Welcome to Debt Deliverance

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1 Welcome to Debt Deliverance The aim of this information pack is to give an overview of how we can potentially help you and your clients get a better deal. However there is a lot more to Debt Deliverance than these few pages can explain. Currently due to the economic climate in Britain alone there are literally millions of people who are looking for a solution to their rising debt issues. With our help bankruptcy doesn t have to be the only option, and is not always the best solution - Point debt in the right direction.. Our Direction. And let your clients take control of their finances with our help. Over the many years of providing financial products, we ve listened to our clients and learnt a few things about what s most important to them. Our clients have told us that the essential elements of our promise are a wide choice of products and services, good communication, long term value and unrivalled service, but most importantly putting their needs first as a customer and not the needs of the company. I hope this brief information pack gives you a flavour to the kind of company that Debt Deliverance is, and that it makes you want to talk to us further about developing a working partnership. If you want to explain anything further, or you d like to arrange an informal chat, please call me our marketing team on I d be happy to take your call and if I am not available one of the business development managers will be able to assist. James Smith Head of Business Development

2 Who we are? Debt Deliverance a complete financial solutions centre the perfect partner for you and your indebted clients. Debt Deliverance were established to provide a debt solution referral service to UK financial intermediaries and professional advisors. Our key focus is the provision of debt solutions, and the offering of an entire packaging service to free your over-indebted clients from there financial difficulties. Because we operate on a referral basis, dealing only with financial intermediaries and professional advisors, we guarantee never to cross-sell or approach clients directly without your express permission. The advanced online tracking systems available provide total transparency, allowing introducers to check on the progress of their client s cases and retain full control at all times. The unique service offered by Debt Deliverance provides introducers with a valuable addition to their portfolio of services. The complete introducer service has been designed to allow you to tap into our expertise. Debt Deliverance can help your clients come to terms with their finances and recommend the best solutions that are tailored to each individual needs. It couldn t be easier to let us help treat your customers fairly. MCOB (Mortgage Code of Business) Where a firm makes a personal recommendation for a mortgage, the main purpose of which is to consolidate existing debts, the following matters must be considered. The cost associated with increasing the period of repayment Whether it is appropriate to secure a previous unsecured loan If the customer is known to have payment difficulties, whether it would be more appropriate for the client to negotiate an arrangement with his creditors than to take out a mortgage This is where Debt Deliverance can work for your business. Treating customers fairly insists that advisors search for the most suitable options for resolving clients financial difficulties. Financial intermediaries and advisors throughout the UK have discovered that appointing a trusted affiliate partner to take care of clients experiencing financial difficulties allows them to free time up to concentrate on their core business activities, whilst ensuring that their client is given the widest range of recommendations available.

3 Why we are here Personal debt in the UK has exceeded 1 trillion, increasing by 1 million every 4 minutes. With at 300 people becoming insolvent every day, the business of recommending effective debt solutions has become Solutions have become an essential part of any advisor's portfolio. It has become increasingly clear that for many consumers the pressure of keeping up with a deteriorating personal financial situation by the expedient of being able to borrow more money to consolidate is no longer an option. The need for effective advice in this area has never been more crucial. Consolidation of debt by taking out a secured loan or by remortgage may not be the most appropriate advice, particularly if there e is any indication that the client is imply forestalling the inevitable and is likely to fall into arrears. It couldn t be easier to let us help treat your customers fairly.. Citizen s advice bureau (CAB) figures in September 2007 showed that: Debt enquiries in the UK are running at a record high Debt Problems have been doubled in the last 10 years CAB deals with 6600 consumer debt enquiries every day Credit card debt and problems with unsecured loans dominated, accounting for 40% of the CAB debt caseload.

4 What we can do Don t let bankruptcy be your clients only option. The days of easy credit and the buy now pay later culture may be numbered, but they will leave a difficult reminder for those left struggling with debt. The credit crunch will claim casualties and it will unfortunately be enough to tip some over-indebted households over the edge. There are many points to consider when dealing with your clients financial enquires. Recommending the best and fairest course of action will always be your main priority. Whether your customer is a private individual with customer debt or in business either in partnership or as a sole trader, Debt Deliverance can quickly and effectively implement an effective debt solution. Debt Deliverance will help your client to come to terms and deal with their finances and will recommend a solution that is best for their individual circumstances. If they own their own home and have relatively few debts it may be that a debt management plan may be the most appropriate recommendation. However, if your client has substantial debts and is unable to pay them as they fall due, they are technically insolvent and the only option available may be either to declare themselves as Bankrupt or to apply for an Individual Voluntary Arrangement. With Bankruptcy, your client s affairs would be dealt with first by the Official Receiver and then possibly by a Trustee in Bankruptcy. There assets would be realised for the benefit of their creditors and if they own there own residential property, the assets required would include their home. Through Bankruptcy, your client s home is at risk if they cannot raise the sum required to buy back there interest. An Individual Voluntary Arrangement may be a realistic alternative allowing your client to retain their assets. Make Debt Deliverance your partner of choice in this area.

