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Money Matcher is a Limited Company registered in England & Wales at Metropolitan House, 20 Brindley Road, Manchester, M16 9HQ|
Company Registration Number 06905872|FCA Registration Number 0628533|Data Protection Number Z2508666 |
https://beta.companieshouse.gov.uk/company/06905872
https://www.claimsregulation.gov.uk/...y=-1&status=-1
Company Registration Number 06905872|FCA Registration Number 0628533|Data Protection Number Z2508666 |
https://beta.companieshouse.gov.uk/company/06905872
https://www.claimsregulation.gov.uk/...y=-1&status=-1
Originally posted by fees
Information and Fees
Debt Management Plans cover unsecured debts only.
While our advice is free, fees are payable if a debt solution is provided. A key benefit of a Debt Management Plan is the ability to only repay what you can afford each month. A consequence of this is that it will take longer to repay your debts, and creditors do not have to agree to freeze interest and charges.
Credit Rating
Entering into a DMP means contractual payments will be missed and your debt and repayment term could increase. Your credit rating will be impaired and it may be harder to obtain credit in the medium to long term as records are retained by credit reference agencies for six years.
Cooling Off Period
When you have activated your plan, either by signing the Client Information Form or by paying the Initial Fee you will be entitled to a 7 working day cooling off period in which you can contact us and we will refund any monies due.
Debt Management Plan Fees
An Initial Fee is the set up cost of your plan and is equal to two months disposable income. This fee is split equally over the first 6 months of your plan ensuring your Creditors are paid from your first payment. A Monthly Fee payable for our services will be charged thereafter, equal to 17.625% of your monthly agreed disposable income, subject to a minimum of £35 and a maximum of £100.
Initial fee
The Initial fee covers the work involved in setting up your plan, including:
Reviewing draft payment programme.
Preparing the financial statement.
Calculating reduced monthly payments.
Talking to your creditors and negotiating the terms of the management plan.
This fee doesn't go towards your debts.
Monthly fee
From the third month onwards, we charge a monthly management fee. This fee covers the month-to-month running of your plan - including:
Distributing payments to each of your creditors.
Handling correspondence from your creditors.
Any help or advice you need from our customer support team.
Putting together and sending your statements
Advice
It is important to note that while the initial advice is free, should you enter a plan, fees may be payable.
Debt Management Plans cover unsecured debts only.
While our advice is free, fees are payable if a debt solution is provided. A key benefit of a Debt Management Plan is the ability to only repay what you can afford each month. A consequence of this is that it will take longer to repay your debts, and creditors do not have to agree to freeze interest and charges.
Credit Rating
Entering into a DMP means contractual payments will be missed and your debt and repayment term could increase. Your credit rating will be impaired and it may be harder to obtain credit in the medium to long term as records are retained by credit reference agencies for six years.
Cooling Off Period
When you have activated your plan, either by signing the Client Information Form or by paying the Initial Fee you will be entitled to a 7 working day cooling off period in which you can contact us and we will refund any monies due.
Debt Management Plan Fees
An Initial Fee is the set up cost of your plan and is equal to two months disposable income. This fee is split equally over the first 6 months of your plan ensuring your Creditors are paid from your first payment. A Monthly Fee payable for our services will be charged thereafter, equal to 17.625% of your monthly agreed disposable income, subject to a minimum of £35 and a maximum of £100.
Initial fee
The Initial fee covers the work involved in setting up your plan, including:
Reviewing draft payment programme.
Preparing the financial statement.
Calculating reduced monthly payments.
Talking to your creditors and negotiating the terms of the management plan.
This fee doesn't go towards your debts.
Monthly fee
From the third month onwards, we charge a monthly management fee. This fee covers the month-to-month running of your plan - including:
Distributing payments to each of your creditors.
Handling correspondence from your creditors.
Any help or advice you need from our customer support team.
Putting together and sending your statements
Advice
It is important to note that while the initial advice is free, should you enter a plan, fees may be payable.
Originally posted by terms and conditions
Terms and Conditions
Debt Management
Introduction
We want your decision to use Money Matcher's financial management services to be the best decision you ever take towards regaining control of your financial situation. To that end we aim to be completely transparent in all our dealings with you, so these Terms of Business explain our obligations to you and yours to us. They will be at the heart of our relationship, and our contract with you, so please take time to read them carefully.
Important note
These Terms of Business apply to all Money Matcher clients. They may be added to or changed by particular terms for some of our other services. These other terms will be brought to your notice at the appropriate time.
Definition of terms
"Agreement" means the agreement between You and Us made mainly on these Terms of Business.
"Cleared Funds" means (i) any cash, postal orders or banker's drafts made payable to Us which We have received from You; (ii) any monies which We have received into our bank account or Client Account from You by electronic transfer (such as by standing order, Direct Debit or bank giro credit transfer) and which have not been returned unpaid within four working days; and/or (iii) any cheques which We have received from You which have not been returned unpaid within seven working days.
