Contact us on 0800 135 7143, for a free assessment of your income and expenditure. Our advisors will be more than happy to provide a free offer of payment and an array of suggestions best suited for your profile.

As the current research and studies show as the unemployment is again increasing, as many individuals are loosing their jobs or are unable to work due to disability or any other reasons, debts have become more of concern for people.

The New Year, as well, has arrived with a record increase with petrol and VAT, while the mortgage lenders are also making it difficult to get money for refinance.

All this will surely result in a crease on your forehead and might as will be giving you sleepless nights and even though you may not be sure about whether your job is in danger, you can sure be ready for the worst, if it was to arrive.

It is important, to ensure that if you loose your job you ensure that you reduce, if possible completely stop, to live on credit. This can be difficult, as even people who are full time employed will find it extremely difficult to cut down on their usage of overdraft and credit card. However, you must stop using these services incase you are unable to pay for them. It is also important that one must create an emergency fund for at least 6 months, enabling you to pay your bills and debts on time even if you lost your job or is unable to work.

It is also equally important to keep a realistic view about the number of cards or overdrafts, one must use, as these will in turn become debts incase they are not dealt and paid on time.

If you lost your job already, then you might find it difficult to put these suggestion to actions and hence you should call us on 0800 135 7143 and agree a Repayment Management Plan i.e. RMP, according to your affordability and situations.

When in financially trouble, what makes you worried more than even a job interview would calls from your creditors asking for payments or starting up legal proceedings. When its a call between unemployment and debts, the one at a loss will only be you.

Best suited to individual, who have low income or have lost job, a RMP will help you to manage your debts even with less payments and will lift the pressure of dealing with your creditors.

RMP is one plan that is not just for the time when you are on a low income scale, but for those as well who have a lot of commitment but not enough funds to satisfy them.

This program will help you to deal with your debts and will also allow you the piece of mind that comes when your finance are managed, logically and realistically.

Contact us on 0800 135 7143, for a free assessment of your income and expenditure. Our Advisors will be more than happy to provide a free offer of payment and an array of suggestions best suited for your profile.

Dealing with Debt Collectors / Solicitors is often considered the worst part of being in debts. Debt Collectors / Solicitors are third parties dealing on accounts on behalf of the creditors for recovery of the outstanding amount.

Debt Collectors / Solicitors like Creditors have full right to contact you over the phone, email and post and can request payments for final settlements against the outstanding debt. They can also start legal proceeding against you, incase you disagree to settle the debt in full or find yourself unable to agree a payment plan, resulting in a charging order, attachment of earning or other similar charges that can gravely affect your finance and your ability to borrow credit in future.

A particular debt is passed to a Debt Collectors / Solicitor incase you are unable to make payments, have defaulted your payment agreement or didn’t respond to the attempts of the creditors seeking contact for payments. 

However, if a debt collectors or a solicitor is seeking contact with you regarding an unsettled debt, its best for you to contact a financial advisor.

Repayment Management Services specialize in dealing with Creditors, Debt Collectors and Solicitors and agree a repayment plan that will allow you to buy more time to settle these debts and find a rhythm in your finance.

If an account is passed to a third party for recovery, it is obvious that the account holder is considered a defaulter and hence is not qualified for any kind of rebate. However, with a reasonable explanation of income and expenditure, a legitimate reason for struggling to pay the said payment and acceptable offer of payment even a Debt Collector or a Solicitor can accept payment offer.

We, at RMS, provide the best debt solution available for any individual based on the affordability and ensure that a simple but effective debt management plan is in place with your creditors.

With RMS, at your side, you would no longer be required to deal with your creditors or need to pay any payments to your creditors. Just sign up for a Repayment Management Plan and let all the worry of your debts lift from your shoulders.

Contact us on 0800 135 7143, for a free assessment of your income and expenditure. Our Advisors will be more than happy to provide a free offer of payment and an array of suggestions best suited for your profile.

Often, when we try to set our finances in order and find a permanent way to get the debts out of the way, we get confused because of the various solutions available for someone in debt stress.

