Clear Your Debt
Clear your debt with help from Chiltern. Please don’t be misled by this phrase, any company claiming that they can write off all of your debt without speaking to you are likely to be advertising falsely. In fact the Government issued a warning in February 2009 against misleading customers. As dedicated members of DEMSA, Chiltern will not claim to be able to clear your debt, however, we can help you to do so yourself. Debt management, IVAs and Trust Deeds are the most well known debt solutions, when done correctly, they are the most effective ways to get debt free. These methods do, however, take time to do so.
‘Clear your debt’ – Government Warning
Phrases such as ‘clear your debt’, ‘positive outcome is guaranteed’ and ’100% success rate’ by debt management firms have been judged as misleading by Justice Minister Bridget Prentice. She warned that companies who used this type of advertising would be dealt with by the OFT. Unfortunately, there are companies around who will continue to use misleading advertising, if you are shopping around for help, please make use of the DEMSA website. The site has a comprehensive list of all debt management companies who have attained approval by them and therefore the OFT.
Other advertising which has been deemed to breach consumer protection regulations are claims such as being able to write off 80% of credit because they are ‘unenforceable’.
Ray Watson, Office of Fair Trading director of consumer credit:
“The OFT will not hesitate to take enforcement action against licensed claims management businesses who engage in unfair business practices by deliberately misleading vulnerable consumers about the services they offer.
Businesses should also be aware that if they offer debt counselling or debt adjusting services without holding an appropriate licence, they will be committing a criminal offence and risk prosecution, and that any agreements they enter into with consumers whilst unlicensed may be unenforceable.”
How you can clear your debt – The Reality
Clearing your debt is not something that a company can do for you, what we do is help you to manage and reduce your debt so that you can afford to pay it off over a set term.
Important Information About Our Service & Fees
Whilst we strive in all cases to negotiate the best deal with your creditors, we cannot guarantee a reduction in interest or charges. Also as one of the largest providers of debt management solutions in the UK, we are able to provide initial advice over the phone without charge, however, if a debt solution is taken out, please be aware that fees will be charged. We aim to keep these fees as low as possible and believe that we are very competitively priced. View more detailed information on our fees including examples for each product here.
Further Additional Information
The insolvency service has produced a guide for people who are struggling with debt, which outlines each of the available solutions.
If an IVA is not maintained it could lead to bankruptcy.