"Client Account" means the account where any monies held on behalf of our clients are kept and which is not used for the purpose of our own business.
"Client Information Form" means the form enclosed with these Terms of Business which We ask You to sign to give Us authority to contact your Creditors and to act on your behalf.
"Creditors" means all of the people or businesses You have told Us You owe money to and who are included in your Financial Management Programme.
"Fees" means the Initial Fee and the Monthly Fee. An estimate of the total Fees payable by You to Us under this Agreement is set out in your draft Client Information Form issued by Us in accordance with section 2.1 below.
"Financial Management Programme" means the programme of Monthly Payments by which You repay your Creditors through Us and pay for our Services, prepared by Us based on the information provided by You, as revised from time to time.
"Initial Fee" means the payment You make to Us in order for us to set up your monthly payment plan with your Creditors. This is calculated from the financial information You provided to us in the application process (please refer to the Client Information Form sent with these Terms and Conditions for further details). It will be used to cover our initial costs in collecting and reviewing your documentation, for setting up your monthly payment plan and for our professional services in liaising with your creditors. The Initial Fee is retained by us and will not be paid to your creditors. This is the equivalent to the first two months payment to the plan.
"Monthly Fee" means the monthly fee payable for our Services. This is an amount equal to 17.625% of your Monthly Payment, subject to a minimum of £35 and a maximum of £100. There is no Monthly Fee payable on your first Monthly Payment as You pay the Initial Fee.
"Monthly Payment" means the total amount which is paid every month by You to Us throughout the Financial Management Programme. This is made up of the Monthly Repayment to be made to your Creditors, our Monthly Fee and any other payments as instructed or agreed with You.
"Monthly Repayment" means the part of the Monthly Payment to be paid by Us on your behalf to your Creditors.
"Services" means the services We agree to provide You with under this Agreement.
"Term" means the period running from the start of this Agreement as explained in section 1.2 until We stop providing You with Services. An estimate of how long the Term will last is set out in your draft Financial Management Programme issued by Us in accordance with section 2.1 below.
"Terms of Business" means these terms and conditions of business.
"Us" and "We" means Money Matcher Limited, whose registered address is at Metropolitan House, 20 Brindley Road, Manchester, M16 9HQ, Company Registration Number 06905872 or anyone to whom We transfer our obligations and rights under this Agreement.
"You" means you, the person(s) entering into this Agreement named in the Financial Management Programme.
1. Appointment and Term
1.1 You appoint Us and We agree to act on your behalf, as debt counsellors and debt adjusters and to provide the Services.
1.2 This Agreement will start when You confirm your acceptance of these Terms of Business either by telephone or by returning the completed Client Information Form or if earlier, on the day when We receive the Initial Fee from You in Cleared Funds.
1.3 This Agreement will continue for the Term, unless ended earlier by You as set out in sections 1.4 and 7 or by Us as set out in section 8.
1.4 You have a right to cancel our agreement at any time during the first 14 working days of the Term. You can do this by writing to Us at the above address. We will then refund to You any Fees already paid to Us that are Cleared Funds. Any monies already distributed to your Creditors will not be refunded.
2. What We will do
2.1 Based upon information provided by You to Us, We will review your income, outgoings and living expenses and prepare and issue to You a draft Client Information Form in respect of those types of debt which do not fall within the exclusions set out in section 5.2 below. This will indicate a Monthly Payment which We believe You can afford. It will also include an estimate of the total Fees payable by You to Us for the Services which We provide under this Agreement and an estimate of how long it will take You to repay your Creditors.
2.2 Once the Agreement starts We will notify your Creditors of our involvement within 10 days and will attempt to agree with them revised payment terms on your behalf. We will in particular attempt to persuade your Creditors, where appropriate, to accept reduced monthly repayments from You, not to charge interest and to either suspend or withdraw any recovery, or similar, proceedings, which they may already have taken against You or may have threatened to bring against You. We will endeavour to provide as much assistance to You as We can based on our expertise and experience of dealing with creditors.
2.3 Following receipt of the Initial Fee in Cleared Funds We will prepare and issue a Financial Management Programme, normally within 28 days. This may vary from the earlier draft depending on the accuracy of the information You originally provided to Us and our discussions with your Creditors.
2.4 If your circumstances change and You are unable to meet the payments set out in the Financial Management Programme, We shall attempt to re-negotiate with your Creditors and arrange with You a revised Financial Management Programme. We will in any event periodically review your situation, normally every twelve months or earlier if your Creditors insist, and We will prepare and issue a revised Financial Management Programme with You and your Creditors if this is appropriate.
