What Is Credit Counseling, What Is Debt Consolidation, What Is Restructuring Plan

What is Credit Counseling?

Acknowledgement of Debt is itself a victory and a path to debt elimination which begins by taking help from professional counsellors. We possess compassion and expertise in dealing with unique cases requiring continuous support and guidance.

What is Debt Consolidation?

 Combine multiple liabilities into a single repayment loan and increase your savings through interest rate reduction.

 Obtain benefit from reduced interest rates through consolidation of expensive past debt.

 Debt Consolidation is a one-time solution to get out of debt and not to borrow more.

Debt Consolidation Program
Current Payments Credit Card 1 Credit Card 2 Credit Card 3 Personal Loan Auto Loan Total Debt Consolidated Loan
Current Balance 50,000 100,000 100,000 150,000 100,000 500,000 500,000
Monthly Repayment 2,500 5,000 5,000 4,500 2,000 19,000 12,000
Monthly Repayment Reduction 7,000

Monthly Repayment reduction from 19,000 to 12,000 thereby reducing the DBR and increasing the savings.

How Long does a counselling session take?

The discussion can be conducted over the phone or face to face and lasts about an hour. The information gathered during the session remains completely confidential. Solutions provided vary on a case to case basis as we do not apply a one size fits all approach.

What is a Restructuring plan?

Our professional coaching and counseling sessions assist our clients to stick to a budget and come out from the shackles of debt. We approach Banks and Financial Institutions in UAE on behalf of our customers to consolidate their debts by lowering the existing rate of interest thereby reducing their monthly financial obligations. Our Debt Settlement offerings result in reduction of monthly financial burden.

How early or late is it to obtain Debt Counseling?

The earlier the better as creditors appreciate the fact that you are trying to take corrective action before it becomes a major problem.

How long will it take for me to clear the credit cards outstanding?

The minimum payment of credit cards usually requires 10 years to clear off the card debt due to the high rate of interest as a percentage of the minimum amount. Our Debt Management program are structured to make you debt free in 3 years.

What are the charges for the counseling services?

Our fees are based on the value provided and the financial benefit gained in the long term. Our Professional Fee for the engagement is based on the number of hours required to handle the case and varies on cases to case basis.

 (50%): In advance, upon signing the engagement agreement

 (25%): Upon submission of the restructuring proposal to all banks following prior negotiations with them.

 (25%): Upon obtaining the restructuring approvals from all Banks.

What types of debts are eligible under this program?

 All unsecured high interest debts such as Credit Cards and Personal Loans.

 Secured Loans like Auto Loans and Mortgage loans for Conventional and Islamic Banks.

 Business and SME loans with or without collaterals.

 Full and Final Settlement of Personal and Commercial liabilities through Debt Consolidation, Restructuring and loan takeover.

Will this help in improving my profile in the Credit Bureau?

The Debt Management Programs are structured in a way so as to reduce the debt burden ratio and remain within the Central Bank of UAE guidelines thereby improving the credit score.

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