5 Reasons to recommend Reasons to a recommend debt solution: a debt solution Your Your client client many: many: Have Have fallen fallen into into mortgage mortgage arrears, arrears, and and have have a large a large amount amount of unsecured of debt. unsecured debt. Be facing Be facing repossession. Be coming Be coming to the to the end end of a of fixed a fixed rate rate mortgage, mortgage, and and realise realise that that previous surplus previous funds surplus are no funds longer are adequate no longer to cover adequate unsecured to cover debts. unsecured Be relying debts. on drawing funds from credit cards to fund there living expenses. Be relying on drawing funds from credit cards to fund there living Not expenses. be aware that some credit card balances are being automatically reduced. Not be aware that some credit card balances are being automatically Be unable reduced. to source any sub-prime lending products. Have Be experienced unable to source a drop any in their sub-prime house lending prices and products. subsequently have less LTV Have available experienced for re-finance. a drop in their house prices and subsequently have Have less maximum LTV available offer that for doesn t re-finance. fully cover their consolidation requirements. Have maximum offer that doesn t fully cover their consolidation requirements.

6 Services We Offer What are the services available to my client and me? By using Debt Deliverance as your proffered partner in this vital area, you don t need to become an expert in the field of debt solutions to recognize when a customer needs specialist assistance. Once you have identified the need for a complete debt solution, the experienced staff at Debt Deliverance will, with your permission, deals directly with your client to explore and advise the best recommendation depending on their individual circumstances. You will be kept fully informed of all progress throughout processing. Debt Deliverance will assist you to help your client: Potentially write off a proportion of their overall debt. Clear their debt in five years. Keep their house and car. Make one monthly payment that is affordable to them. With FREE, impartial, no-obligation advice. Avoid the consequences of Bankruptcy. Stop interest and charges and legal action. Take back control of their own affairs.

7 In-house Insolvency Processing Debt Deliverance boasts a specialist in-house Insolvency Processing Team, headed by one of the UK s leading Insolvency Practitioners. This experienced team are experts in the IVA market, and have developed invaluable relationships with creditors throughout the UK, allowing more effective negotiation as well as an in-debt knowledge of the processes involved in ensuring IVA applications are successful. By retaining all aspects of processing in-house, Debt Deliverance guarantees To offer financial intermediaries to most efficient services available within the debt solutions field. How Debt Deliverance will work for your business: Free access to a wide range of debt solution. No cross-selling guaranteed. Dedicated introducer website. Individual, best-advice recommendations. In-house IVA & debt management processing. Additional income stream available on a simple referral basis. Free, impartial, no-obligation advice. Sensitive approach and confidentiality guaranteed.

8 Options Planning their future Debt Management plans allows your clients to make repayments they can realistically afford once essential living costs have been taken into account. The client makes one monthly payments to Debt Deliverance which is distributed to all creditors involved. Typically the new payment amount under a debt management plan is half the amount the client is currently paying, but will depend on the individual circumstances. An IVA is an agreement between an individual and their creditors in full satisfaction of all debts and is an alternative to being forced into bankruptcy. An IVA proposal is prepared by a licensed Insolvency Practitioner, who will suggest what contributions can be made based on the individual s ability to pay. Creditors can the either accept or reject the proposal; if the required majority (usually 75%) of creditors accepted the proposal, the proposal is binding on all creditors even if they voted against the individual. The individual is of course also bound by the terms of the IVA and is obliged to honour the repayment schedule agreed throughout their supervisory period (between 3 and 60 months). The voluntary contribution payments will be paid by the individual into the IVA fund which is managed by the Insolvency Practitioner at Debt Deliverance. It is the money in this fund that is used to pay the creditors. The Insolvency Practitioner will agree creditor s claims, will ensure that the individual is paying the correct amount and when sufficient funds have accrued will pay the agreed share to creditors. At the end of the supervisory period the individual is released from their outstanding debts which are written off. 1. Debt Management Plan Ideally suited for debts between 1,000-12,000. Simple to set up Debt Deliverance will manage all admin. Allows reduced, realistic payments to be made over a number of years. Allows your client to regain control of their finances. 2. Individual Voluntary Arrangement Ideally suited for debts over 12,000 Writes off a proportion of the overall debt Potentially debt free within 3-60 months Safeguard house and car. Avoids the consequences of bankruptcy