2.5 We shall provide to You a periodic statement listing your Creditors at least every 6 months, the status of any negotiations with them, the Monthly Repayments made to them and the Fees which We have charged You.
2.6 We shall keep You informed of all material communications between your Creditors and Us, and We shall deal with all communications from your Creditors to Us (or to You and provided by You to Us) appropriately and promptly.
3. What You will pay
3.1 You will pay Us the Initial Fee, the Monthly Fee and the Monthly Repayments and any other fees agreed in writing between You and Us for additional services.
4. How We handle your money
4.1 All payments that We receive from You in Cleared Funds will be paid directly into our Client Account. The only payments which We will make out of our Client Account are, in order of priority:
(a) payment of our Fees including any arrears;
(b) payment of the Monthly Repayments to your Creditors in accordance with the Financial Management Programme; and
(c) Any other payments as instructed or agreed with You.
4.2 We will distribute the Monthly Repayments amongst your Creditors in accordance with the Financial Management Programme normally within five working days of receipt of the Monthly Payment from You in Cleared Funds. If there is a delay in any payment which is not beyond our control, We shall take the appropriate action to put You in the position You would have been in if the payment had been made within five working days in Cleared Funds and shall make good any additional interest which has accrued and any default charges that have been applied to the account as a result of the delay.
5. What We won't do
5.1 We cannot lend You money or offer You any credit facilities.
5.2 We will not usually provide the Services in relation to secured credit (such as certain hire purchase arrangements, secured loans and mortgages), rent (including rent arrears), utility bill payments (including arrears), council tax payments (including arrears) and other similar debts.
5.3 We are not solicitors and cannot give You any legal advice.
5.4 We will not arrange for anybody to attend any court hearing on your behalf unless We expressly agree with You to do so, and if so We will charge an additional fee for such service as agreed with You in advance of the court hearing.
5.5 Whilst We will attempt to agree revised payment terms with your Creditors in accordance with section 2, We cannot stop your Creditors from continuing to charge You interest and other charges, or from continuing any current, or bringing any future, recovery proceedings against You if they want to do this.
5.6 We will not ask you to make any payments to us until you have signed and returned your Client Information Form.
6. What You will do
6.1 You must provide Us with full, accurate and truthful details on the form We provide to You of your net income, outgoings, Creditors and dependants and You must also provide Us with details of any outstanding judgments against You or any actual or threatened court proceedings. You must, where possible, send to Us copies or originals of documents to confirm these details.
6.2 You must make the agreed Monthly Payments to Us in accordance with the Financial Management Programme.
6.3 You must allow Us to negotiate on your behalf with your Creditors.
6.4 You must send Us originals or copies of all correspondence You receive from Your Creditors so that We can deal with them on your behalf. Your correspondence will be scanned and stored by Us as an electronic image and the original paperwork destroyed. If originals are provided We can only return them to You if You request this prior to posting.
6.5 During the Term You must not make any payments directly to your Creditors unless You have notified Us in advance that You propose to do so and We have agreed that such payment can be made. We will not withhold our agreement for You to do so unless We have good reason to.
6.6 You must tell Us if your circumstances change so that You are or may become unable to maintain the level of Monthly Payments or if there has been an improvement in your circumstances so that You are able to increase your level of Monthly Payments. We will require two weeks’ notice from You to make any amendments to any Direct Debit arrangements You make for payment of the Monthly Payments to Us.
6.7 During the Term You must incur no further debts, whether on credit or otherwise, other than those relating to your normal living expenses.
7. How You may end this Agreement
7.1 You have the right to cancel this Agreement under section 1.4.
7.2 You may also cancel this Agreement at any time if the total Fees payable under the Financial Management Programme differ significantly from the Fees estimated in the draft Financial Management Programme issued by Us in accordance with section 2.1 above submitted to You. In the event of cancellation under this section 7.2, We reserve the right to retain the Initial Fee.
7.3 In addition to your right to cancel under sections 7.1 and 7.2, You may also end this Agreement at any time by giving Us two weeks’ prior written notice which You may serve at any time whether or not You believe We may have been in breach of our obligations under this Agreement. In the event of cancellation under this section 7.3, We reserve the right to retain the Initial Fee.
8. How We may end this Agreement
8.1 We may end this Agreement at any time by giving You two weeks’ prior written notice if any of the following happens:
(a) You fail to make two successive Monthly Payments; or
(b) You are otherwise in serious breach of this Agreement or have persistently committed a series of minor breaches (even if any one individual breach would not necessarily be regarded as a serious breach on its own); or
(c) You become bankrupt, file a bankruptcy petition, make an arrangement or composition with your Creditors generally, or make an application to a court of competent jurisdiction for protection from your Creditors generally.
