Yes, of course. You can cancel at any time without any further charge.

What would happen to the money held for distribution if I cancel?
Any monies you have paid us which we have not yet distributed would be refunded back to you.

How can I contact Clark Richards?
Our experienced Debt Advice Specialists are on hand from 8am – 10pm Monday to Friday, simply call free on 0800 988 3359, alternatively you can Apply Online and we will call you straight back.

Do my creditors always accept the reduced payment offers?
Creditors do not have to accept any offer of repayment below the amount stated in your contract. However in our experience they are generally prepared to accept reduced repayments as long as we are able to demonstrate that you are dedicated to repaying your debts by use of our Debt Management Plan.

What if my creditors continue to contact me directly?
In the first couple of months of the plan your creditors may continue to make attempts to recover your debts. We advise you to deal with all calls politely and simply inform the creditors that you have instructed Clark Richards to act on your behalf. It is important to forward any letters you receive to us and we will deal with them.

Will my accounts go into default?
The majority of creditors will merely add an arrangement notice to your credit profile. Some creditors may choose to put the account into default. This however will only be the case if you fail to keep up to date with the agreed monthly repayments set out in your Debt Management Plan. Will the plan affect my credit rating?
The Debt Management Plan will not have any great affect on your credit score if you have already missed repayments. We would like to think that in the long term the plan will allow you to get up to date with your repayments thus dramatically improving your credit score.

Will my creditors be prevented from taking further recovery action?
There is no guarantee that your creditors will not take further action, this may including court action to recover debts. If this situation does arise we will endeavour to ensure that any amount set by the court is within your set monthly payment.

If I have any CCJs will I be able to include them in the plan?
Yes of course. The Debt Management Plan can incorporate payments against any existing CCJs that you may have.

Can I take out a plan if I am a homeowner or tenant?
Yes you can. It doesn’t matter what you residential status is. You could be a tenant, homeowner or even living with your parents.

Must I be employed full time?
No. To take advantage of one of our tailored Debt Management Plans, you just need some available income after you basic bills i.e. Rent, food, petrol, utilities, ect.

Do I have to tell my partner?
No. Although we would recommend that if you do have a partner you should let them know what’s going on. If you have shared debts and/or you need partner’s income to be taken into account then they must be informed.

Will the Management Plan cover all of my debts?
No. A Debt Management Plan will only cover unsecured debts and arrears.

Will this be a loan?
No. We will not arrange a loan or run a credit check. The Debt Management Plan will allow you to repay your creditors with a monthly payment that you can afford.

What is the difference between a secured and unsecured debt?
A secured debt is a debt secured against an asset that you own. Typical secured debts will be a mortgage, a secured loan, a car loan, etc. An unsecured loan is any loan not secured on an asset, such as a bank overdraft, a personal loan, a credit card, store card, etc.

Will you run a credit check?
No. It is not required because we will not be lending you any money.

How much will the Debt Management Plan cost?
We charge a one off set-up fee for setting up your plan. For this we take a small proportion out of your first three payments to ensure that your creditors receive money from us as soon as possible. We then take a monthly management fee equal to 14.9% of your monthly payment. The minimum monthly fee is £25 and the maximum is £90. You will be informed in detail of all costs in advance.