Debt Management Solutions in Northern Ireland

What is Debt Management?

If you are struggling to meet your monthly commitments, only making minimum payments on your credit cards with no end in sight, then a debt management plan could be the right solution for you. Instead of borrowing more money, our team at Assured Money Solutions in Northern Ireland will meet with you to assess your financial situation and come up with a plan which will help you meet your monthly commitments without taking another loan, many thousands of people across Northern Ireland already have a debt management plan in place.

How does it work?

You make one low monthly payment.
You only pay back what you can afford.
Assured Money Solutions deal directly with your creditors.
We negotiate interest charges to be reduced and  frozen.
We do everything we can to stop hassle from creditors.

Our Service is second to none

You send all creditor correspondence to us and we deal with it on the day it is received.
Every Client is treated as an individual, customer excellence is key.
All queries are handled on the day they are received.
We work tirelessly on behalf of all our clients.
We guarantee a confidential, non-judgemental service.

Our team of debt specialists can help you take control of your debts to set you on the path to a stress free life.

We can arrange a consultation in our office  in Newry or arrange to meet you at your home or workplace.

Our Fees Explained

At AMS-NI we like to be transparent in everything we do and to operate under OFT guidelines we need to be transparent as a matter of course. As an initial fee we only take the first payment in full into your DMP as a fee, there are no other upfront fees, although we do take some of payment 2 and 3 as a fee as outlined below.

In months 2 and 3 we pay £5 to every creditor whilst we are setting up the plan and negotiating to freeze interest payments and stop charges with your creditors. E.G. If you had 20 creditors we would pay £100 to the creditors in month 2 and month 3; if you had 8 creditors which is fairly typical we would pay £40 over to your creditors in  both months 2 and 3 – the rest we would take as a fee.

From month 4 all of the money you pay into your debt management plan goes to your creditors bar our ongoing monthly administration fee for taking over the total management of your debt including all correspondence. This figure is currently 14.99% with a minimum charge of £20 and a maximum charge of £90 per month. E.G. If your paying £150 into your debt management plan we take £22.49 per month as a fee, everything else is distributed to your creditors in the fairest way.

If we are able during the lifetime of your debt management plan to negotiate full and final written settlements with any of your creditors we charge 14.99% as a fee on any savings on any settlements that we make. For example if you have a debt of £100o with a particular debt collection agency and we settle that debt in full on your behalf for £500. We would charge you 14.99% of the £500 saving that we save you i.e. £74.99 as a fee.

Please be aware that due to reduced payments to your creditors under the DMP, Debt Management Plan, unless your creditors agree to reduce or freeze interest and other charges (which they are not obliged to do and nor can we guarantee it) then there will be an increase in the total amount of debt to be repaid and the time taken to pay off the debts.
When you first apply for debt management plan and pay your Initial Fee over the first 3 months of the plan and prior to your first payment being made to your monthly payment plan by you for distribution to your creditors, you may fall behind (or further behind) with your creditors.
Because taking out a plan will result in you not making the contractual repayments on your unsecured debts that were outlined in your original agreement, you should expect that your credit rating will be adversely affected in the short term and possibly in the medium to long term. However, your credit rating may already be affected if you have arrears or a history of missed or late payments. A record of your agreement with us will be held on your credit file for up to six years.
Although you may become free from debt at the end of the DMP period, if a default notice has been issued the effect is likely to remain on your credit record for 6 years.
In line with the Consumer Protection (Distance Selling) Regulations 2000 you may cancel the Plan at any time. You will also have a cooling off period of seven working days from the date the Plan commences, during which you may cancel in writing and receive a refund of the initial fee paid to us.
You must make sure that you continue to make your payments in full towards any mortgage, other secured loans, your Council Tax payments and your utility bills. However, we will take these payments into account when we work out your disposable income in the monthly payment plan.