claims plus presentation

Claims Plus (UK) Limited : Claims Plus (UK) Limited : Licenced by the Ministry of Licenced by the Ministry of

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Claims Plus (UK) LimitedClaims Plus (UK) Limited

Insert Logo Insert Logo

AGENDA 09:00 Welcome/Coffee

09:30-10:00 IntroductionKEVIN &

SHALINDER

10:00-11:00Claims Plus (UK) Limited- Updates

KEVIN & SHALINDER

11:00-11:45 Debt Plus (Debt Management) MICHAEL NICHOLLS

11:45-12:30NE law / Consumer & Family Legal Services- Solicitors/Barristers / Q&A’s

JOHN, MARIAN, DAVID, RICHARD

12:30-13:15 LUNCH ACCOUNTANT

JULIAN ROWLEY

Fri

day

18 th

Sep

tem

ber

200

9

13:15-14:30Marketing Plans-Website-Marketing Materials

ALAN FOSTER

14:30-14:45 COFFEE

15:30 AOB/CLOSE

14:45-15:30Performance to dateIncentive Scheme

KEVIN & SHALINDER


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What is Claims Plus ?What is Claims Plus ? Service provided by Claims Plus ?Service provided by Claims Plus ?

Credit AgreementsCredit Agreements Employment DisputesEmployment Disputes Injury ClaimsInjury Claims Personal ClaimsPersonal Claims Bank ChargesBank Charges Landlord/Tenant DisputesLandlord/Tenant Disputes Debt ManagementDebt Management

Credit ArrangementsCredit Arrangements IVA’sIVA’s Bankruptcy Bankruptcy


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The Market PlaceThe Market Place

Credit AgreementsCredit Agreements In April 2007 – Amendments were made to 1974 In April 2007 – Amendments were made to 1974

Consumer Credit Act Consumer Credit Act

Pre April 07Pre April 07 Many contracts were unenforceable i.e.Many contracts were unenforceable i.e.

Bank chargesBank charges Personal loansPersonal loans Payment Protection InsurancePayment Protection Insurance Car Finance AgreementsCar Finance Agreements Credit CardsCredit Cards


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Credit CardsCredit Cards

45 million credit cards45 million credit cards 34 million pre April 0734 million pre April 07 Average balance £4,800 Average balance £4,800

Q: What makes these unenforceable ?Q: What makes these unenforceable ?

A: Incorrect APR rate, no original A: Incorrect APR rate, no original contract, no original signature etc, contract, no original signature etc, etc, etc …etc, etc …

ProcessProcess

Claims Plus

Client Court BarristerProviderSolicitor

Signs Up Audit Original Contracts

AppliesTo Court

1%


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Process ....Process ....

The process can take anything up to The process can take anything up to 6–12 months 6–12 months

Success rates 65% to 80% Success rates 65% to 80% dependant upon case typedependant upon case type

Fee StructureFee Structure

Contract TypeContract Type Upfront FeeUpfront Fee Refund if Refund if unsuccessfulunsuccessful

Success fee Success fee on completionon completion

Credit CardsCredit Cards £295£295 £100£100 10%10%

Personal Personal LoansLoans

£295£295 £100£100 10%10%

Payment Payment Protection Protection InsuranceInsurance

£100£100 £0£0 25%25%

MortgagesMortgages £495£495 £200£200 10%10%

Bank ChargesBank Charges £50£50 £0£0 25%25%

NB: no other costs apply; Solicitors only receive their fee on successful cases


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FactorsFactors

Once audit begins credit card is unusableOnce audit begins credit card is unusable Pay minimum balance monthlyPay minimum balance monthly Credit score is not normally impairedCredit score is not normally impaired Only balances over > £1,000Only balances over > £1,000 Fees can be paid by credit cardFees can be paid by credit card Joint cards can be written offJoint cards can be written off Client advised not to enter into any Client advised not to enter into any

arrangements with providerarrangements with provider


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Debt ManagementDebt Management

Michael NichollsMichael Nicholls

Michael Nicholls FCIB

Debt Advice Specialist

Agenda

Our background Market Data Options for debt clients Debt Management vs IVA Case Studies Summary

Background

Established 2005 Over 40 years combined experience Authorised and regulated by the OFT Providing face-to-face advice Ongoing commitment to service Business growth year on year

STRIKING NUMBERS Average unsecured credit debt per household is £21750 Every 10 minutes a house is repossessed 1 person every 4.5 minutes is declared insolvent or

bankrupt 1 person in every 33 is estimated to become

unemployed in 2009 CAB is now dealing with over 9,300 new debt enquiries

every day 1 in 6 people state that they are unable to cover their

credit commitments 902,000 have missed a mortgage payment in the last 6

months – equivalent to 8% of all mortgages

A Fast Growing Market

500,000 DMPs145,000 IVAs in 2009

What are the options? DEBT MANAGEMENT – an arrangement for the

client to reduce their monthly commitment by up to 70% and to freeze interest

IVA - a legal contract where the unsecured creditors agree to formally accept reduced payments of up to 70%, freeze interest and write off the balance after 5 years

Debt Management What is Debt Management ?