The most popular of these available solutions is Consolidation Loan, where the debts are consolidated in one loan with one interest. It does not affect the Credit History and the applicants are mostly allowed to borrow extra money for personal use. What we don’t realize is by consolidating are loans we are not getting rid of our debts but, in some cases increasing the outstanding amount. This leads to a vicious circle of getting one loan to pay off another.

Therefore, in case you are aiming to be debt free and wish to be the boss, when it comes to your financial situation, Debt Management Plan is your best option.

Like any other debt solution, even Debt Management Plan also have its pro and cons. However, if you have unsecured debts with high interest rate and you are finding it hard to make ends meet, then a Debt Management Plan is something that might help you. Even though, a Debt Management Plan has a negative effect on your credit history, it helps you to get back on your feet even with less income.

As a Debt Management Plan, is easily available and you can apply for one regardless of your social status, you can make payments that you can realistically afford without putting an additional financial strain on yourself. Also, compared with IVA, Debt Relief Order and Bankruptcy etc. which gravely affects your credit history and is reflected on your credit files, Debt Management Plan is not reflected on the credit files as it’s an informal agreement with creditors.

So, if you have unsecured debts of more £1000 and you are finding it hard to maintain continuous payments, you can opt for special Debt Management Program offered by Repayment Management Services i.e. RMP (Repayment Management Plan).

RMP will help you pay all your creditors without adding an extra strain on you financially. When your RMP is set, you will be provided with a dedicated Account Manager available to sort your queries and deal with your creditors. Monthly Statement, Timely Review and Free Phones are few other services that we provide you to make you finances sound and your life simpler.

Contact us on 0800 135 7143, for a free assessment of your income and expenditure. Our Advisors will be more than happy to provide a free offer of payment and an array of suggestions best suited for your profile.

The common reason for most people to fall in debts is because of the no or incomplete information on how their accounts work.

The recent survey conducted with the clients of RMS has revealed that the debts are a result of poor administration of available funds and incomplete information on how their different accounts work i.e. overdraft, credit card, store card etc.

The fact that most individual are not aware about the limit on each account, interest and different charges levied on different accounts is the most basic hurdle one faces to manage these accounts. Also, as many individual decides on paying their bills on the basis of the available funds rather than paying the debts where the interest & charges are higher compaired to other accounts, and end up being in debts with the highest interest & charges bearing account.

The best way to deal with your accounts is to first prioritize them on the basis of interest and charges which will be levied on them, then on the fact that which of these accounts you will need to use in near future (like store card to buy grocery, credit cards or overdraft to be able to pay various bills excreta) and the on the affordability of funds. This way you will be able to get rid of the unnecessary interest or charges and be able to use those which are necessary for your expenditure. 

It is also important to be continuously updated about your account status and be ready to communicate with your creditors incase you need any assistance or help in paying your debts.

We, at RMS understand that, it is not possible with everyone to be able to find out time out of their busy schedule to sort their debts and therefore, we provide you the very services you need and lift up the burden from you to communicate with your creditors and be on time to pay your bills.
 

Contact us on 0800 135 7143, for a free assessment of your income and expenditure. Our Advisors will be more than happy to provide a free offer of payment and an array of suggestions best suited for your profile.

It’s often seen and observed that some of us base our financial decisions on emotions rather than facts, resulting the beginning of financial mess.

Money & financial decisions should be based on facts and should only have one aim, Financial well being. Hence, it is important that we must first start talking money and realize the required actions, which must be taken to avoid unreasonable spending.

Mentioned below are few steps you might take to avoid being in financial mess and can also help even if you are under debts and want to take financially correct information.

The first and most important step is to decide a budget and rigorously follow the same throughout the month. This will help you to prune any unreasonable spending. It is also equally important to start discussing money with your partner and help each other to figure out the spending, like weekly beauty treatments, night outs, and dinner in restaurant, membership in country clubs, which can be cut down or eradicated.

Financial compatibility between you and your partner is extremely important and vital ingredient for a safe and healthy relation and future.

One more step that needs to be taken is to start contributing towards your saving account monthly. In the times of increasing needs, savings is taking a back seat resulting in a pitfall the moment you loose your job, face an accident or can’t work for health issues, as you have nothing in your savings to supplement your income.

