Our fees and what we will do next

Each individual will have different circumstances and creditors for us to deal with and not everybody’s debt plan will have the same amount of work involved. Any costs incurred are paid over a period of time.

A typical plan costs £495 but solutions vary and this may not be the actual cost to you. £25 average per Month is a tracking fee and covers the items listed below We as a company are completely transparent about how much it costs to provide our service and how much it will cost to administer your plan.

Even though it is likely we will stop interest and charges and get significant debt reductions for you, we do not promise this.

The charity Money Advice Trust and the BBA British Banking Association have issued guidelines to debt advice centres and charities on recommended budget figures, which are adhered to by R & R Financial Solutions.

They are referred to as trigger figures and determine what are reasonable costs that people can live on. Because we follow these guidelines it means that your creditors are much more likely to agree when we negotiate with them.

There are charities and institutions that offer free debt advice but the ongoing work involving paying and dealing with your creditors is left for you to deal with.

A brief outline of the work we will do once your file arrives.

Step1: Your creditors will be contacted by letter immediately after your file has arrived at the office. We will ask your creditors to note on their files that you have instructed R & R Financial Solutions to deal with your financial situation. We also request from your creditors a current up to date balance of your account and ask that further interest and charges are stopped. Within a period of 3-6 weeks (allowing time for your creditors to reply with outstanding balances) we will commence negotiations with your creditors It is at this time that we make token payments to your creditors as a gesture of goodwill to show them things are moving in the right direction. We will also call and write to let you know your file has arrived and that our experts have confirmed that the solution is correct. It is at this time we can answer any further questions you may have.Creditor negotiations will begin and will be ongoing.

 Step 2:Disbursements–We will call you and discuss your SOA and make any amendments, you will then receive a draft copy of your statement of affairs: Note: This must be returned to the office, signed with any alterations you may have made clearly marked.

Please ensure that this document is sent back to our office as quickly as possible. This will improve the level of service to you and your creditors.

Once we have received the SOA we will then confirm to you how much your Single Payment Plan is, when the payments will commence and we will send you a new standing order mandate for the agreed amount. The payments will then commence of the agreed affordable amounts to your creditors via us.

Once we have received your SOA (Statement Of Affairs) we will then confirm how much your single payment plan is, and when the Payments will commence we will then send you a new standing order mandate for the agreed amount. Payments to your creditors will then commence.…..

We will send you Monthly statements so that you can see each payment made.

We will carry out a Review every six months to Provide further advice and ensure the success of the arrangement.  

We estimate for an average client that we will have sent to them & the creditors in a 6 month period approx 74 sets of correspondence and if you think that a bank or solicitor might charge a min of £30 per letter that would be £2,220

The time scales of the agreements vary from creditor to creditor however agreements are usually in place within the first three months of negotiations. It is at this point that you may receive demanding letters, these are automatically printed and until we have finished negotiations with your creditors it is only then that your details will be removed from the billing computers database.

If you are proposing an IVA (Individual Voluntary Arrangement,

Please refer to brochure “What is an IVA” and it will outline in more detail the process we will be going through on your behalf under the heading WHAT HAPPENS NEXT.

If creditors contact you, DO NOT get into long conversations with them:

Do Not Hesitate To Contact Us With Any Queries

Our aim is to work for you and not for your lenders.

We’ve been helping clients with financial problems for years, and we can use that wealth of experience to find a solution.

Whatever you’re going through, whether you think it’s a big or a small problem, don’t bottle it up. We’re here to help you – just call us now for free 0800 9887 007 – or fill in the simple online form.

When you contact us, we will listen to your situation, and if you qualify for our help, we’ll arrange a free, confidential, face-to-face appointment with an expert consultant who will explain your options in detail.

Don’t worry if you don’t qualify for our help, we can point you in the right direction

And remember – all this help and advice is absolutely free.

We want to help you towards a debt-free, stress-free life.

Your problem – is our problem. Because we really do care about finding the right solution for you.

So call us today 0800 9887 007, or fill in the contact form. Professional face-to-face debt advice from R & R Financial Solutions is your first step to a brighter, happier future.

Our friendly advisors can visit people with debt problems, and provide free, face-to-face advice. Our advisors are trained to find you the best solution, and unlike some large providers, we concentrate on your needs; not the needs of your creditors. We can't promise to help everyone, but we will do our best to find you a debt solution that lasts.

The outstanding feature of R & R from a customer point-of-view is the personal advisors who visit customers in their homes, providing free insolvency advice and a debt assessment, and offering debt management or IVAs where appropriate. We do our best to hold your hand through the entire process, so you can leave it to us and start living a life free from debt worries! Please phone us if you are worried about your debts; call free 0800 9887 007.