Personal Debt

Key Features of Prima Finance’s service:

• Confidential and non-judgemental – You are our client and we represent your best interest in all we do.
• A scheduled home visit within 2 days once you contact Prima Finance.
• We Prioritise your debts to ensure debts such as your mortgage, rent, utility bills are given top priority.
• Court Actions – we can urgently negotiate with your creditors and get them to agree a new repayment schedule and stop such proceedings and/or liaise with your solicitor to provide him/her with supporting financial information.
• All Creditors are immediately contacted upon approval of your Debt Management Plan.
• A dedicated Personal Case Manager, that deals with you and your creditors at all times. Your case manager will be there to help and advise you at any stage.

Home Visit – Financial Adviser

We aim to meet all our clients face to face, which helps ensure we have a full understanding of your circumstances and situation. This meeting takes about 1 hour, the better the understanding we have of your circumstances, the better deal we can negotiate for you with your creditors. During this meeting, we will look to see proof of income and evidence of expenditure, e.g. bank statements, income statements etc. We will also look at cost savings opportunities for you. e.g. reduced insurance costs, lower phone or energy costs.

Debt Management Plans

During our meeting, we calculate what you can realistically afford to pay each month, we then negotiate with your creditors to get them to agree to this Debt Management Plan and thus the lower monthly repayments for you. You then pay this amount to Prima Finance each month, which includes our monthly management fee, and we in turn pay your unsecured creditors each month on your behalf. We pay your creditors on a “pro rate” basis, each month.

A Debt Management Plan gives you the freedom to manage your finances in an informal agreement with your creditors. Another name for this is a Single Payment Plan, i.e. one single affordable monthly payment that you make to Prima Finance.

The Key Benefits of a Debt Management Plan:

• You only pay what you can afford each month.
• One Simple monthly repayment.
• With up to 90% of cases we get the creditors to agree to freeze interest and charges
• You no longer have the hassle of dealing with your creditors letters and phone calls
• You can stop or change the plan at any stage.

Full & Final Settlements

Prima Finance offer a specialist Full & Final Settlement service, where on average creditors have agreed to write off 50% of the outstanding balance.

Our clients’ circumstances may change during the Debt Management Plan, where occasionally clients get access to a lump sum payment at some stage in the future, e.g. a savings policy matured, re-mortgaging, bonus payments, inheritance etc. This gives the opportunity to negotiate partial or full settlement of your debts with your creditors. Skilled negotiations by Prima Finance, on your behalf, can have a significant difference on what you will end up having to pay your creditors to get a full and final settlement.

Personal & Business Debts

Debt is a fact of life today, be it personal or business debt, people from all occupations and professionals are experiencing debt difficulties currently. We also deal with Business debt, where we undertake a full financial review of your business. We will then determine the most appropriate course of action to be undertaken.