Champion Finance
Champion Finance are financial brokers. Champion Finance have been established for over twenty six years and deal in all financial products that are available to homeowners. Champion Finance have access to all secured loans lenders. Secured loans can be used for all most any purpose but over the years many have taken out secured loans for debt consolidation.
Before the credit crunch many secured loan lenders were lending up to 125% of your property value but the best situation is 80% for employed and 75% for self employed.
Champion Finance also arrange remortgage and have access to the whole of the remortgage market. Champion Finance do not give advice on remortgages. Champion Finance can give you a choice of remortgage products for you to make your own decision and choice.
Debt Management – How Should I Do It?
If you can’t keep up with your debt repayments, then a debt management plan could be the right debt solution for you. Your lenders may agree to accept lower monthly repayments, based on what you can realistically afford. They may also agree to freeze interest and/or waive charges – although they are not obliged to do so. Debt management can be carried out in different ways: on your own, or via a debt management organisation which will organise a debt management plan for you. However, there are a few things you may want to consider before you get in touch with your creditors – or ask a debt management organisation to do it for you:
- If you change the way you repay your debts, you will be defaulting on your original repayment agreement. This will be shown on your credit rating for six years, which could affect the cost and/or availability of credit for that time.
- Creditors are not legally obliged to accept the new repayments terms, or stick to them once they’ve agreed.
- If you agree to repay your debts over a longer period of time, you may increase the overall repayment amount (due to interest).
- Lenders will not agree to lower repayments unless you can’t afford to make the agreed repayments to your debts.