Before the credit crunch many secured loan lenders were lending up to 125% of your property value but the best situation is 80% for employed and 75% for self employed.

Champion Finance also arrange remortgage and have access to the whole of the remortgage market. Champion Finance do not give advice on remortgages. Champion Finance can give you a choice of remortgage products for you to make your own decision and choice.

Due to the dramatic changes in the secured loans and mortgage underwriting Champion Finance also offer debt advice as there are a lot of applicants that do not qualify for a secured loan or a remortgage but have a lot of outstanding debt that they can not afford and situations like this Champion Finance will offer debt advice.

Champion Finance offers all financial solutions for homeowners they offer unsecured loans, secured loans, remortgages and debt advice. Champion Finance will search the whole remortgage market in the matter of seconds and also the secured loans market place.

For more information Champion Finance can be contacted on 0800833396 or website http://www.championfinance.com

When would debt management be suitable?

On the whole, debt management may be the most appropriate debt solution if:

• Your debt is less than around £15,000 – which is the minimum amount usually required to qualify for an IVA.
• Your disposable income is less than around £200 per month – which is the typical amount for monthly payments on an IVA.
• You have been unsuccessful in obtaining a debt consolidation loan or a remortgage (possibly due to the current economic climate).You can afford to repay your debts in less than 5 years – which is the duration of most IVAs.

When would debt management be unsuitable?

Debt management could be unsuitable if:

• You won’t be able to repay your debt within a reasonable amount of time.
• Your income isn’t fixed – this could be the case if you are self employed and/or earn commission-based pay.

How could you enter a debt management plan?

Debt management can be done on a ‘do it yourself’ basis. However, you will need to be prepared to put in the time and effort required to manage your debts and negotiate with your lenders (perhaps on more than one occasion). Or you could enter a debt management plan through a professional debt management organisation. This way, you will benefit from the knowledge and experience that the right organisation will have. The organisation should be used to negotiating with creditors, an may have already handled situations similar to yours. No matter which way you choose, lenders will only agree to the new repayment terms if you can’t afford to make the repayments on your current agreements. If you want any more information on debt management, you should seek debt advice from a professional debt adviser

When would debt management be suitable?

On the whole, debt management may be the most appropriate debt solution if:

• Your debt is less than around £15,000 – which is the minimum amount usually required to qualify for an IVA.
• Your disposable income is less than around £200 per month – which is the typical amount for monthly payments on an IVA.
• You have been unsuccessful in obtaining a debt consolidation loan or a remortgage (possibly due to the current economic climate).You can afford to repay your debts in less than 5 years – which is the duration of most IVAs.

When would debt management be unsuitable?

Debt management could be unsuitable if:

• You won’t be able to repay your debt within a reasonable amount of time.
• Your income isn’t fixed – this could be the case if you are self employed and/or earn commission-based pay.

How could you enter a debt management plan?

Debt management can be done on a ‘do it yourself’ basis. However, you will need to be prepared to put in the time and effort required to manage your debts and negotiate with your lenders (perhaps on more than one occasion). Or you could enter a debt management plan through a professional debt management organisation. This way, you will benefit from the knowledge and experience that the right organisation will have. The organisation should be used to negotiating with creditors, an may have already handled situations similar to yours. No matter which way you choose, lenders will only agree to the new repayment terms if you can’t afford to make the repayments on your current agreements. If you want any more information on debt management, you should seek debt advice from a professional debt adviser