Debt Advice for the Armed Forces personnel all over the world is a service that has been offered by E-insolvency for many years. E-insolvency has been a specialist Armed Forces Support team proding debt advice for armed forces community. The team can be contacted on 0800 074 6918We offer a confidential and impartial telephone listening and advice service offered by specially trained civilian advisers who will discuss any money related issue which may causing concern or personal distress. Operators will endeavour to identify possible sources of support or resolution, and if needed direct action will be taken by the the debt advice for the armed services support team. Callers may remain anonymous and no names are taken. IF YOU ARE IN NEED OF DEBT ADVICE AND ARE IN THE ARMED FORCES PLEASE CALL 0800 074 6918Armed forces & emergency services debt and money advice is available 24 hours a day to offer personal debt management help & IVA advice services to clear debts. The armed forces and emergency services debt advice team offer an amazing range of financial advice for armed forces workers. Although it’s tempting to associate the armed forces with soldiers, marines and pilots, there is a huge support staff for the Army, Royal Navy and Royal Air Force that can advise on debt issues. We provide support for the serving men and women in today’s Armed Forces and for those who have served - even if it was only for a single day. We also care for the needs of their families and dependants. Last year alone, our professional staff and trained volunteers gave assistance to more than 50,000 people. We helped to make a real difference to many lives. A Debt Management Plan (DMP) is a method used in various countries for paying personal unsecured debts (which typically are out of control in the sense that payments are late and those due are taking too large a portion of income, or even exceeding it) that involves noting all the debts, assessing income and budget, and re-negotiating interest rates and payments with the lenders, based upon evidence that the result will be a higher likelihood of collection by the lenders due to the debtors more realistic monthly repayment. An IVA also offers many attractions. He avoids the stigma of bankruptcy and the severe penalties. For people whose careers could be put at risk by bankruptcy, such as lawyers and financial practitioners, the IVA is particularly attractive. If you have enough money left over after paying your priority creditors and essential expenses, you may be able to arrange an Individual Voluntary Arrangement (IVA). An IVA is a legal agreement with creditors (usually non-priority creditors) to repay your debts. This could either be in part or in full. The arrangement is negotiated, written up and checked regularly by an independent solicitor or accountant called an Insolvency Practitioner. Not all the creditors have to agree to an IVA as long as the creditors to whom you owe 75% of your debt agree. Adverse credit means you're not a candidate for a prime borrowing rate. Depending on your credit black marks and the individual policy of the lender you could be treated as near prime, but if your credit unworthiness is severe you're very likely to be designated sub-prime. The first step is to seek independent financial advice from a mortgage broker. Interest rates (usually starting a couple of percentage points above the lender's standard variable rate) can vary significantly in the sub-prime market depending on the severity of the adverse credit rating. There's also the possibility of a higher-lending charge, often charged on loans of more than 90% of a property's value. And a reasonably friendly interest rate can come attached to a hefty repayment charge (eg 6%) on redemption. This is something to keep in mind if you plan to tough out the increased cost of a sub-prime mortgage for two years, say, using it through assiduous repayment as a chance to repair your credit rating. If you would like to know how to clear debt and be debt free please call 0800 074 6918 or complete the short enquiry form on the left hand side of the . Please note that if you have UK debts and want to clear your debt please contact us anytime
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