9 The Debt Management Plan allows the client to make a repayment that they can realistically afford once we have taken into account all their essential living expenses. The client makes one monthly payment to us which we distribute to their creditors, typically the new payment is half the amount they are currently paying, but will depend on the individual circumstances. An Individual Voluntary Arrangement (IVA) is where the individual offers monthly voluntary contribution payments for a period of up to five years. The amount that is offered is whatever the individual can reasonably afford and can be as little as 250 per month and will usually be substantially less than debt payments that were previously being made. All interest charges will be frozen during the course of the IVA, and at the end of the five year period the arrangement is concluded and the reminder of the clients debts are written off. An alternative to voluntary contribution IVA, the lump sum IVA involves the payment of a one-off lump in full settlement of the debts. Such a proposal may be suitable where a family member is prepared to make a one-off payment or where their is equity in a property that can be re-mortgaged. A lump sum IVA may be attractive to creditors, as it will enable them to be paid in a matter of months rather than waiting for up to five years. A proportion of the clients debt can also be written off during this process. Where a client may have substantial debts but could only offer a low monthly contribution in their IVA but own their own property, we can negotiate to pay a lower monthly contribution with a lump sum paid towards the end of their IVA, this can be arranged by the way of a re-mortgage.

10 How We Handle Your Client The hands off approach Throughout the entire process your client remains to be your client. Debt Deliverance operates a strict hands-off policy and guarantee never to attempt to cross-sell any other products or services at any time now or in the future. Your client will be referred back you should any opportunities for re-mortgage arise throughout the entire supervisory period. The choice is yours. If you advise us that we can handle the whole process on your behalf, from limited information we will contact the client directly and keep you updated with regular case summaries at all stages of processing. You will also receive copy documentation of everything sent to the client. If you give us permission to contact the client directly, Debt Deliverance will implement an automatic advising status changes and updates at every stage of processing. Introducer can also login to the online real-time case tracking facility to monitor the progress of their case 24 hours a day. Alternatively, you can choose to remain involved throughout the entire process. We will not contact your client without your permission, and will advise you of the best solution before any direct communications take place. Debt Deliverance will work in whichever way you choose.

11 Ways to submit business Online: Using our introducer portal By Phone: (Hot Key Transfer) Contact our Support team on to discuss any referral in principal. By Fax: Download the simple fax referral form from our online stationary cupboard and fax it through to us directly on Debt Deliverance will undertake a full fact-find to establish to entirety of the clients financial circumstances. A full evaluation of the fact-find is performed, and the introducer and/or client is contacted with recommendations. 2. Should the recommendations involve a Debt Management Plan or IVA the relevant paperwork will be sent to the client for signing. 3. Once the completed paperwork is returned. Debt Deliverance will contract all creditors to inform them that they are acting on behalf of the client. Then Debt management Plan (DMP): Debt management Plan drawn up and put into place. Debt Deliverance manage the plan through to completion, and arrange distribution of monthly payments to all creditors involved. Referral fees paid to the introducer on receipt of first monthly payment towards the DMP. Or Individual Voluntary Arrangement (IVA): IVA proposal raised and lodged at court, date for Meeting of Creditors (MOC) set (usually 21days from lodging proposal at court). Creditors meeting held. If IVA proposal is voted in favour, client is informed and monthly direct debit set up. If voted against, the meeting will be adjourned to a later date during which time Debt Deliverance will negotiate with creditors to modify proposal. Once accepted IVA enters supervisory period and referral fees paid to the introducer. Debt Deliverance will manage all distribution of payments to creditors.

12 The Facilities Do you have everything my client and I need? The most efficient online resources available in the debt solutions arena are brought to you by the award-winning marketing team at Debt Deliverance. We have everything but kitchen sink. We have developed the most advanced business-facing debt solutions website available to intermediaries in the UK. Debt Solutions Learning Zone Learn more about the market, products and the up-to-date government legislation surrounding the recommendation of debt solutions. Our online Learning Zone allows introducers to download documentation to give a in-depth explanation of the products and process involved in the provision of debt solutions. Our online Learning Zone gives introducers to Debt Deliverance all of the resource they need to self-regulate and ensure that all debt solution referrals are justified and documented. Online Technology Zone Introducers can promote their debt solutions more than ever before using the free marketing resources available through our online Technology Zone. These unique facilities have been developed to allow introducers to market their services both on the internet, as well as using more traditional methods such as leaflets, posters and direct . The wide range of templates available can all be personalized with your own logo and contact details, giving you a professional, consistent look throughout your marketing campaign. All marketing material is fully complaint.

