Debt Connect (UK) Ltd | Terms and Conditions of Trading

Definition of Terms

You - Our client, as named in the accompanying documents, and their partner, where debts are in joint names.
Us/We - Debt Connect (UK) Ltd. Registered Office; Universal Square, Devonshire Street, Manchester, M12 6JH. Licensed by the Office of Fair Trading under Consumer Credit Licence Number 511240. Data Protection Licence Number Z5892528.
Creditors - Any and all of your unsecured creditors whose details you have provided us with, and have authorised us to act on your behalf with.
Debt Management Programme - A plan for repayments produced by us to repay your debt over an anticipated period of time.
Period - The period during which the Debt Management Programme is in operation.
Fees - The fees paid by you to us in accordance with the Debt Management Programme.

Services
We offer you advice on primarily debt related matters specifically geared to your personal requirements.
Where debt consolidation in necessary, we may refer you to one of our regulated associated firms, who would be responsible for the advice provided. We do not offer loans of any nature directly, but we may refer you to one of our associated firms if we feel that this is appropriate in your case.

Act
We prefer our client to provide written instructions for us to act on their behalf as this avoids disputes. We still however accept verbal instructions provided they are subsequently confirmed in writing.
Any advice we give you will normally be in writing, but if given verbally, this will be recorded on your files.

Fees
We offer you an initial consultation, free of cost and free of obligation.
Once you instruct us to begin acting on your behalf, an initial Administration fee equal to your 1st Monthly payment, subject to a minimum fee of £120.00, will become due, unless otherwise agreed.
Thereafter, a monthly management fee equal to 17.5% of your monthly agreed Disposable Income will be charged, subject to a minimum fee of £30.00, unless otherwise agreed.
If no payment is received from you for 90 days or over, we will charge a further Initial Fee when you rejoin the programme, and monthly management fees will apply thereafter.
In the case of weekly payments, your monthly fee will be calculated by multiplying your weekly payment by 52, and dividing the total annual payment by twelve, and will be charged at 17.5% of the resulting figure, subject to the minimum fee stated above.

Termination of Contract
Debt Connect (UK) Ltd offers a seven-day cooling off period, where-by our clients are able to obtain a full refund on any fees paid within the 1st 7 days of entering their Debt Management Programme.
After the 7-day cooling off period, if you wish to terminate, you must provide us with four weeks written notice.
We may prematurely terminate your contract by giving you 4 week’s notice if any of the following happens:
• You breach this agreement and do not remedy the breach within seven days of our bringing the breach to your attention
• A bankruptcy petition is issued against you
• You enter into and Individual Voluntary Arrangement / Trust Deed
• Where the information provided to us in knowingly incorrect
• The information provided by you at the time of acquiring a loan (HP agreement, credit cards or any other form of credit) is deemed incorrect or fraudulent by any creditor, or
• If we are affected by Force Majeure
If your account becomes inactive with ourselves, and we are holding funds that we were unable to distribute to your creditors, we will return them to you. Where we have made reasonable endeavours to contact you to make a refund, then after 6 months we reserve the right to retain any funds outstanding in your account.

Data Protection
Personal information supplied by you will be used for the purpose of completing transactions on your behalf. It may also be stored on paper or computer records and may be used for statistical purpose by members of the group of companies to any regulatory authorities or auditors for the purpose of compliance. We may send it in confidence for consideration to other companies such as your creditors.
We will supply on request to you or your appointed agent, copies of entries in our records, relating to your transactions. We undertake to maintain such records for one year from the date of each transaction.

Late Payments
Late payments of management fees may incur charges being levied by your creditors directly onto your account.

Confidentiality
We will treat all of your personal information as private and confidential, even when you are no longer a customer. However, we may disclose details to the regulatory authorities and auditors for the purpose of compliance. If requested, we may also have to disclose your information to your creditors.
You have a right of access, under Data Protection Act Legislation, to your personal records held on our files

Credit Reference Agencies
These are organisations, licensed under the Consumer Credit Act 1974, which hold information about individuals, which is of relevance to lenders. Lenders may refer to these agencies for information that may assist them with making various decisions, for example whether or not to provide a mortgage loan, credit card, personal loans etc. The enquiry they make may also be recorded on your file at a Credit Reference Agency and may affect your credit rating.
Details of the conduct of your account may be passed to a credit reference agency by the institute if your repayments fall into arrears. By taking some of our recommendations it may be possible that your credit file could be affected.

Debt Connect (UK) Ltd Registered Office: Universal Square, Devonshire Street, Manchester,  M12 6JH. Registration No. 4296391, England VAT Registration Number 807 5404 39. Licensed under Consumer Credit License Number 511240.