Client must have minimum of 2 credit agreements with debt of £3000 plus An informal agreement with creditors Repay debts with one affordable payment Payment calculated on disposable income before unsecured debt payments Potential to reduce payments up to 70% Possibility of some lenders freezing interest Should prevent legal action by lender We negotiate with all creditors reduced payments We manage payments on behalf of client We charge simple set up fee and monthly management fee

IVA Client must have minimum of 3 credit agreements with debt of £15,000

plus Client must have disposable income of £275 Client must be employed or self-employed A legal agreement under the Insolvency Act 1986 Handled by a licensed Insolvency Practioner An agreement with 75% or more of the creditors to accept the proposal The proposal is for the lenders to accept a lower amount than the amount outstanding based on what the client can afford over 60 months Payment calculated on disposable income before unsecured debt payments Potential to reduce payments up to 70% Interest on all accounts will be frozen All unpaid debt will be written off at end of IVA, generally 60 months lenders cannot take legal action

Case study 1

CASE STUDIES Case study one Joint/Single Application Single Application type Debt Management Plan Profession of applicant(s) Management Executive Mrs Jones is divorced with three children. She has £40,000 of debts across eight

creditors. She found that the increasing level of debt was unsustainable. Although she

wanted to exclude three store cards from the debt management plan (DMP) so she could continue using them, we advised her that this could hinder her ability to maintain the payments to her DMP that was being proposed. Plus we would advise against taking on more debt when entering into a DMP.

These store cards were then included and this will allow her better stability in her overall expenditure each month.

It took four weeks to gain acceptance to the proposal from the creditors. Each of these creditors will suspend interest charges until further notice. Mrs Jones is repaying the debt at £240.76 per month, a reduction from her current commitment of £1455.91

Case study 2

Joint/Single Application Single Application type Debt Management Plan Profession of applicant(s) Trainee Accountant Mr Gordon doesn’t have a high amount of debt, but was

struggling to manage the demands of his creditors. He has five creditors with a total of £5,700 of debts. Three of these creditors had sold the debts onto Debt Collection companies who were threatening our client with court action.

Although his debts were at quite an advanced stage within the collection process, we were able to negotiate with each creditor and Debt Collection company to reduce his payments to them.

Mr Gordon’s monthly commitment to his creditors was reduced from £452.00 to £175.00. More importantly for him, was that he could make one payment to us and we would distribute this to his creditors. He was no longer juggling his payments trying to satisfy the demands of the creditor who was pressuring him the most

Case study 3

Joint/Single Application Single Application type Debt Management Plan Profession of applicant(s) Joiner Due to the reduction in house building projects, Mr Thomas has seen his

income markedly decline. He is self-employed and struggling to maintain his usual household expenditures as well as his monthly unsecured credit commitments.

He has a total of £19,000 of debts across four creditors. We successfully negotiated with his creditors to reduce the monthly payments to them from a total of £463.00 to £96.81. Although this is less than our normal monthly minimum requirement, we were able to evaluate the case and determine that it would have a fair chance of being successful.

Mr Thomas is hoping to stay in the DMP for so long as the current economic climate prevents him from earning enough to either re-mortgage or make his normal contractual payments to his creditors.

Summary

Free initial assessment and best advice solution Debt management solutions that protect your

client whilst ensuring you are able to earn significant commissions

An IVA proposition that is only used where appropriate

A flexible bankruptcy support service that meets the needs of a variety of clients

Unique debt management software that allows you to submit cases and track progress

A debt helpline staffed by an experienced and sympathetic customer services team

Summary

Exciting new market- we have the experience! Market growing at a very fast pace Provide a real value-added service Helping clients to get back in control of their finances Creating a loyal client base C

Contact DebtPlus at Regus Housewww.debtplus.org.uk


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NE Law & Consumer and Legal NE Law & Consumer and Legal ServicesServices

John, Marian, David, RichardJohn, Marian, David, Richard


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LUNCHLUNCH

With Julian RowleyWith Julian Rowley


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Marketing PlansMarketing Plans

