An FSA is a repayment agreement between your creditor and yourself. It is a legally binding agreement and helps you pay a reduced amount to your unsecured creditors once a month. This enables you to only pay a part of your debts over the course of the FSA, which can last up to five years.
With the FSA agreement you need to be in €15,000 of debt (loan debts, bank debts, credit card debt etc), if a FSA is right for you it can be a great way to save you massive amounts of money. So don't hesitate get in touch today.
During this time your creditors have to freeze the interest and payments charges on any outstanding debts.
The creditors are then not allowed to make or attempt to make contact with you regarding the remaining debt. All correspondence must pass through an assigned Insolvency Practitioner's office, according to the strict terms of each FSA.
Your monthly repayments through the rest of the FSA are calculated based on what you can realistically afford during the term of the agreement.
After the FSA has been successfully completed, any outstanding debts must be written off by the creditor. As much as 65% of the debt can be wiped off, leaving you completely debt free, and solving all your debt problems.
Complete our request a FREE call back form and one of our experts will call you to discuss if FSA and your debt problems. We guarantee a response within 24 hours.
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