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Informal arrangements

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If you are looking for a short-term solution to your financial difficulties, an informal arrangement might be the way forward. At Streets SPW, we have over half a century of experience, so you can rest assured you are in the hands of experts.

As part of the informal arrangement process, Streets SPW will negotiate with your creditors to resolve a short-term debt problem. This can give you some much-needed breathing space and time to get your finances back on track.

How does an Informal Arrangement work?

Acting on your behalf, a partner from Streets SPW will contact your creditors and ask them to accept regular, affordable payments to help clear your debts. It should be noted that the arrangement is non-binding and your creditors are not obliged to accept it. However, because the team at Streets SPW is dedicated to helping you regain control of your finances and has extensive experience in this area, we will work hard to arrange a solution that that is acceptable to all parties.

Informal arrangements mean you are responsible for making all payments as agreed with your creditors and you need to make us aware of any changes in your circumstances so we can inform them. For example, we may be able to negotiate lower payments if your business is going through difficult trading conditions. Should your circumstances improve, your creditors can also ask for increased payments towards your debts.

Setting up an informal arrangement can be an effective solution to your money worries but we strongly recommend seeking our advice to decide whether or not this is the best option for you.

Speak to one of our dedicated team and arrange an initial consultation to see whether informal arrangements can help you get your finances back on track.

 

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