Alan FosterAlan Foster


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BackgroundBackground

30 years in marketing and advertising30 years in marketing and advertising

Managing director of the largest marketing Managing director of the largest marketing consultancy in the South of Englandconsultancy in the South of England

Clients such as:Clients such as:

Halifax Property Services, Hertz Rent a CarHalifax Property Services, Hertz Rent a Car

Whitbread Beer, Aston MartinWhitbread Beer, Aston Martin

Managing Director of AST for the last 12 Managing Director of AST for the last 12 yearsyears


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How Marketing WorksHow Marketing Works

Communicating your product or service to Communicating your product or service to potential customerspotential customers

How?How?

Drip drip processDrip drip process

Right time right place scenarioRight time right place scenario


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Why do people buy?Why do people buy?

Points of Difference or USP’sPoints of Difference or USP’s


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How do you get to your How do you get to your market?market?

Utilise your existing customersUtilise your existing customersMaximise cross selling opportunitiesMaximise cross selling opportunities

Accurate targetingAccurate targeting


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What marketing methods What marketing methods can be used?can be used?

AdvertisementsAdvertisements Direct Mail Direct Mail

PR PR Electronic Media Electronic Media

Seminars Seminars Networking Networking

Whatever you do, monitor and review the Whatever you do, monitor and review the success rate and alter your marketing success rate and alter your marketing

accordingly accordingly


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Which methods are the Which methods are the most cost effective?most cost effective?

Networking:Networking:BNI, Chambers of Commerce, Business ClubsBNI, Chambers of Commerce, Business Clubs

Always have something Always have something i.e. a leaflet that they can take awayi.e. a leaflet that they can take away

Complete the circleComplete the circle

Network with your existing clients and Network with your existing clients and contacts contacts

– use recommend a friend schemes– use recommend a friend schemesCross sell Cross sell Cross sellCross sell Cross sell Cross sell


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Electronic MediaElectronic Media

WebsiteWebsiteCan be promoted online as well as offlineCan be promoted online as well as offline

EmailsEmailsOne of the effective ways of keeping in One of the effective ways of keeping in contact with your database – and it’s contact with your database – and it’s

virtually for free!virtually for free!CRM SystemCRM System

An effective way of storing data in order to An effective way of storing data in order to accurately target your clientsaccurately target your clients


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Social NetworkingSocial Networking

Very cost effectiveVery cost effectiveCan be very successfulCan be very successful


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SeminarsSeminars

Can be used to recruit Can be used to recruit consultants as well as clientsconsultants as well as clients


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Direct MailDirect Mail

If the proposition is powerful can get a If the proposition is powerful can get a response of between 0.25% and 5% or even response of between 0.25% and 5% or even

higher.higher.There is always a high degree of wastage There is always a high degree of wastage but can be an extremely effective way of but can be an extremely effective way of

getting new clients, then these can be cross getting new clients, then these can be cross sold to.sold to.


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AdvertisingAdvertising

Media needs to chosen carefully. Media needs to chosen carefully. High degree of wastage.High degree of wastage.


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PRPR

Very cost effective, Very cost effective, people read editorial rather than ads.people read editorial rather than ads.

No guarantee that the story will go in the No guarantee that the story will go in the paper.paper.


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Marketing PlanMarketing Plan

Draw up a simple marketing plan of what Draw up a simple marketing plan of what activity you are going to do every monthactivity you are going to do every month


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Supporting CollateralSupporting Collateral

Promotional LeafletPromotional LeafletCan be used instead of a business cardCan be used instead of a business card


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Supporting CollateralSupporting Collateral

Product LeafletsProduct LeafletsDebt Solutions, Mortgages, Pensions & Investments,Debt Solutions, Mortgages, Pensions & Investments,

General Insurance, WillsGeneral Insurance, Wills


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Going ForwardGoing Forward

We are here to offer professional advice to We are here to offer professional advice to make your business as successful as make your business as successful as

possiblepossible


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COFFEECOFFEE


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Performance to datePerformance to date

Business £814,000 (67)Business £814,000 (67)

Average Case £12,500Average Case £12,500

Garry Oughton £397,000 (16)Garry Oughton £397,000 (16)

Kevin Dunks £75,000 (11)Kevin Dunks £75,000 (11)

Alan Foster £82,000 (10)Alan Foster £82,000 (10)

http://www.ownersdirect.co.uk/portugal/P2787.htm




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AOB/CLOSEAOB/CLOSE

Any questions ?Any questions ?

claims plus presentation

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