Debt Advice Network is a recently established charity that offers free advice to individuals who are experiencing debt problems. It has established links with affinity groups such as local authorities and trades unions. Where appropriate, clients are referred to one of Debt Advice Network’s affiliated advisers for help in finding a solution to their financial problems which could include a Debt Management Plan, a remortgage or a secured loan to help release some of the capital in their property. The appointment of Complete as Debt Advice Network’s first packager/ distributor will enable the charity’s advisers to have access to Complete’s extensive panel of mortgage and secured loan lenders.
Tristan Pile, sales and marketing director of Complete, commented: “The Debt Advice Network is providing an innovative service to individuals experiencing debt problems, and it offers pragmatic solutions to help prevent evictions and repossessions. In particular, the charity aims to call on the expertise of mortgage advisers and it is building a fast-growing network of members to whom it can refer clients that may benefit from a Debt Management Plan, IVA or the re-financing of debt into a shared ownership secured Government scheme thereby allowing the charity's own resources to concentrate on helping less viable cases. At Complete, we are able to provide access to appropriate lenders and help the Debt Advice Network’s members with all the product information they may need. In addition, our considerable experience in the industry can help to achieve a faster, more satisfactory solution for the client than many individual brokers could hope to achieve on their own.”
Jo Anido Tasende, Chair of Trustees of Debt Advice Network said: “As the current financial situation continues to deteriorate, we are experiencing a huge surge in demand for our independent non profit making debt advice services. Currently, it is estimated that four million homeowners are paying their mortgage with credit cards, unemployment has reached a seventeen year high, and 1.7 million borrowers have missed mortgage payments. Our experience shows that many individuals who have current debt problems may also have a good proportion of capital tied up in their properties. If this capital can be used in the re-financing of the debt into a shared ownership secured Government scheme it can provide the breathing space needed to make a fresh start. If this solution is not viable it may be that the client would benefit from a Debt Management Plan or an IVA. We are delighted to welcome Complete as the first of our limited panel of mortgage packagers, to provide extra support to our network. The Debt Advice Network now has a membership of 100 mortgage advisers and we are looking to limit this to 200. If you are interested in finding out more about the benefits of membership you can visit www.debtadvicenetwork.org/join
