For individuals and couples who feel that they are in financial difficulty and require professional assistance, we undertake holistic debt advice over the telephone to establish your circumstances and the most appropriate debt remedy that suits your circumstance and preferences allowing you to make an informed choice. How you want to communicate with us is entirely your choice.
We are a member of the Debt Managers Standards Association (DEMSA), whose code of practice is approved by the Trading Standards Institute (TSI).
The financial review includes:
|Debt Solution / Jurisdiction||England & Wales||Scotland||N. Ireland|
|Self-management (self cure)|
|Debt Management Plan (DMP)|
|Debt Arrangement Scheme (DAS)|
|Debt Relief Order (DRO)|
|Individual Voluntary Arrangement (IVA)|
|Protected Trust Deed|
Each of the relevant debt solutions above will be confidentially discussed by the debt adviser over the phone at a time to suit you. In some instances the ultimate debt solution may be offered by an independent third party provider (e.g. a DRO competent authority for a Debt Relief Order or an Insolvency Practitioner for an Individual Voluntary Arrangement) and this will be made absolutely clear if you request that we refer you to a specialist provider.
We will make clear where fees are involved and where there are not-for-profit firms or charities that may offer an equivalent product or service where there a no direct costs to you. With regard to the provision of Debt Management Services, Atlantic has been granted the Debt Management Protocol Badge and operates to the obligations set out in the Debt Management Protocol, which is a voluntary code agreed between leading associations for debt solution providers, UK lenders and debt recovery agents.
We will discuss impartial sources of information, such as The Insolvency Service booklet 'In debt? Dealing with your creditors'. This can assist you in making an important choice regarding regaining control of your finances and the nature of the on-going support that you need, including the method of delivery of this advice and support, for example; face-to-face, over the phone or on-line.
You will always be given the right of a 14 day cooling off period should you decide to withdraw from a debt solution with Atlantic. We offer a clear cancellation and refund policy.
All clients of Atlantic are given free access to their Experian Credit Report through Experian’s CreditExpert. For those clients that start a Debt Management Plan (DMP) with Atlantic then we offer unlimited access to your on-line Experian Credit Report during the set-up of the plan.
Our aim is to provide an accurate assessment of your financial status from the outset of our relationship and to assess you vulnerability to identity fraud and irresponsible credit marketing.
Key aspects of your credit file:
For PPI reclaims, the report will also show where compensation has been delivered by a creditor where this has resulted in balances being written off or the agreement being re-written as if no PPI had been sold in the first instance. This may take the form of reduced balances and reduced payment terms. There are rules that lenders need to comply with in reporting your data. The Experian CreditExpert service provides access to a fantastic information resource and support facility for you to challenge or correct your data if it is not being reported against these agreed rules and/or doesn’t comply with the principles of the Data Protection Act 1998.
Where you are in a debt solution with Atlantic then we want to ensure that the responsible action you have taken in seeking professional debt advice and debt relief is properly reflected in your credit report against the rules and data sharing schemes that the lenders have subscribed to. Credit Reference Agencies (CRAs) gather and record financial and publicly available information about you. Four out of five adults in the UK have some form of credit history, having taken out a personal loan, credit card or an alternate form of credit. This information is then supplied to lenders and other organisations to assist them in establishing an individual’s identity, credit history and current outstanding credit or debt, if the individual has broken the contractual terms of the credit agreement.
Where you have entered a debt solution like a Debt Management Plan (DMP) then this should be properly reported on your credit file at a credit agreement level. An IVA is public record information and will also appear on The Insolvency Service public register and as distinct record on your file like a CCJ.
Atlantic welcomes three specific clauses under the creditor standards in the Debt Management Protocol that, when implemented from October 2013, will prevent consumer detriment, including suppression of further enforcement action once a debt solution has started and been notified to the respective creditor by Atlantic:
A consequence of entering a debt solution is that you shouldn’t be seeking further unsecured credit, like payday loans. This forms part of the commitment to Atlantic and your creditors that you are taking a responsible position to repaying your debts and control of your finances.