This can be arranged where a person or a business is not able to keep up payments under the initial terms of a finance agreement or in most cases several agreements.

Basically a prescribed formula is used to calculate the amount of free income that is available for creditors, this is divided between them on a pro rata basis and the lender are asked to freeze the interest.

The beniefits to the potential client are:

• It stops the creditors calling you
• It can save money on a monthly basis
• It saves money by stopping the debts increasing
• It stops creditors taking a charge over any property that you own or other court action

This is offered in conjunction with Brilliant Solutions and is not regulated by the FSA. For an initial free discussion call 01454 326892