Legal Debt Help & Support
The Debt Management and Legal Protection Service from Breathe Financial Management Ltd is a ground-breaking service for people with debt problems. Our Debt Advice Team will initially assess our clients circumstances with them in confidence so as to ascertain what options are available to deal with our clients individual situation.
The Debt Management Process
If our client would benefit from our comprehensive debt management service then we will compile a financial statement on behalf of our client and contact all of their creditors to inform them that we are representing our client and remind them of their responsibilities to work with us in determining a suitable way forward for our mutual client.
We will also request accurate balance information along with copies of our clients Consumer Credit Agreements (CCA) from each creditor so that we can examine the lawfullness of each agreement. When we are in receipt of this information we will communicate to the creditors our clients repayment abilities given their circumstances and in most cases propose a debt repayment plan based on the pro-rata disbursement of our clients surplus income based on their financial statement of means. Where a creditor is unable to produce a copy of our clients Consumer Credit Act then that creditor has no legal right to take debt recovery action against our client and as such that particular debt will be legally unenforeable and will not be included in our clients debt management plan. We may also take legal action against those creditors that cannot provide copies of CCA’s (or where CCA’s have been constructed incorrectly) for the repayment of any monies made by our client previously in respect of the credit agreement.
Formal Insolvency Options
If formal insolvency procedures are deemed appropriate (such as bankruptcy or an Individual Voluntary Arrangement) then we will work in partnership with our Insolvency Practioner partner organisation to assist our client through this process. If we have determined that our client has been mis-sold credit products then we may still continue to act on behalf of our client to obtain reimburesement of monies paid towards any mis-sold credit product along with any additional supportive legal action against the creditor deemed necessary.
