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Regina Fisher | Principal Countrywide Financial Services


My name is Regina Fisher and I am the Owner of  Countrywide Financial Services and if you have any concerns with how your matters are handled, I humbly ask that you contact me so that I can make matters right for you.

Debt Management Plan

If you don’t qualify for an IVA don’t panic! Another way to reschedule your debts is a debt management plan. A debt management plan is designed to help you reschedule all your unsecured debts into one AFFORDABLE monthly payment. Under a debt management plan our aim is to help you:

  • Make one low monthly repayment
  • Stop creditor hassle
  • We will deal with all your creditors

debt management plan has helped tens of thousands of people across the UK with regaining control of their finances. If you would like more information regarding debt management, call our help line on 0844 474 0010.

Debt Management Plans – How they work

Debt management plans may offer some much needed breathing space when your debt problems are taking their toll on your day-to-day life.

What is a debt management plan? A debt management plan involves negotiating reduced monthly payments with your creditors to allow you some time to sort out your finances. Although the monthly payments will be lower the plan will usually lead to the overall amount being paid back to be increased and it may have an adverse affect on your credit rating.

Your creditors don’t have to agree to the plan but it shows that you’re taking control of your debt problem and trying to do something about it. You may find more relief by allowing an experienced debt advisor negotiate with your creditors on your behalf, rather than doing it yourself.

Once an agreement is in place with your creditors for reduced monthly payments, these will be collected by your debt management company and distributed amongst them. The management fee for your plan will already be included in your monthly fee.

There may be a period where contractual payments are not met due to the initial fees to the debt management company. Only unsecured credit can be included within the plan, therefore mortgage payments and payments to secured loans cannot be included in the plan. Other types of credit may also be excluded from the plan. Your debt management company will advise you details regarding what can and can’t be included within a plan.

Rescheduling debts will usually lead to an increase in the total amount to be repaid and may have an adverse effect on your credit rating.

Debt Management | Debt Test | Request a Call Back

Debt Consolidation Loan

If you’re looking to consolidate your debts you may have already considered a secured or unsecured loan. We specialise in helping people with a bad credit history, CCJs, arrears or recently declined a loan elsewhere. We have a team of specialists ready to answer any questions you might have regarding a debt consolidationloan or any other debt consolidation solution. Phone 0844 474 0010 for help and advice.

Debt consolidation and its meaning

Debt consolidation is one possible debt solution that may be available to you if you’re experiencing money problems.

What is debt consolidation?

Debt consolidation is the process of taking out one single loan to pay off all your outstanding unsecured debts such as personal loans and credit cards.

A debt consolidation loan can be either secured or unsecured.

Secured debt consolidation loan

This type of loan may allow you to consolidate all your existing unsecured debts, things like credit cards and store cards, into one loan which is secured against an asset. This asset will usually be your home and therefore is not an option available for tenants. Failure to keep up with the repayments on your secured debt consolidation loan could result in your home being repossessed.

Providing security for the loan in the form of your home may mean you will benefit from a lower interest rate than you were paying on all your existing unsecured debts. This will mean that previously unsecured debts will be secured against your property and as the repayment period may be longer the overall repayment amount may be greater.


Unsecured debt consolidation loan

This type of loan may also enable you to consolidate all your existing unsecured debts into one loan which covers them all. However, this loan won’t be secured against any of your assets. The downside to this type of consolidation loan is that because you’re offering the lender no security for the money you’re borrowing, they will usually charge a higher interest rate than for a secured loan.

An unsecured debt consolidation loan may still offer you a lower interest rate than those of your store and credit cards.

Debt Consolidation | Debt Test | Request a Call Back


What is an IVA?

An IVA is an alternative to bankruptcy, but can only benefit those who have over £15,000 of unsecured debt. Thisdebt solution is designed to help you:

  • Pay back a proportion of your debts over a set period of time (usually 60 months)
  • Write off all remaining debts at the end of the scheme
  • Stop creditor hassle
  • Stop interest and charges

The above is applicable where an interim order is granted and once the IVA is in force. A fee will also be charged in IVA cases and fees may also be deducted from initial scheme payments before they are distributed to creditors. It is also worth noting that entering into an IVA will affect the consumers credit history for 6 years. Failing to meet payments in an IVA may lead to a bankruptcy case in certain severe situations, it is also worth noting that some homeowners may be required to remortgage their home during the scheme.

