Informal Repayment Plan – Informal Route
Informal Repayment Plan - This is a very informal agreement between the citizen and creditors. This agreement just like the IVA route sets out how much disposable income is available to the Citizen on an monthly affordable basis, and based on the disposable income this is what the creditors will receive. FCH advises all citizens that before you fall further in debt and receive more and more creditor pressure, its vital that you take immediate action. If you are struggling to make the necessary minimum payment
requirements to your creditors and can foresee that your debt is becoming out of control, FCH can make monthly payment arrangements that are realistic and affordable to you all based on your disposable income. One of the Specialist Financial Advisers will contact all your creditors and negotiate reduced monthly payments to fit within a budget that is most affordable to you.

The Informal payment plan is a very simple plan that can be offered to anyone with financial stress and pressure. Once you’re disposable income has been confirmed, all your creditors can be contacted and offered pro rata payments on the accounts. It is extremely important that any negotiations of payments are done by your dedicated financial adviser as the creditors have a right and are under no obligation to stop adding interest onto your accounts and adding late payment charges. Should you fail to keep up with your
monthly payments, your creditors have every right to continue and proceed with legal action.

FCH financial advisors offer the following:
• Re-prioritize your finances into Priority & Non Priority debts
• Transform all your unsecured credit commitments into one monthly   affordable payment.
• Negotiate with your creditors to reduce or freeze interest charges on your   accounts. Most creditors will do this providing there is no payment break in   your plan although they are not obliged to.
• Preparation of a regular and stable payment plan.
• Provide you the most suitable professional financial advice from 9am to   9pm on a daily basis.