CREDITOR CONTACT:
Some of my creditors are stating they have not heard from B&E yet.
Many of the larger creditors can take up to 3 months to receive, scan and review correspondence due to the volume they receive. We need to give them time to process our offers and formulate a reply.
Some creditors may use this to instigate contact from you, as it is easier for them to take an additional payment from you over the phone. We would advise you not to make additional payments outside the plan as this will jeopardise the offers we have sent. Just refer the creditor to us.
Many letters from creditors are automated. Their main purpose is to instigate contact from you as it is easier for your creditors to take an additional payment from you over the phone.
As you are no longer making your contractual payments, even though creditors are receiving your reduced payments, many systems are unable to distinguish between reduced and missed payments and so you may continue to receive these letters. We always advise you to forward these into us so that we can continually and effectively manage your file.
Debts will not always stay with the original creditor, but may pass back and forth to various collection companies during your plan. This is normal and you just need to let us know when you receive a letter to advise the debt has changed hands, so that we can contact the new collector and make our offer to them.
Please let us know as soon as you receive a letter from a new collector, so we can be prompt in getting our offers to them
RECOMMEND A FRIEND
If your friend has called the ‘refer a friend’ number (0800 015 1650 or 0800 096 8006) and given the advisor your reference number, you will be eligible for the vouchers. These are sent out by recorded delivery once the new client has made their full admin fees.
The ‘refer a friend’ promotion is our way to say thank you to existing clients for referring their friend to our service. As such only the pre-existing client would be eligible for vouchers.
FINAL PAYMENTS:
3 months from the end of your plan, we contact your remaining creditors to gather final balances. We will then calculate your final payment breakdown and contact you to explain how this has been calculated and make arrangements to take the final payment on your plan.
BAILIFFS
Do not allow the bailiff to enter the property and ask them to return to their vehicle where you will discuss the matter. Contact B&E to ensure that this debt is on your debt management plan. We are happy to talk to the bailiff on your behalf – even while at your property.
ADDING ON OR REMOVING DEBTS:
We can add a new debt to the plan if needed. You will just need to provide us with the details and we will review your payments and offers. You should avoid taking further credit whilst on your plan. If you are having difficulties please contact us
B&E are unable to deal with any debts which are secured, debts which are linked to a business which is still trading or any fines issued by the Courts or Police. We will however make an allowance for any of these debts on your monthly outgoings to ensure you have money to pay for them outside the plan.
SETTLEMENTS
If you’ve been fortunate enough to receive a lump sum and want to repay your outstanding debts then Baines and Ernst could help. A Settlement depends on your personal circumstances and is subject to creditor agreement. If your creditors agree to a final payment at a reduced rate, then they are agreeing to write off a proportion of your debt. Read more about debt settlements …
CIRCUMSTANCES
As soon as you are aware of a change in circumstances, however big or small, please contact us via phone or email at customer.services@bainesandernst.com
Baines and Ernst Ltd