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Broker House

Broker House was established on the basis of a single idea; help people in debt find the right solution and provide that help until it is needed. They know that people in debt are already under enough stress and cannot even begin to figure out a solution. This is why Broker House works with their clients to wade through all the options and select the best one.

Broker House primarily deals with debt management plans, Individual Voluntary Arrangements and bankruptcy. They also provide advice on a range of additional topics.

The company’s website seems attractive at first sight but the novelty factor is quickly worn out. Navigation is very ineffective as no links are provided on the subpages and visitors will be frustrated to have to repeatedly go back to the home page. The images selected really do not reflect anything to do with debt apart from one which shows a credit card. This site generally does not convey a feeling of debt specialization as it is too generic in appearance.

While the presentation might need some work the content shared is of better quality. Their debt management services are standard as available with most other debt service companies. They work with your creditors to negotiate a lower monthly payment. While this might extend the term of the debt it means you can still keep up with payments. Additional benefits can include reductions or freezing of interest however, this is not guaranteed. By not taking out a new loan to repay the last, the chances of falling deeper into the credit trap are dramatically lessened. A number of the staff at Broker House have personally faced debt problems and are able to truly feel your pain and are motivated to help you.

An Individual Voluntary Arrangement or IVA is a legally binding agreement between you and your creditors that guarantees you will be debt free in approximately 5 years. This only holds true if you abide by the rules of the arrangement. An IVA is similar to bankruptcy but has lower long-term impacts. IVAs allow you to keep more control over your assets however if any are deemed excessive you might be required to sell them. You also have the ability to hold certain offices not allowed during bankruptcy. All charges and interest rates are frozen during an IVA.

Broker House will work with you to develop a proposal for you creditors proposing the best repayment offer that you are able to make in your current position. This proposal is then sent to your creditors and can only be accepted if creditors representing 75% or more of your debt accept it. Upon acceptance, all calls and letters from creditors are legally required to stop. Provided you keep to the proposed repayment plan, you will be debt free upon completion.

Broker House advises client to file for bankruptcy only as the very last resort. Your assets and property can be used to satisfy the debt. As a result of bankruptcy you are not able to old certain offices such as a Member of Parliament or Governor of a School.

The website also offers information for visitors who have concerns about their mortgage and repossession of their house. Steps are given on what to do if you miss your mortgage payment and how to find the perfect mortgage. Tips are also given on how to avoid your house being repossessed due to missed payments.

Additional information is provided about:

How to deal with Bailiffs and what they are legally allowed to do
Charging orders and what they mean
How to handle Community Court Judgments
Details of various laws in place to protect your rights
Default notices and how to handle them

The purpose of this review is not to decide which company is right for you but simply to provide information. All decision should be based on close personal study of the company.

Broker House provides services which cater to most people looking for help with their debt. However, a very basic website and no customer reviews or testimonials might turn some people away.

For more information on Debt Consolidation companys, go to Debt Consolidation.

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