9. Effect of ending this Agreement
9.1 When this Agreement ends:
(a) our duties and obligations under this Agreement will come to an end;
(b) your liability to your Creditors will continue to the extent
that any amounts You owe to your Creditors remain outstanding over and above the repayments made to them under the Financial Management Programme; and
(c) You may within 5 days of the end of this Agreement request Us to send You copies of all paperwork received from You or your Creditors that has been retained by Us as a scanned image.
10. Personal information
10.1 We agree to keep confidential all information received from or about You. We will not pass this information to anyone else without your permission, except in line with our data protection statement contained in section 11 or to such of your Creditors as is necessary in order for Us to negotiate repayments with such Creditors, including Creditors who may process your data outside the European Economic Area (EEA).
10.2 If You have opted to receive information from Us by SMS text message (or email, or other electronic means), You are responsible for the security of your mobile telephone (or personal computer) - and must take all reasonable precautions to prevent anyone else from accessing your information, including using all security features available on your mobile telephone (or personal computer) - and for informing Us immediately if your mobile telephone (or personal computer) is lost, your number (or email address) changes or if You suspect someone may have access to the information We send You.
11. Data protection statement
11.1 Please read this statement carefully as it explains what personal information We collect about You and how We use this information.
11.2 We collect personal information (which may include sensitive personal data) about You both directly from You when You apply for our Services and from your Creditors as authorised by your Client Information Form. We may also collect further information as a result of managing your Financial Management Programme.
11.3 We will use your personal information to provide our Services to You, and in particular to:
(a) prepare and issue to You your Financial Management Programme;
(b) negotiate with your Creditors on your behalf; and
(c) keep You informed about your Financial Management Programme and our Services.
11.4 Subject to section 11.5 We may also use your personal information to contact You to provide You details of other products and services which We think may be of interest to You, including those offered by selected third parties. We may share personal information with these selected third parties and they may contact You directly to provide You with details of such products and services.
11.5 You may let Us know if You do not want Us to use or disclose your personal information (and/or sensitive personal data) as set out in section 11.4 above or if You wish to amend the way We communicate with You.
11.6 Other than as set out above We will only disclose your personal information to the extent required by law, court order or as requested by other government or law enforcement authority, or to any company or other entity to whom We either transfer or subcontract any or all of our obligations to You under this Agreement.
11.7 You may contact Us by writing at any time to the Data Protection Officer at our address given above for further information, or if You want to request a copy of the personal information which We hold about You or to ask Us to amend any inaccurate information held by Us. If You request a copy of the personal information which We hold about You We will charge You a fee of £10.
11.8 Please note that We may record and monitor your calls to Us to help Us to improve our service.
12. Other terms
12.1 Your Initial Fee for your Financial Management Programme does not get paid to your Creditors. Your Initial Fee is taken from your monthly payments and split equally over a 6 month period. This will place your accounts into arrears or further into arrears.
12.2 We will commence payments to your Creditors from your first payment to us providing your Creditors have provided us with sufficient information to do so.
12.3 By entering a Financial Management Programme you may receive Default Notices from your Creditors. These will remain on your Credit file for a 6 year period. An account may be recorded as being in default if only token payments are made. This could affect your credit rating.
12.4 Any adverse information on your credit file may affect your career. It is important before entering into any plan of this type you check your employment contract.
12.5 Should we feel that an IVA (Individual Voluntary Arrangement) is the best advice for your circumstances or you choose this option we will refer you to our external Insolvency Practitioners and we may receive a fee for this.
12.6 All Fees are exclusive of any applicable value added tax (VAT) or other sales tax. Please note that although the provision of our Services is currently VAT exempt, this position could change in the future. If it does change We will notify You and amend your Financial Management Programme accordingly.
12.7 We may transfer our rights and obligations under this Agreement by giving You written notice of such transfer.
12.8 All notices sent under this Agreement shall be valid if sent by first or second-class post to the address set out in the Agreement or to a valid email address supplied to Us by You.
12.9 This Agreement sets out the entire agreement and understanding between You and Us and supersedes all prior agreements, understandings or arrangements (whether oral or written) relating to the provision of the Services.
12.10 You acknowledge that You have entered into this Agreement in reliance only on the representations, warranties and promises specifically contained or incorporated in this Agreement and, except as expressly set out in this Agreement, We shall have no liability in respect of any other representation, warranty or promise made prior to the start of this Agreement unless it was made fraudulently.
12.11 We shall not be deemed in breach of this Agreement or otherwise liable to You if We are prevented or hindered from performing our obligations under this Agreement by reason of any event beyond our reasonable control.
12.12 If any part of these Terms of Business is found to be invalid or unenforceable, that part shall be deemed severed from our Agreement which will otherwise remain in full force and effect.
12.13 Any failure on our part to insist on strict performance of any part of these terms and conditions will not be deemed a waiver of our rights and remedies in respect of any future breach.
