Ward Quin Associates Limited

Reduce Your Monthly Cash Out-Flow to a Level You can Afford!

Creditor Management Key Advantages

Your total monthly cash outflow is reduced to a level that you can afford.
Day to day pressure is handled by others.
Your creditors start to receive payments immediately a program is agreed.
An informal agreement with your creditors is a good alternative to formal insolvency schemes
avoiding all the legal steps that you would otherwise be bound by.
Your creditors will stop adding charges / interest to the debt and may even reduce them once
they have agreed to a payment profile.
Your creditors will stop any legal action such as County Court Judgment, winding up
applications etc. once they have agreed to a payment profile.
Monthly repayments are set based upon your financial statement of account and your ability to
make ongoing payments.
Should you procure a lump sum, then it is possible to agree a full and final settlement with one or
all of your creditors, often at a greatly discounted rate.
Scheme life-time will be estimated at the start but may vary as your financial situation changes.

Creditor Management Key Disadvantages

Because the management program is informal your creditors could change their mind and exit the
plan seeking relief through other means.
Your credit rating may be harmed if your creditors do not respect the confidentiality agreement
that they have signed.
If your monthly payments are too low and you don’t agree a discounted settlement at some point
in time then in the long run it may cost you more. The key up-side is short term stability.
If your circumstances don’t improve then you may have to resort to a formal process in the future.

Our fees: Two elements to our fees

Ward Quin charge a set-up fee equivalent to one month’s program payment unless in the most
unusual circumstances the program payment is too low to cover cost or the case is more complex
than normal. In any event a fixed fee will be agreed before we start to act on your behalf.
Ward Quin charge a fixed monthly management fee. The fee is agreed with you at the start of
the program to reflect the complexity of your circumstances but could range from 10% to 18%
of the total monthly creditor debt payment we handle on your behalf within the management
of the program.

All our fees are VAT free and there are no other hidden costs or fees applied to the account. All fees are automatically
included in the agreed payment profile.