13 Your Questions Answered General enquiries: How do I become an introducer to Debt Deliverance? Contact us for a commercial proposal today! Its simple. You can call us on and speak to a member of our Introducer Support Team. We will set up your agency straight away and advise you of your individual agency number. All you need to do is complete one of our Agency Agreements and return it to us. How will I get updates on how my referrals are being progressed, and keep track of the case I have submitted? You will be sent automatic case status update s at every stage of processing, and our Helpdesk is on hand on if you want to speak to the Support Team directly. Full case summaries, outlining all details of proposals will be issued to you regularly. You can also track all of your referrals on our real-time case-tracking system available at Weekly pipeline reports can also be sent via fax or your request. What if I want to stay involved all the way? This isn t a problem. Given the sensitive nature of all the provision of debt solutions. A large number of our existing Introducer prefer to keep in the loop and continue to have direct contact with their client throughout the entire process. We will only contact your client directly with your express permission, and if you want to present our recommendations yourself, we are on hand to give you all the information you need. How do I know that Debt Deliverance will give my client best advice? Debt Deliverance has historically championed the FSA ethic of treating customers fairly. You will be given a breakdown of all options available to your client so you can assist them in marketing the right decision. All advice given by Debt Deliverance is completely free with no obligation to proceed. How and when will I be paid my referral fees? Your fees are paid immediately on case completion. You can receive a BAC s payment directly into your bank account or Debt Deliverance will post you a cheque the choice is yours.

14 DMP Debt Management Plans What will the client have to pay? The repayment amount will depend entirely on your clients circumstances. It is a vital that your client keeps up with their regular monthly payments, or the creditors may cancel the agreements we have made on their behalf. We will work out an affordable monthly payment, based on their earnings and expenditure. Minimum payments are 80 per month. How long will the debt management plan last for? The DMP will stay in place until all debts have been paid in full. Due to the reduced payment levels, this may be longer than the terms of original credit agreements. How does my client know their debts are being paid? Once up-to-date balances from the creditors have been received, the monthly payment between them is pre-proportioned based on how much each creditor is owed. A statement showing how much each creditor will receive will be issued. This remains fixed unless the clients circumstances change. The client will be issued with a quarterly statement showing all transactions on their accounts.

15 IVA Individual Voluntary Arrangements: What debts can be included in an IVA? Normally, any unsecured debts can be included within the IVA proposal. This rules out mortgages and other secured loan repayments, and any items an hire purchase may be repossessed is payments can t be made. Can an IVA be settled early? Many IVA s and early with the introducers of a lump sum of money. Debt Deliverance can arrange a variation meeting to offer a sum of money in full and final settlement of the client s obligations under the IVA. This can be processed at any time during the IVA. Will my client lose their house if they enter into an IVA? No. the property is protected through an IVA, although the client may have to release some of the equity in the property towards the end of their supervisory period to pay the creditors. This is always agreed in the initial IVA proposal and can be deferred for up to 4years. Can The Client Get A Remortgage If They Are In An IVA? Yes. As long as the IVA is up-to-date then there are leaders that will offer a remortgage, although they may pay a slightly higher interest rate. Can My Client Pay a Lump Sum As Well as Monthly Contributions? Yes. Foe example, if your client cannot afford a larger monthly payment initially bur own their own home then Debt Deliverance can negotiate to pay a lower monthly contribution with a lump sum paid towards the end of the IVA. This can be arranged by way of remortgage. Any instances of remortgage requirements will always be highlighted and referred back to the original introducer.

16 Will everything work in practice? Case Studies Mr S had debts totalling he had recently got married and has bought a house for 112,000 with a 95% mortgage. Although he was looking forward to married life in a new house Mr S was struggling to pay the debts he has built up during the preceding ten years. His salary was not covering his liabilities and he was only meeting the minimum monthly payments and withdrawing cash to make ends meet. Clearly this could not continue and he sought the advice of his local Financial Advisor, Introducer M, who recognized immediately that Debt Deliverance could help. Introducer M visited the Debt Deliverance website and filled in the simple online referral form, giving us permission to handle the entire process on behalf of him and Mr S. Debt Deliverance assessed Mr S s income and expenditure and concluded that he could afford to pay 350 per month towards his debts. We presented his creditors with a proposal for an Individual Voluntary Agreement based on monthly income payments of 350 for five years. This provided a dividend of 46 pence in the pound and in April 2007 the Agreement was approved by his creditors. Mr S therefore paid 21,000 over the next five years in full settlement of his debts of 46,326. At the end of the five years Mr S will be debt free and he will be able to keep his house. Introducer M received a referral for of 500 in recognition for the works undertaken.

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