12.14 We may vary these Terms of Business from time to time and will write to give You at least 30 days’ prior notice of any changes.
12.15. This Agreement is governed by English law and the Courts of England and Wales shall have exclusive jurisdiction for all matters arising under it.
COMPLAINTS PROCEDURE
This notice sets out details of the complaints procedure which we operate to try to resolve complaints which you, the client, may have with regard to the services that we provide to you. This complaints procedure is aimed at resolving complaints quickly and satisfactorily and further improving the quality of our service.
What our complaints procedure covers
Our complaints procedure covers complaints which you may wish to make with regard to the services which we have provided to you, in particular, the manner in which we have dealt with your Creditors and the information we have provided to you about our dealings on your behalf.
How to make a complaint
If you are unhappy with the service we have provided to you, you should in the first instance discuss the situation with your Initial Adviser or Case Adviser. Should you be dissatisfied with the explanation he or she has provided to you then your complaint will be referred to the company's Compliance Department. Written complaints should be addressed to the Compliance Department.
How we will action your complaint
The Compliance Department will consider the contents of your complaint. We may need to contact you for further information in order to better understand your position. We will conduct a full investigation into the points raised and discuss the details of your complaint with your Initial Adviser and/or Case Adviser as appropriate. Once all information has been considered you will be contacted further to confirm whether the company accepts either completely or to some degree your complaint. Where applicable, you will be advised of what steps the company will take to put right the complaint and ensure that the same problem does not reoccur. It is the company's objective to resolve a complaint satisfactorily within 10 working days although where more detailed investigation is required the process may take up to 8 weeks. You will be kept informed of the time scale that will be required for us to investigate your complaint.
Financial Ombudsman Service
If you are not satisfied with our final response, you may be eligible to refer the matter to the Financial Ombudsman Service, details of which will be provided at that time.
Your Rights
We hope that you will accept the decision of our Compliance Department. If this should not be the case, you remain free at all times to seek an independent form of advice.
Debt Management
Introduction
We want your decision to use Money Matcher's financial management services to be the best decision you ever take towards regaining control of your financial situation. To that end we aim to be completely transparent in all our dealings with you, so these Terms of Business explain our obligations to you and yours to us. They will be at the heart of our relationship, and our contract with you, so please take time to read them carefully.
Important note
These Terms of Business apply to all Money Matcher clients. They may be added to or changed by particular terms for some of our other services. These other terms will be brought to your notice at the appropriate time.
Definition of terms
"Agreement" means the agreement between You and Us made mainly on these Terms of Business.
"Cleared Funds" means (i) any cash, postal orders or banker's drafts made payable to Us which We have received from You; (ii) any monies which We have received into our bank account or Client Account from You by electronic transfer (such as by standing order, Direct Debit or bank giro credit transfer) and which have not been returned unpaid within four working days; and/or (iii) any cheques which We have received from You which have not been returned unpaid within seven working days.
"Client Account" means the account where any monies held on behalf of our clients are kept and which is not used for the purpose of our own business.
"Client Information Form" means the form enclosed with these Terms of Business which We ask You to sign to give Us authority to contact your Creditors and to act on your behalf.
"Creditors" means all of the people or businesses You have told Us You owe money to and who are included in your Financial Management Programme.
"Fees" means the Initial Fee and the Monthly Fee. An estimate of the total Fees payable by You to Us under this Agreement is set out in your draft Client Information Form issued by Us in accordance with section 2.1 below.
"Financial Management Programme" means the programme of Monthly Payments by which You repay your Creditors through Us and pay for our Services, prepared by Us based on the information provided by You, as revised from time to time.
"Initial Fee" means the payment You make to Us in order for us to set up your monthly payment plan with your Creditors. This is calculated from the financial information You provided to us in the application process (please refer to the Client Information Form sent with these Terms and Conditions for further details). It will be used to cover our initial costs in collecting and reviewing your documentation, for setting up your monthly payment plan and for our professional services in liaising with your creditors. The Initial Fee is retained by us and will not be paid to your creditors. This is the equivalent to the first two months payment to the plan.
"Monthly Fee" means the monthly fee payable for our Services. This is an amount equal to 17.625% of your Monthly Payment, subject to a minimum of £35 and a maximum of £100. There is no Monthly Fee payable on your first Monthly Payment as You pay the Initial Fee.
"Monthly Payment" means the total amount which is paid every month by You to Us throughout the Financial Management Programme. This is made up of the Monthly Repayment to be made to your Creditors, our Monthly Fee and any other payments as instructed or agreed with You.
"Monthly Repayment" means the part of the Monthly Payment to be paid by Us on your behalf to your Creditors.
"Services" means the services We agree to provide You with under this Agreement.
