Monday, February 04, 2008

Leading debt management expert, EuroDebt Financial Services, is launching a nationwide tour of educational seminars to provide mortgage brokers and financial advisors with advice and support on the benefits of debt management for clients in severe financial difficulties. 

Since launching its Partner Programme in November 2007, EuroDebt has signed up a number of financial advisors and mortgage brokers as EuroDebt Introducers.  But, as Kevin Still, Director, EuroDebt Financial Services explained, there is still limited understanding amongst the broker market of the value of debt management as part of their service proposition.

“With consumer debt at an all time high, mortgage brokers and financial advisors are dealing with large numbers of clients suffering from unmanageable debts where, in many cases, re-mortgaging is simply not an option. For these clients, a EuroDebt debt management programme provides an extremely viable financial alternative to an IVA or bankruptcy.  However, what we are finding is that many brokers and mortgage advisors have limited understanding of how debt management can work for their clients – and how it can benefit their own business.

“It is also crucial that there is greater understanding of the provisions of the Mortgage Code of Business, notably MCOB 4.7.6 in relation to where a client is known to have payment difficulties. There will undoubtedly be a situation where it would be more appropriate for the client to take professional debt advice and then negotiate an arrangement with their creditors rather than to take out a regulated mortgage contract, if indeed this is feasible.”

EuroDebt is, therefore, touring the country during February and March to provide IFAs and brokers with the opportunity to find out more about the EuroDebt proposition and improve their understanding of the role of debt management versus IVAs and bankruptcy.

Each EuroDebt Education Seminar will start at 10am, providing an insight into debt management and including an expert panel question and answer session to give brokers the opportunity to find out more about how it can fit into their service proposition, followed by a networking lunch.  Entry is free for mortgage brokers and financial advisors and events are taking place as follows:

• 21st February   Sandy Park, Exeter
• 27th February  Holiday Inn, Harrogate
• 28th February   Crowne Plaza, Chester
• 4th March   Hilton Metropole, NEC Birmingham
• 5th March   Holiday Inn, Newport
• 11th March   Holiday Inn, Fareham
• 12th March   Hilton, Dartford Tunnel
• 13th March   Holiday Inn, Maidenhead/Windsor

The EuroDebt Debt Management Plan is designed to focus on finding the right debt solution for an individual through a highly personalised service, including an initial face-to-face meeting. And working closely with individuals to create a proactive plan to deal with defaults and court actions, EuroDebt helps clients manage their debts and take control of their finances. The EuroDebt Partner Programme offers IFAs and mortgage brokers a chance to offer this expert support to their clients, bringing them added value and a lifeline out of financial hardship.

“Debt management can provide an attractive alternative to bankruptcy or an IVA for individuals who don’t want to put their home or work at risk” confirmed Kevin Still.  “It can, therefore, play a crucial role in enhancing the customer service for intermediaries as well as providing a revenue stream.”

Source: http://www.introducertoday.co.uk/News/