Financial mess can also occur by unrealistic approach towards money. Often individual help their parents / sibling even though they are themselves struggling to make ends meet. Please understand that, at times, it is important to say NO. Don’t base your decisions on your emotions as you are not only hurting yourselves financially but also hurting your loved ones, as you make them financial handicapped.

Other steps that can prove useful are to club or get insurance for life, illness, house, mortgage and other important things, club memberships for the complete family for discounts, use public transport and other things to cut down your spending.

It is vital to understand that your loans / credit cards are services provided to you, which turn into debts because of bad management and mixing money matters with emotions.
 
Contact us on 0800 135 7143, for a free assessment of your income and expenditure. Our Advisors will be more than happy to provide a free offer of payment and an array of suggestions best suited for your profile.

Your present financial situation has a lot to do with your past habits, new research has suggested.

According to a survey carried out with our clients, we discovered that individuals who face emotional upheavals, financial blows, loss in business, health problems and addiction (drug / alcohol) are the ones who end up being in debt problems.

It is been analyzed that most of the clients were less concerned about their finances at one time in their past, as they were facing one of the situation listed above and realized later on that they are spending far too much then are earning.

It is important that you keep a close eye on your finance and ensure that your spending is not useless. The best way to do this is to first list your incomings and outgoing, and cut the expenditure where you think you are over spending.

It is also advisable that you save some emergency funds to make sure you are still able to pay your bills for few months even though loose your job, meet an accident or face health related problems that might effect your income. It is equally important, to keep check on your spending pattern and ensure that you have no addiction to any sort of drug or alcohol that might make you financial incoherent.

It is also important to make sure that you decide your budget based on what you earn and not by what you were or might earn. This is one of the big mistakes one can do as often people decide their spending on how much they were earning, even though they have lost their job and are now earning how of what they used to be earning or what they might earn, even though they are not certain of the incoming funds.

The idea is to be realistic about your finance and spend your money where you can get the best value for your money.

Also, reassess your car/homeowner insurance. If you have policies with different companies, call around and see what sort of deal you can get by having multiple policies with the same insurer. Also, estimate how much you really need to insure your home for. Many home prices have tumbled in recent years. Buy sufficient coverage needed to cover the true value of your home, not what it was worth when you originally took out the policy.

We understand that if you are already under debt stress, you might find it hard to make ends meet and hence we can help you to manage your finance and pay your creditors.

Contact us on 0800 135 7143, for a free assessment of your income and expenditure. Our Advisors will be more than happy to provide a free offer of payment and an array of suggestions best suited for your profile.

Debts seem to be the most profound problem for any individual in the UK. The vicious circle of credit and creditors is nightmare for most borrowers. According to recent market surveys, there is an abnormal increase in the legal proceeding & enforcement actions taken against the borrowers.  

 Also, with an increase in the unemployment and after effects of credit crunch, most debtors are bound to miss payments and start struggling with their present expenditure. If this is your situation, we can help. 

 Don't let debts ruin you, instead ruin the debts. Seems unbelievable? Go for debt management program offered by Repayment Management Services and put an end to all debts fears. Comprised of various methods, debt management program paves borrowers' way towards a debt free future. 

 With the sole aim to get the clients debt free, we help the individuals with unmanageable Credit Card, Store Card, Unsecured Loans and Bank Overdraft & Mail Order Catalog. Debt Management Plan offered by RMS helps you reduce your payments towards your unsecured loans considerably, allowing you to get your finance back on track. 

 RMS also approaches your creditors to reduce or freeze any interest or charges applied on your account, resulting in the debt to be paid at a quicker pace. We request your creditors to accept a payment agreement based on pro rata basis and requesting them to stop any legal proceeding or enforcement actions on the account. Mostly, after RMS is working on your behalf, your creditors would contact us directly, resulting less paper works to you. 

So, if you are currently getting lots of calls, letters, interest and charges from your creditors. RMS is the place that will provide you the very service you need.  

Contact us on 0800 135 7143, for a free assessment of your income and expenditure. Our Advisors will be more than happy to provide a free offer of payment and an array of suggestions best suited for your profile.  

Repayment Management services work to provide the best, most precise, experienced and clear advice on all debt matters, to do this we need to and aim to identify the clientsí needs and give them best practice advice through fully qualified trained Repayment advisors.