"Term" means the period running from the start of this Agreement as explained in section 1.2 until We stop providing You with Services. An estimate of how long the Term will last is set out in your draft Financial Management Programme issued by Us in accordance with section 2.1 below.
"Terms of Business" means these terms and conditions of business.
"Us" and "We" means Money Matcher Limited, whose registered address is at Metropolitan House, 20 Brindley Road, Manchester, M16 9HQ, Company Registration Number 06905872 or anyone to whom We transfer our obligations and rights under this Agreement.
"You" means you, the person(s) entering into this Agreement named in the Financial Management Programme.
1. Appointment and Term
1.1 You appoint Us and We agree to act on your behalf, as debt counsellors and debt adjusters and to provide the Services.
1.2 This Agreement will start when You confirm your acceptance of these Terms of Business either by telephone or by returning the completed Client Information Form or if earlier, on the day when We receive the Initial Fee from You in Cleared Funds.
1.3 This Agreement will continue for the Term, unless ended earlier by You as set out in sections 1.4 and 7 or by Us as set out in section 8.
1.4 You have a right to cancel our agreement at any time during the first 14 working days of the Term. You can do this by writing to Us at the above address. We will then refund to You any Fees already paid to Us that are Cleared Funds. Any monies already distributed to your Creditors will not be refunded.
2. What We will do
2.1 Based upon information provided by You to Us, We will review your income, outgoings and living expenses and prepare and issue to You a draft Client Information Form in respect of those types of debt which do not fall within the exclusions set out in section 5.2 below. This will indicate a Monthly Payment which We believe You can afford. It will also include an estimate of the total Fees payable by You to Us for the Services which We provide under this Agreement and an estimate of how long it will take You to repay your Creditors.
2.2 Once the Agreement starts We will notify your Creditors of our involvement within 10 days and will attempt to agree with them revised payment terms on your behalf. We will in particular attempt to persuade your Creditors, where appropriate, to accept reduced monthly repayments from You, not to charge interest and to either suspend or withdraw any recovery, or similar, proceedings, which they may already have taken against You or may have threatened to bring against You. We will endeavour to provide as much assistance to You as We can based on our expertise and experience of dealing with creditors.
2.3 Following receipt of the Initial Fee in Cleared Funds We will prepare and issue a Financial Management Programme, normally within 28 days. This may vary from the earlier draft depending on the accuracy of the information You originally provided to Us and our discussions with your Creditors.
2.4 If your circumstances change and You are unable to meet the payments set out in the Financial Management Programme, We shall attempt to re-negotiate with your Creditors and arrange with You a revised Financial Management Programme. We will in any event periodically review your situation, normally every twelve months or earlier if your Creditors insist, and We will prepare and issue a revised Financial Management Programme with You and your Creditors if this is appropriate.
2.5 We shall provide to You a periodic statement listing your Creditors at least every 6 months, the status of any negotiations with them, the Monthly Repayments made to them and the Fees which We have charged You.
2.6 We shall keep You informed of all material communications between your Creditors and Us, and We shall deal with all communications from your Creditors to Us (or to You and provided by You to Us) appropriately and promptly.
3. What You will pay
3.1 You will pay Us the Initial Fee, the Monthly Fee and the Monthly Repayments and any other fees agreed in writing between You and Us for additional services.
4. How We handle your money
4.1 All payments that We receive from You in Cleared Funds will be paid directly into our Client Account. The only payments which We will make out of our Client Account are, in order of priority:
(a) payment of our Fees including any arrears;
(b) payment of the Monthly Repayments to your Creditors in accordance with the Financial Management Programme; and
(c) Any other payments as instructed or agreed with You.
4.2 We will distribute the Monthly Repayments amongst your Creditors in accordance with the Financial Management Programme normally within five working days of receipt of the Monthly Payment from You in Cleared Funds. If there is a delay in any payment which is not beyond our control, We shall take the appropriate action to put You in the position You would have been in if the payment had been made within five working days in Cleared Funds and shall make good any additional interest which has accrued and any default charges that have been applied to the account as a result of the delay.
5. What We won't do
5.1 We cannot lend You money or offer You any credit facilities.
5.2 We will not usually provide the Services in relation to secured credit (such as certain hire purchase arrangements, secured loans and mortgages), rent (including rent arrears), utility bill payments (including arrears), council tax payments (including arrears) and other similar debts.
5.3 We are not solicitors and cannot give You any legal advice.
5.4 We will not arrange for anybody to attend any court hearing on your behalf unless We expressly agree with You to do so, and if so We will charge an additional fee for such service as agreed with You in advance of the court hearing.
5.5 Whilst We will attempt to agree revised payment terms with your Creditors in accordance with section 2, We cannot stop your Creditors from continuing to charge You interest and other charges, or from continuing any current, or bringing any future, recovery proceedings against You if they want to do this.
