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What happens now?

• When your pack is received you will be allocated a Supervisor who will explain the process and is available to answer all of your queries.
• Your supervisor will then contact each of your creditors with payment offers based on a pro rata distribution in accordance with the level of debt owed to each.

How can I pay my Debt Management Plan?

• Standing Order – A standing order form can be requested at any time.
• Debit card payments – You can arrange for a monthly 'call' to make a card payments.
• By Paying in Slips at a local Royal Bank of Scotland – Paying in slips are available at any time.
• By cheque – A cheque can be forwarded with your post in the prepaid envelopes we can provide.

My Creditors are still phoning and writing to me?

• All creditors are legally allowed to try to make contact with you up to three times daily for each account.
• The creditors may still try to make contact with you until they have accepted the proposed payment arrangements.
• When a creditor calls please politely confirm that you are in Debt Management with TCF and end the call.
• When you receive creditor post please forward this on to your supervisor as soon as possible so they can deal with it on your behalf.

Once my Debt Management is running, can I add another debt?

• Yes, you can add any debts which may have been omitted previously.

What happens if my creditors reject the offers made?

• Any funds that have been raised to pay that particular debt will still be sent to the creditor on your behalf.
• The debt may be passed through to another creditor such as a 'Debt Collection Company'.
• Should the debt be passed to another company then the offer will be submitted to them for their approval.

Can I pay a debt off early?

• If you are in a position where you can fully clear a debt then the money from your payments will be distributed to the remaining creditors.
• Additional payments can also be made directly to the creditor in addition to your agreed distribution to clear the debt sooner.

What happens if I lose my job?

• If your circumstances change at any time you must contact your Supervisor, you Supervisor will conduct a financial review to ensure that your Debt Management Plan reflects your current circumstances.

When is my Debt Management Plan reviewed?

• Every six months
• Or when your circumstances change.

How will this affect my credit rating?

• Due to the payments not being of the original contractual requirements of your account this may lead to 'defaults' being placed against your account.
• When offers of payments are not the contractual requirements of your account the creditor may forward your account to a 'Debt Collection Company'.
• You may receive telephone calls/letters etc threatening Legal Action or Bailiff visits, please contact your Supervisor who will deal with each concern.
• Consistent monthly payments made to your creditors could repair any damage to your credit rating in the future.

How can I ensure that my Debt Management Plan is progressing well and my creditors are 'happy'?

• Make payments regularly at the agreed time every month.
• Ensure that all paperwork is forwarded as soon as possible in the prepaid envelopes supplied.
• If you have any queries or your circumstances change contact your Supervisor or another member of the Supervisory Team for guidance.
• We will endeavour not to contact you unless it is necessary, so should you receive a message from your Supervisor please return the call as soon as possible.