We provide confidential debt advice that could help you:
Manage your debts with one affordable monthly payment
Reduce and even stop all interest and charges
Get relief from stress with professional help
We can help youfind the best option:
Why choose us?
and support
from your creditors
Your debt questions answered
Example
Here is an example of how a Debt Management Plan could make your debts affordable
monthly payment:
monthly payment:
monthly fee of £15
EMCAS believe that everyone should have access to expert debt advice whenever it is needed, we pride ourselves on really listening to you and your situation so that we can provide the right advice. Sometimes, just searching for advice can be a big step to take, don't worry, we won't judge you and all of our help is confidential.
You can call us between 9am-8pm Monday to Thursday and
8.30am-5.30pm on a Friday.
All of our Calls are recorded for
training and monitoring purposes; to ensure best advice and excellent customer service.
What is a Debt Management Plan
A debt management plan is an informal agreement between you and your creditors. We help you manage your priority costs, such as rent or mortgage, utility bills and living expenses so they can always be paid and you have enough money to live each month. Then a reduced repayment plan is arranged; one affordable payment each month towards your unsecured debts where we request all the interest and charges to be stopped.
Is it the same as a loan? Will I be credit checked
No, our Debt Management Plan is not a loan. We will not lend you money or charge you interest and we do not need to perform credit checks. Our repayment plan is a solution to put you back in control and rebuild the trust between you and your creditors.
How are EMCAS' fees collected
We charge an initial setup fee which is 100% of the first two monthly payments you make to EMCAS, we charge this fee to cover the cost of:
- Completing your financial assessment
- Collecting and collating all your financial statements/information
- The time consuming process of confirming your outstanding balances
- And negotiating repayments to your creditors
When you make your monthly payment we deduct 15% when re-distributing the payment to your creditors. If we do not make a distribution, we do not take our fee. This fee is charged to cover the cost of:
- Distributing payments to your creditors
- Ongoing negotiation and the administration of your case with creditors
- Any help and advice you need from your personal account manager
- Client statements
How long will the plan take
As you are making reduced repayments it will take longer for your debts to be repaid and repaying over a longer period may also increase the total amount to be repaid. However, in most cases interest and charges will be frozen. This would mean that all your monthly repayments will go towards actually reducing your debts, not paying interest and charges as well.
What else do I need to know
Entering into a Debt Management Plan will result in you not making the contractual repayments on your unsecured debts; therefore your credit rating can be adversely affected in the short to medium and medium to long term. However, your credit rating is likely to already be affected by any repayments which were missed or late prior to entering the plan.
View EMACS’ Terms of Engagement.