5.6 We will not ask you to make any payments to us until you have signed and returned your Client Information Form.
6. What You will do
6.1 You must provide Us with full, accurate and truthful details on the form We provide to You of your net income, outgoings, Creditors and dependants and You must also provide Us with details of any outstanding judgments against You or any actual or threatened court proceedings. You must, where possible, send to Us copies or originals of documents to confirm these details.
6.2 You must make the agreed Monthly Payments to Us in accordance with the Financial Management Programme.
6.3 You must allow Us to negotiate on your behalf with your Creditors.
6.4 You must send Us originals or copies of all correspondence You receive from Your Creditors so that We can deal with them on your behalf. Your correspondence will be scanned and stored by Us as an electronic image and the original paperwork destroyed. If originals are provided We can only return them to You if You request this prior to posting.
6.5 During the Term You must not make any payments directly to your Creditors unless You have notified Us in advance that You propose to do so and We have agreed that such payment can be made. We will not withhold our agreement for You to do so unless We have good reason to.
6.6 You must tell Us if your circumstances change so that You are or may become unable to maintain the level of Monthly Payments or if there has been an improvement in your circumstances so that You are able to increase your level of Monthly Payments. We will require two weeks’ notice from You to make any amendments to any Direct Debit arrangements You make for payment of the Monthly Payments to Us.
6.7 During the Term You must incur no further debts, whether on credit or otherwise, other than those relating to your normal living expenses.
7. How You may end this Agreement
7.1 You have the right to cancel this Agreement under section 1.4.
7.2 You may also cancel this Agreement at any time if the total Fees payable under the Financial Management Programme differ significantly from the Fees estimated in the draft Financial Management Programme issued by Us in accordance with section 2.1 above submitted to You. In the event of cancellation under this section 7.2, We reserve the right to retain the Initial Fee.
7.3 In addition to your right to cancel under sections 7.1 and 7.2, You may also end this Agreement at any time by giving Us two weeks’ prior written notice which You may serve at any time whether or not You believe We may have been in breach of our obligations under this Agreement. In the event of cancellation under this section 7.3, We reserve the right to retain the Initial Fee.
8. How We may end this Agreement
8.1 We may end this Agreement at any time by giving You two weeks’ prior written notice if any of the following happens:
(a) You fail to make two successive Monthly Payments; or
(b) You are otherwise in serious breach of this Agreement or have persistently committed a series of minor breaches (even if any one individual breach would not necessarily be regarded as a serious breach on its own); or
(c) You become bankrupt, file a bankruptcy petition, make an arrangement or composition with your Creditors generally, or make an application to a court of competent jurisdiction for protection from your Creditors generally.
9. Effect of ending this Agreement
9.1 When this Agreement ends:
(a) our duties and obligations under this Agreement will come to an end;
(b) your liability to your Creditors will continue to the extent
that any amounts You owe to your Creditors remain outstanding over and above the repayments made to them under the Financial Management Programme; and
(c) You may within 5 days of the end of this Agreement request Us to send You copies of all paperwork received from You or your Creditors that has been retained by Us as a scanned image.
10. Personal information
10.1 We agree to keep confidential all information received from or about You. We will not pass this information to anyone else without your permission, except in line with our data protection statement contained in section 11 or to such of your Creditors as is necessary in order for Us to negotiate repayments with such Creditors, including Creditors who may process your data outside the European Economic Area (EEA).
10.2 If You have opted to receive information from Us by SMS text message (or email, or other electronic means), You are responsible for the security of your mobile telephone (or personal computer) - and must take all reasonable precautions to prevent anyone else from accessing your information, including using all security features available on your mobile telephone (or personal computer) - and for informing Us immediately if your mobile telephone (or personal computer) is lost, your number (or email address) changes or if You suspect someone may have access to the information We send You.
11. Data protection statement
11.1 Please read this statement carefully as it explains what personal information We collect about You and how We use this information.
11.2 We collect personal information (which may include sensitive personal data) about You both directly from You when You apply for our Services and from your Creditors as authorised by your Client Information Form. We may also collect further information as a result of managing your Financial Management Programme.
11.3 We will use your personal information to provide our Services to You, and in particular to:
(a) prepare and issue to You your Financial Management Programme;
(b) negotiate with your Creditors on your behalf; and
(c) keep You informed about your Financial Management Programme and our Services.
11.4 Subject to section 11.5 We may also use your personal information to contact You to provide You details of other products and services which We think may be of interest to You, including those offered by selected third parties. We may share personal information with these selected third parties and they may contact You directly to provide You with details of such products and services.
11.5 You may let Us know if You do not want Us to use or disclose your personal information (and/or sensitive personal data) as set out in section 11.4 above or if You wish to amend the way We communicate with You.
