Debt Solution Methodology

Debt Solution Methodology

All Debt Solutions should be very carefully considered. Fees will be charged if a solution is taken in order for us to set up your plan and maintain it. All fees will be outlined during your consultation. For further information on fees, please see relevant section of the different solutions available. FCAL complies with the Consumer Credit Act and you have the right to a cooling off period of 14 days. It is likely that your ability to obtain credit in the short term will be affected and this may also be the case over the medium to long term.


As per the inquiry about the outstanding debt problems First Credit Advice Limited will review the information and assess if one is eligible for our services. We shall use the in-house questionnaire for accessing the eligibility to obtain our services against the creditors. We will also make a draft income and expenditure statement and the list of creditors.

Pre-Contract Information

We shall send following documents to client initially

Signing Up

We shall call the client at their convenient time to review the debt solution options available over the phone and will discuss in detail the pros and cons of every solution. If one opts and qualifies for Debt Management or IVA then will provide you contact information of our affiliated firm ‘The Debt Advisor ltd’. For all the other solutions (CCAO, DRO, Bankruptcy) we shall direct the client to the appropriate authority for seeking help. However, if a client qualifies the eligibility test and want to take on our services for reduced monthly settlement negotiation, we will then send the following documents:

  • Client Care Letter
  • Letter of authority
  • Contract
  • Income and expenditure statement


After receiving the signed Contract, Letter of Authority and signed income and expenditure statement we shall send invoice to the client.

In-House Process

On receipt of payment we shall start the case officially. We shall finalize the budget statement by carefully considering all the incomes and expenditures with proofs of any item which we consider necessary.

Making Offer to Lenders

We shall make repayment offers to the lenders based on the pro rata distribution of the surplus income.


Updates will be taken on day to day basis from the lender and will be provided to the client either in written format or over the phone.

Annual/Periodical Reviews

We shall conduct periodical reviews of the financial circumstances at least once annually.