Release Money Group Terms and Conditions - Please read carefully

The Release Money Group is a group of companies which includes Varden Nuttall Limited, Debt Release Direct Limited and Release Money Limited. These terms and conditions apply to your dealings with all companies within the Release Money Group. Depending on your chosen product, you may be required to sign and agree to further terms and conditions as outlined in a Keyfacts document.

Section 1. Definition of terms

 

Asset means anything that has a monetary value that could be realised.
Creditors means any person or party to whom you owe money, subject to that sum being unsecured and which you disclose to us in the course of your instructions. We shall not accept any liability for negotiating any arrangement with a creditor that you fail to disclose, nor any consequences that may or do arise as a conse­quence of your failure to do so.
DRD means 'Debt Release Direct Limited', a UK Company registered and trading from Release House, Heap Brow, Bury, Lancashire. BL9 7JR, and registration number is 4730443. Debt Release Direct Limited (DRD) adheres to guidelines issued by the Office of Fair Trading and is a founder member of the Debt Resolution Forum. Debt Release Direct Limited is an Authorised Representative of Release Money Group Limited which is authorised and regulated by the Financial Services Authority for insurance mediation only.
Fees means the sum paid by you to us for the works undertaken on your behalf and as defined in section 5.
Keyfacts document is the document outlining the terms and conditions which are specific to your chosen solution, including details of fees, payments, duration and cancellation.
RML means 'Release Money Limited', a UK Company registered and trading from Release House, Heap Brow, Bury, Lancashire. BL9 7JR, and registration number is 5057321. Release Money Limited (RML) is authorised and regulated by the Financial Services Authority for insurance and home finance mediation activities only.
Us/We means any company within the Release Money Group of companies.
VN means 'Varden Nuttall Limited', a UK Company registered and trading from Release House, Heap Brow, Bury, Lancashire. BL9 7JR, and registration number is 4669168. Varden Nuttall Limited (VN) Insolvency Practitioners are regulated by either the Association of Chartered Certified Accountants (ACCA), or the Institute of Char­tered Accountants of England and Wales (ICAEW). Varden Nuttall Limited employs Insolvency Practitioners from both regulatory regimes.

Section 2. Appointment and Term

 

You appoint and authorise us to act as your appointed representative, to discuss, negotiate, manage and facilitate your dealings and communications with your creditors.
These terms and conditions will be enforceable from the date we receive your signed authority to act, which amongst other things, requires you to confirm that you accept these terms and conditions.
This Agreement shall continue for the duration of our dealings with you. Full details are included in your Key Facts document.
Cooling Off Period. During the period of seven working days from and including the date that you receive this letter you may cancel the Agreement by writing to: Release Money Group, Release House, Heap Bridge, Bury, BL9 7JR or you can email this request to us at cancellations@releasemoneygroup.co.uk. If this document has been posted to you, we assume that it has been received by you three business days from and including the date of this letter. If you cancel during this statutory cooling-off period the Agreement will end and we will re­fund to you all monies which you have paid to us and which have cleared through our general client account.

Section 3. Procedure and the Services we provide

 

You will provide us with accurate and current information regarding your personal financial circumstances, including all relevant information regarding your income, expenditure, assets and liabilities. This must include all relevant details whether in single and/or joint names. Based upon your instructions, we will calculate your disposable income, taking into account, allowances for reasonable living expenses in line with current regula­tory and industry guidelines. This information is used to identify the most suitable debt management solution available to you. If after assessing your circumstances, we are not able to offer you a debt solution, you may be advised to seek independent financial help. Upon your request, we may be able to recommend a range of in­dependent financial advisors, which may include members of the Release Money Group and/or other financial or government institutions, which specialise in alternative, suitable and/or other relevant product(s).
If we are able to assist you, with your agreement and consent, we will approach your creditors and negotiate a solution which is both affordable and sustainable given the information that you have provided.
Please note - Some Creditors may continue to charge interest or other recovery charges, and may already have instructed enforcement proceedings against you. Where possible, we shall attempt to agree with your Creditors for the withdrawal of any such proceedings, and where appropriate, that they freeze or reduce their interest charges. Please note that we cannot guarantee that any one or more of your creditors will agree to any proposals made by us and we cannot guarantee the outcome of these or any negotiations. We will not be liable for any judgment or financial order imposed against you in relation to any claim brought by one or more of your Creditors at any time. We are not liable for any previous agreement or payment plan that you have personally entered into with your creditors prior to our instruction.
We will communicate with you on a regular basis in order to keep you informed of our dealings with your creditors on your behalf. This may include relevant financial statements, either by electronic and /or print medium.
We are committed to regularly review your personal and financial circumstances, and will contact you from time to time and during the course of our agreement with you. If we are unable to contact you and /or you do not respond to our messages, we may assume that your personal circumstances are unchanged and will continue to submit this information to your creditors.
Our companies have clear complaints procedures in accordance with Office of Fair Trading and The Financial Ombudsman Service requirements. Should you have a cause to complain about our products or services, you may do so by any of the following methods: - Email: complaints@releasemoneygroup.co.uk. In writing to: The Compliance Department, Release Money Group Limited, Release House, Heap Brow, Bury, Lancashire. BL9 7JR. By telephone: Dial 0845 618 8408 for the Compliance department. Online: our complaints procedures and simple complaints forms can be accessed on our websites, or alternatively a hard copy of the procedures will be sent to you upon request.