11.6 Other than as set out above We will only disclose your personal information to the extent required by law, court order or as requested by other government or law enforcement authority, or to any company or other entity to whom We either transfer or subcontract any or all of our obligations to You under this Agreement.
11.7 You may contact Us by writing at any time to the Data Protection Officer at our address given above for further information, or if You want to request a copy of the personal information which We hold about You or to ask Us to amend any inaccurate information held by Us. If You request a copy of the personal information which We hold about You We will charge You a fee of £10.
11.8 Please note that We may record and monitor your calls to Us to help Us to improve our service.
12. Other terms
12.1 Your Initial Fee for your Financial Management Programme does not get paid to your Creditors. Your Initial Fee is taken from your monthly payments and split equally over a 6 month period. This will place your accounts into arrears or further into arrears.
12.2 We will commence payments to your Creditors from your first payment to us providing your Creditors have provided us with sufficient information to do so.
12.3 By entering a Financial Management Programme you may receive Default Notices from your Creditors. These will remain on your Credit file for a 6 year period. An account may be recorded as being in default if only token payments are made. This could affect your credit rating.
12.4 Any adverse information on your credit file may affect your career. It is important before entering into any plan of this type you check your employment contract.
12.5 Should we feel that an IVA (Individual Voluntary Arrangement) is the best advice for your circumstances or you choose this option we will refer you to our external Insolvency Practitioners and we may receive a fee for this.
12.6 All Fees are exclusive of any applicable value added tax (VAT) or other sales tax. Please note that although the provision of our Services is currently VAT exempt, this position could change in the future. If it does change We will notify You and amend your Financial Management Programme accordingly.
12.7 We may transfer our rights and obligations under this Agreement by giving You written notice of such transfer.
12.8 All notices sent under this Agreement shall be valid if sent by first or second-class post to the address set out in the Agreement or to a valid email address supplied to Us by You.
12.9 This Agreement sets out the entire agreement and understanding between You and Us and supersedes all prior agreements, understandings or arrangements (whether oral or written) relating to the provision of the Services.
12.10 You acknowledge that You have entered into this Agreement in reliance only on the representations, warranties and promises specifically contained or incorporated in this Agreement and, except as expressly set out in this Agreement, We shall have no liability in respect of any other representation, warranty or promise made prior to the start of this Agreement unless it was made fraudulently.
12.11 We shall not be deemed in breach of this Agreement or otherwise liable to You if We are prevented or hindered from performing our obligations under this Agreement by reason of any event beyond our reasonable control.
12.12 If any part of these Terms of Business is found to be invalid or unenforceable, that part shall be deemed severed from our Agreement which will otherwise remain in full force and effect.
12.13 Any failure on our part to insist on strict performance of any part of these terms and conditions will not be deemed a waiver of our rights and remedies in respect of any future breach.
12.14 We may vary these Terms of Business from time to time and will write to give You at least 30 days’ prior notice of any changes.
12.15. This Agreement is governed by English law and the Courts of England and Wales shall have exclusive jurisdiction for all matters arising under it.
COMPLAINTS PROCEDURE
This notice sets out details of the complaints procedure which we operate to try to resolve complaints which you, the client, may have with regard to the services that we provide to you. This complaints procedure is aimed at resolving complaints quickly and satisfactorily and further improving the quality of our service.
What our complaints procedure covers
Our complaints procedure covers complaints which you may wish to make with regard to the services which we have provided to you, in particular, the manner in which we have dealt with your Creditors and the information we have provided to you about our dealings on your behalf.
How to make a complaint
If you are unhappy with the service we have provided to you, you should in the first instance discuss the situation with your Initial Adviser or Case Adviser. Should you be dissatisfied with the explanation he or she has provided to you then your complaint will be referred to the company's Compliance Department. Written complaints should be addressed to the Compliance Department.
How we will action your complaint
The Compliance Department will consider the contents of your complaint. We may need to contact you for further information in order to better understand your position. We will conduct a full investigation into the points raised and discuss the details of your complaint with your Initial Adviser and/or Case Adviser as appropriate. Once all information has been considered you will be contacted further to confirm whether the company accepts either completely or to some degree your complaint. Where applicable, you will be advised of what steps the company will take to put right the complaint and ensure that the same problem does not reoccur. It is the company's objective to resolve a complaint satisfactorily within 10 working days although where more detailed investigation is required the process may take up to 8 weeks. You will be kept informed of the time scale that will be required for us to investigate your complaint.
Financial Ombudsman Service
If you are not satisfied with our final response, you may be eligible to refer the matter to the Financial Ombudsman Service, details of which will be provided at that time.
Your Rights
We hope that you will accept the decision of our Compliance Department. If this should not be the case, you remain free at all times to seek an independent form of advice.
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