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“We are extremely satisfied with the level of service and professionalism combined with a friendly attitude of all the staff we spoke to, and would like to thank everyone at Harrington Brooks very much.”
Mr and Mrs B, Liverpool
“We were really pleased with the efficient way that Harrington Brooks handled our enquiry and by the speed in which our mortgage was finalised.”
Mr and Mrs S, Birmingham
“I found the staff at Harrington Brooks were all very polite, helpful and understanding. I couldn’t fault the level of service we received from start to finish.”
Mr J, Warrington
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A jargon busting list of the terms you need to know.
Arrears
Missed payments, late payments or a failure to pay the full amount you owe on a loan or credit agreement will see you fall into arrears, potentially leading to a County Court Judgement.
Bad Credit
Bad credit is simply any loan that has been unpaid for a period determined by the lender. It can be referred to as Poor Credit.
Black Listed
People with a poor credit history could be susceptible to notes against their accounts, indicating that they are viewed as a big risk to financial institutions. They're likely to only receive credit at a high interest rate.
County Court Judgments (CCJ)
DCounty Court Judgments are decisions handed down by County Courts in England and Wales. They're entered on the Register of County Court Judgments, which credit reference agencies check to assess an individual's credit-worthiness.
Debt
Debt is simply the amount of money that you owe to lenders.
Debtor
The debtor is the person that owes the money.
Debt Consolidation
This tends to be a single loan that is used to pay off a multitude of outstanding unsecured debts. Normally, you pay a lower monthly amount over a longer period.
Debt Management Plan
A debt management plan is a repayment scheme which helps individuals to manage their debt.
Deed of Arrangement
A deed of arrangement can be used by an individual to clear creditor debt and is an alternative to formal bankruptcy. Where this method has fallen from favour, the Individual Voluntary Arrangement has grown in popularity.
Default
This means that you are more than 30 days behind with your repayments. This could lead to further legal action.
Default Notice
Creditors issue default notices to debtors as notification that the company will be starting legal proceedings in order to recover their money.
Early Repayment Charge
Early repayment charges, sometimes referred to as a settlement charge, are additional charges imposed if you pay off your loan or a mortgage early.
Impaired Credit
People who have a poor credit rating could be said to have impaired credit if they've been struggling with repayments or have been declared bankrupt.
Individual Voluntary Arrangement or IVA
An Individual Voluntary Arrangement (IVA) is a formal alternative for individuals wishing to avoid bankruptcy.
Judgment
A judgment is a simply a ruling from a court of law that results in an obligation by one party.
Nominee
Individual and corporate debtors nominate someone to report on their proposal for an IVA or CVA.