Section 4. Your commitment & responsibilities to us under this agreement

 

Upon request, you will provide us with any and all relevant information relating to your finances and personal circumstances, including but not limited to, details of your income, expenditure, assets, your Creditors, and any agreement(s) you have in place or have agreed with them now and any future arrangements. Details of any and all loans or mortgages you have in place now, or have applied for. Your dependents and family cir­cumstances and any judgments of any type or sort made against you or any other enforcement action being taken against you.
All information provided by you to us will be truthful and honest. We cannot be held responsible for any ac­tions taken by your creditors due to incorrect, misleading or false information provided to us by you. You will provide documentary evidence of any agreements with creditors if requested.
You will sign any relevant documents or forms of authority required to enable us to negotiate with your Credi­tors on your behalf.
You will advise us of any change in circumstances so that we may continue to act accordingly on your behalf. This includes but is not limited to: - any change in personal and/or family circumstances; employment; income and/or expenditure information; any other personal or financial information that may have an impact on your financial and/or personal situation or our agreement.
You agree to maintain any and all single and regular payments to us, normally by Standing Order (Other payment methods are available, please ask your advisor). These payments being transferred or deposited into your client account on the same date each calendar month, and will advise us should you need to change, amend or be unable to comply for any reason. Failing to make the payments to us without sufficient prior notice will be regarded as a breach of these terms and conditions, and may result in the cancellation of this agreement and enforcement action being brought by your creditors. We cannot be held responsible for any actions by your creditors in the event of a failed payment by you.
You will keep us informed of any direct contact between you and your creditors, and send DRD any docu­ments or correspondence received from them within 48 hours of receipt.
You will assist us to maintain the effective and efficient running of your recommended solution. For example, providing information from your creditors and forwarding the same to us.
You will be responsible and shall remain responsible for the payment of any and all expenses and/or liabilities that are not, or cannot be, part of your agreement with us.
You will remain in contact with us, and advise us of any change of address or contact numbers. There may be a need for us to contact you, and we will leave a message or text if you are not immediately available. Failure to return our calls or respond to our messages may be considered a breach of these terms and conditions.

Section 5. How we handle your money

 

This depends on your accepted solution, and full details will be included in the product specific Keyfacts document issued to you.

Section 6. Your right to cancel this agreement

 

You have the right to cancel without penalty within the cooling off period as shown in Section 2.
You may cancel this agreement at any time outside the cooling off period. However this may have seri­ous consequences on your financial and personal affairs. Full details are included in your product specific Keyfacts document

Section 7. Our right to cancel this agreement

 

Full details are included in the product specific Keyfacts document.

Section 8. Effect of cancelling or ending this agreement

 

Any cleared monies paid to us after the termination of the agreement will be forwarded to your credi­tors.
You may still be responsible for any and all outstanding amounts to your creditors and possibly more. Full details are included in the Keyfacts document.
Our obligations will end on midnight of the date of termination of the agreement.
Any documents received by us in relation to the agreement will be forwarded to your last known ad­dress.
All documents and files will be kept in accordance with the Data Protection Act.

Section 9. Data Protection and authority to act

 

All incoming and outgoing telephone calls may be recorded for training and monitoring purposes.
All data and information held about you will be treated as strictly confidential and in accordance with the Data Protection Act, and our Group Privacy Policy.
In signing and returning the reply section of the Keyfacts document, you agree to the following regard­ing how we exchange information with your creditors:
You appoint Release Money Group as your representative to discuss and negotiate how payments are rescheduled in relation to any money you owe to your creditors, as shown in any payment plan set up by the Release Money Group.
You authorise Release Money Group and its employees or agents to discuss any aspects of your financial affairs with your creditors to help you sort out your financial difficulties
You also authorise Release Money Group to provide personal and financial data (including incomes, financial obligations, assets and debts) to your creditors if this is necessary.
You authorise your creditors, including their employees, offices and agents to discuss any aspect of your financial affairs with Release Money Group to help you sort out your financial difficulties.
You authorise your creditors to provide financial data (including details of your account[s]) to Release Money Group if necessary.
You have a right to view any information that we hold about you, and may request a copy. This process is known as a data access request. Any request for a copy of any information we hold about you should be made in writing stating what information you require, and accompanied by a cheque for £10, payable to Release Money Group. Write to: The Compliance Department, Release Money Group, Release House, Heap Brow, Bury. BL9 7JR.

Section 10. Miscellaneous

 

These terms and conditions are written in accordance with current legislation and UK law.
We do not give legal advice. If you require legal advice you should contact a suitably qualified individual such as a solicitor.
We do not negotiate on your behalf any reductions or payments for mortgages, secured loans, utility bills, current year council tax.
If you have any questions or matters that require clarification, you should contact us as soon as possible.