DFH have been helping people with their debts for over 15 years and are currently helping around 9,800 people manage their debt. We pride ourselves on a high level of customer service and expertly advising on a range of debt management solutions. DFH is regulated and authorised by the Financial Conduct Authority for commercial consumer credit related activities.
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Debt Arrangement Scheme Advantages and Disadvantages
You will get to make a lower, more affordable offer of payment towards your unsecured debts, making them more manageable.
Interest and charges on your debts will be frozen – meaning they won’t grow even though you’re repaying over a longer amount of time.
Your creditors will not be allowed to continue to chase you for the money you owe them provided you maintain payments through the Arrangement.
An approved Money Adviser will guide you through the process and negotiate with your lenders for lower payments on your behalf.
You will not be allowed further credit while on a Debt Arrangement Scheme.
If your Debt Arrangement Scheme fails, your creditors may request to have you sequestrated (Scottish Bankruptcy). This is unlikely, however this will always be discussed before your Arrangement commences.
By entering in to a Debt Arrangement Scheme your credit rating will be affected as you will no longer be maintaining contractual payments to your debts and therefore have defaulted on them. This will affect your credit rating for up to 6 years following completion of the Arrangement and will therefore affect your ability to obtain credit no and in the future.
I can never thank DFH enough for giving me hope and a future, free from debt.
Registered Office Bridgewater House. 58-60 Whitworth Street, Manchester, M1 6LT Registration ZA084901. Company Registration 7556890. Registered in England and Wales. Bridgewater Support Solutions Ltd is authorised and regulated by the Financial Conduct Authority(FCA), firm reference number 669218. DFH and 'DFH Financial Solutions' are trading names of Bridgewater Support Solutions Ltd. The guidance and/or advice contained within the website is subject to the UK Regulatory Regime and is therefore primarily targeted at customers in the UK.
The Financial Ombudsman Service (FOS) is an agency for arbitrating on unresolved complaints between regulated firms and their clients. Full details on the FOS can be found on its website at www.financial-ombudsman.org.uk.
*9,881 clients as of 04/05/2021.
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