Atlantic Financial Management


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Dealing With Debt - 5 Things You Should Know

1. There are sources of free debt advice and services.

You can find out more by contacting the Money Advice Service on or 0300 500 5000 (8-8 Monday to Friday, 9-1 on Saturday).

2. You should have been advised on all the options for dealing with your debt.

Atlantic advisers will explain all the options that are open to you (e.g. bankruptcy, a debt relief order, individual voluntary arrangement, debt management plan, self-management, refinancing). The advantages and disadvantages of each will be discussed with you so that you can make an informed choice. We will supply you with a copy of The Insolvency Service 'In Debt? Dealing with your creditors' booklet.

3. You will know the estimated total cost to you of the arrangement and the time it will take for your debts to be paid.

Atlantic advisers will provide you with this information. Any money you pay to Atlantic to cover your fees will not be used to repay your debts. There should never be a situation where more money is being used to pay Atlantic than your creditors.

4. Your provider will go through a full and accurate budgeting process with you.

This is vital to make sure that the payments you are asked to make are affordable for you and fair to your creditors. Atlantic uses an industry recognised budgeting process called the Common Financial Statement.

5. If you are not happy with the service you receive, you can complain.

You should refer such complaints to Atlantic first to give us a chance to put things right. We will inform you clearly how to do this. If you are still not happy with the outcome, you can complain to the Financial Ombudsman Service which is an independent service who will look into your complaint and can award you compensation if they decide in your favour. Our complaint policy can be found on our website detailed below.