For those who qualify (take our debt test), an IVA can be the best debt solution for you.

An IVA is a legally binding agreement between you and your creditors which allows you to make an agreed monthly repayment which is normally fixed for 5 years. An IVA consists of paying an affordable amount each month back to your creditors based on an independent assessment of your total income and expenditure.

Circumstances where an IVA may be a suitable option

IVAs are specifically for unsecured debts such as personal loans, bank overdrafts, store cards and credit cards. Secured loans such as vehicle H.P. agreements and mortgages are not allowed to be included in your IVA. YourIVA must be approved by 75% of your creditors by value in order to go ahead with the process.

  • A fee will be charged
  • Fees may be deducted from initial scheme payments before they are distributed to creditors
  • Entering into an IVA will affect the customer’s creit history for 6 years
  • Failing to meet payments can lead to bankruptcy
  • Some homeowners may be required to remortgage their home during the scheme

Your IVA proposal will be put to your creditors to vote on by a licensed insolvency practitioner, usually referred to as an I.P.

IVA’s | Debt Test | Request a Call Back


Bankruptcy can be a big step but not necessarily the wrong one, in some cases it may be the only viable option. Although suitable alternatives may be availiable, here at countrywidefinancialservices.co.uk we have alternatives to Bankruptcy which could help you find your most suitable debt solution.

If you want to declare yourself Bankrupt you can arrange a call back with one of our debt specialists.

What is bankruptcy?

Bankruptcy is the name given to the legal process that takes place when your debts have spiralled out of control and the court takes away the responsibility from you for repaying them. If you’re made bankrupt, you will no longer be in control of your assets and your home may be sold off with the proceeds being distributed amongst your creditors. You may be asked to sign an income payment agreement or be subject to an income payment orders which typically means you will have to pay an agreed amount from your monthly income for up to 3 years, which will go to your creditors.

Bankruptcy can have serious personal and financial consequences and you, should seek professional advice before considering declaring bankruptcy.

Bankruptcy |  Debt Test | Request a Call Back

Trust Deeds

Trust deeds are basically the Scottish equivalent to an IVA (Individual Voluntary Arrangement), and is considered an alternative to bankruptcy (sequestration).

The Idea behind a trust deed is that you will repay your debts within a specified period of time as with an IVA (this is usually a period of three years), these monthly repayments are based on what you can afford at the moment, this may be suitable for people who cannot afford to make the monthly repayments, but still have enough of a disposable income to pay into a trust deed.

What is a trust deed?

A trust deed works in a similar way to an IVA in that you have to make a formal application to your creditors through an Insolvency Practitioner, who can then vote to accept or reject it. The trust deed proposal put to your creditors will be for an affordable monthly amount to be paid over 3 years as opposed to the 5 years in an IVA. If you maintain your agreed payments for these 3 years, then any remaining debt you have will be written off by your creditors.

The payments you make will be collected by your Insolvency Practitioner and distributed amongst your creditors. They will take their own fees for the administration of the trust deed from the money you pay. Once your trust deed application has been accepted by the majority of your creditors or more than two thirds by value, it then becomes protected and is legally binding on you and your creditors.

  • In the case of a trust deed a fee will be charged
  • Fees may be deducted from initial scheme payments before they are distributed to creditors
  • Entering into a Trust Deed can affect the cutomer’s ability to obtain credit
  • Failing to meet payments can lead to bankruptcy (Sequestration).

Although it is considered to be an informal agreement, trust deeds are still regulated by the Bankruptcy (Scotland) Act 1985.

If the other criteria are met with the trust deed itself can be registered as a Protected Trust deed.

This stops creditors from taking any form of legal action against you in attempt to obtain money

Trust deeds are currently only availiable to people who live in Scotland.

For a trust deed there are certain requirements:

  • You must provide the trustee with details of everyone you owe money to, your creditors
  • How much money you think you can pay into an arrangement each month
  • And any other relevant financial information that may be important

Trust Deeds | Debt Test | Request a Call Back

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