Solution Remortgages - the pros and cons of an informal debt arrangement.

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Hotspot Marketing Ltd work together with a number of mortgage brokers including Solution Mortgages Ltd, who are authorised and regulated by the FSA. Although Hotspot Marketing Ltd does not charge you a fee, Solution Mortgages Ltd may charge a fee upon completion. You will be advised of this fee, together with a personalised illustration of their recommendations, once they have reviewed your enquiry and spoken to you. By submitting the above information you are confirming that you wish to be contacted by an advisor from Solution Mortgages Ltd.
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The Pros and Cons of an IDA

An Informal Debt Arrangement is a long term financial commitment helping you to control your cash flow with one easy payment to us, and we will deal with your creditors. We believe that our clients should be well informed and able to make the best decision about what is best for you.

Please speak to one of our expert advisors on 0800 520 0315 who will be able to give you specialist advice free of charge, or fill in the Quick Enquiry Form and we will call you back.

	Is an IDA right for me?
	Debt Management
	The Pros and Cons of an IDA
	Alternatives to Informal Debt Arrangements
	Is an IDA better than an IVA?

Advantages of an Informal Debt Arrangement:

One reduced affordable monthly payment, no matter how many creditors you have.
It is an informal arrangement meaning that you can avoid legal insolvency procedures.
An agreement with your creditors means that they should suspend any action, and are often willing to freeze any additional interest.
‘Debt Free Guarantee’ at the end of the programme.
You won’t have to have any meetings with your creditors.
The knowledge that you are dealing with your debt problems, means less stress and worry for you.

Disadvantages of Debt Management:

Creditors are under no obligation to accept your informal offer, whereas with an IVA if over 75% of the value agrees then the others are bound by law.
As it is not a legal agreement, creditors can change their mind at any time.
Although your repayments will be more affordable to you, it will take you a longer period to pay them back.
Your credit rating may be affected.

If you want to hear more about how an Informal Debt Arrangement can work for you, or whether you would be suitable for an Informal Debt Arrangement, simply call our expert advisors on 0800 520 0315 quote ref 1533, or fill in the Mortgage Wizard to see what other solutions are available to you.

'Solution Remortgages' and 'solutionremortgages.co.uk' are trading styles of Hotspot Marketing Ltd. All information submitted to Hotspot Marketing Ltd is handled and maintained in full compliance of the Data Protection Act 1998. Hotspot Marketing Ltd works closely with a number of Lenders, Brokers (including; Solution Mortgages Ltd), Debt Management Companies, IVA Insolvency Practitioners and Debt Advice Centres. Privacy Policy.

Quote ref 1533.