Alone in Personal Debt, Partner NOT Aware?

Are you living alone and suffering with the stress and worry of personal debt issues or problems.

You may be living with a partner or married and unable to share your concerns due to worry of affecting your relationship. This is very common be you alone or just unable to talk to anyone. Most people that call our debt helpline understand that they are not alone once they speak with a trained advisor.

Credit companies are trying to obtain as much of your disposable income (the money you have spare each month after bills and living costs) as possible, there are rules for lenders on how much they can lend people and the industry term for this is "Responsible Lending".

It basically means that if a lender thinks, that after looking through and investigating your income and expenditure (a financial statement on your self) that you are unable to afford repayments on a new proposed loan, they MUST NOT lend you the money. If you encountered a further change in circumstance for the worse, you may not be able to repay the lender the money you borrowed. Not lending the money in this instance where an individual can not afford to repay is now known as "Responsible Lending" on behalf of the lender which can only be seen as most commendable.

A great number of consumers get frustrated and tempered with loan providers and their loan brokers when unable to get the acceptance for the credit they so need or want. This is not the lenders fault or problem, consumers must take responsibility also for their past and make more responsible decisions by thinking more long term regarding their money and financial status by obtaining debt advice UK.

The finance industry is like most "a double edged sword" on the one side you have the compliant companies who respect people and their personal situations, on the other side are the more unscrupulous companies that prey on the vulnerable consumer.

At Lewis Alexander we offer financial advice regarding all personal debt issues, do not suffer alone and do not be afraid of talking with us if you fear your partner and their reaction.

Did you know, more people are more likely to speak and be open with their partner about an extra marital affair or relationship they have had than the problems they have gotten into regarding personal debt and finances?

Call today to clear debt using 0800 018 6868, your call is FREE from a land line and dealt with in the strictest confidence!

Credit Cards & Debt Help - IVA or Debt Management?

Credit cards are the biggest problem in most peoples financial arrears. Most of us try and keep up with the plastic before paying anything else, such as rent and mortgages! Yes, people are actually paying for their mortgages and their rent using their credit facilities. When we try and explain to vulnerable consumers that they must prioritise their debts by paying the most important first, they seem shocked as though the credit card companies will be upset.

An upset credit card company is much better than an eviction order from your landlord or your mortgage lender advising you that they are to repossess your home or ask you to vacate your rented dwellings.

We can't stress enough the importance of making the repayments on loans or other debts secured against your home.

Credit card companies only want you to pay the minimum on your credit card repayments, if you pay more than the minimum required you will be clear your debt and then you won't owe them any money, this is not good for your credit card company, however, it is the right direction for you!

The interest on credit cards is designed to increase not reduce, these companies are waiting for you to suffer a change in personal circumstances such as a death in the family, loss of job or less hours at work, split from partner or divorce. These changes in circumstance are not all ways negative unpleasant ones. A new baby or a wedding can easily set us back for years. The credit industry has a much clearer crystal ball than the vulnerable consumer. They can see your changes before you know you are due them. it is just the way credit companies work but please do not let them work you out of YOUR home!

For further information on how to clear credit card debt and other personal debt help, please call free using 0800 018 6868 or contact us online....

IVA take up rate 12% of Debt Consolidation enquiries!

The take up rate for the personal IVA at Lewis Alexander is 12%.

The company specialises in the Personal Debt Management sector and has done so successfully since February 2003. The information released is based upon enquiries that are generated from the initial enquiry to a live conversion into a Lewis Alexander client. The IVA work is outsourced to preselected Insolvency Practitioners.

The remaining 88% splits down into 63% opting for a Lewis Alexander Debt Management Plan and the final remainder choose options such as bankruptcy and loan options where available.

The figure is surprising as the general market place of personal debt advice and help services seems to be direct selling the IVA! Lewis Alexander are proud to offer the client a full explanation where necessary so as to enable the consumer to make an informed decision. This could be adopted as best practice amongst all companies and implemented on a compliance basis by a regulator.

The industry could then adopt an accepted standard conversion rate for a compliant fee charging advisory service.

The main problem Lewis Alexander has encountered with the funding and floatation's of IVA PLC companies, dating back to 2004, is that the individual choosing to enter into an IVA over a Debt Management Plan or Voluntary Petition for Bankruptcy is no different in there make up, they are still only human! The point being is that the individual is open to exactly the same changes in circumstances over the next 5 years that has created the need for action in the first place. The Debt Management Plan may not be as rewarding in fees as an IVA to the operating company but is sometimes a preferred approach for advice when the advisor has the experience the client does not!

Yes, companies are in business to make money but at this end of the financial sector there should be an element of caution as the detriment to the consumer can be catastrophic if the consumers IVA fails due to their lack of continuity of payment etc,,

The Debt Management Plan is not a legally binding agreement and is informal between client and creditor. Therefore, the "City of London" or financial institutions raising funds for floatation's have avoided Debt Management Companies in the main. This is why some of the IVA companies or IVA factories have scurried around making acquisitions that seem still to be proven on a profitability basis. These companies surely could not have floated as Debt Management operations but did create great projections and share rushes, then proceeded to buy Debt Management companies in a bid to keep their bottom line positive and reduce the cost per client acquisitions.

Lewis Alexander has previously rejected take over bids from a certain IVA company due to this mind set as described above. The take over would have affected the success enjoyed by both client and employee when clearing debts, coupled with the excellent balance of impeccable client retention rates with outstanding abilities to generate new enquiries that convert into acquisitions.

The cost to an IVA company to generate an acquisition had reached £1000 over the last 2 years and in some cases more. These companies business models are costly and when compared to the Lewis Alexander CPA of an IVA at £150, it seems outrageous. Is the sector finished as a direct sell arena and where will the money makers move next?

We can confirm that the only PLC involvement at Lewis Alexander is Profitability, Liquidity & Capital.

Debt Management Company offers Prepaid Mastercard

If you have no bank account, no credit cards or currently on a debt management plan and you struggle to pay for goods or services online, or over the telephone, you need a Prepaid Mastercard.



You can apply online and you are GUARANTEED ACCEPTANCE. Have a read and make your own choice, we think everyone should have one in their wallet!

IVA or Debt Management? - Get a FREE Credit Check from Experian before you decide

Before you decide on either a Debt Management Plan or an IVA / Individual Voluntary Arrangement, make sure you have checked your current credit status!

This is important as it will show you what is on record about your financial history. You do not want to carry on as though this information does not exist and once you read it, things on the report seem less frightening than you thought. If anything, it is a good starting point for any debt advisor to help you from, as it is easily read by people who are reading them daily.

You can get a free credit report online from Experian in the UK.