PAO DEBT MANAGEMENT ACCOUNTING LIMITED
平安債務管理會計事務所
Debt Relief DRP
Am I suitable for DRP debt relief?
People with stable income
The total amount owed exceeds 10 times the monthly salary
Professionals or people working in the financial industry
People who are concerned about reputational damage
Benefits of DRP Debt Relief
1
No need to notify employer
No impact on existing work
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Low application threshold
Simple procedure
Successful application within half a month at the earliest
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2
No need to go through the courts, no legal restrictions
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More elastic
Optional restructuring of certain debts
After the repayment portion of the monthly salary is reserved
The remaining balance can be used freely
Applying for DRP Debt Restructuring You Must Know
1
Repayment period
Credit database TU may be affected
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The creditor institution must be a formal lending or financial company, excluding underground lending
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If the negotiation between the debtor and the creditor fails, the debt may need to be restructured in court.
Why
DRP Debt Relief
Is it a good way to deal with debt?
By applying for the DRP Debt Relief Plan, debtors can reorganize their financial expenses and solve the underlying problems. By negotiating suitable repayment proposals, debtors can unify multiple debts, extend the repayment period, and reduce monthly interest expenses.
DRP allows debtors to gradually pay off their debts within their means, preventing their financial situation from deteriorating to the point of no return and ultimately facing serious consequences. Although most banks and financial companies will agree to DRP debt relief because of the win-win situation, some institutions may not accept it. Therefore, before applying for DRP, it is recommended to consult first, understand in detail and analyze whether it is suitable, so as to save time and money.
Debt Relief Process
Step 1: Book a consultation
Step 2: Arrange a meeting
Debtors who wish to entrust the Association with debt relief services can make an appointment for a free consultation via WhatsApp or by calling 2206 3000.
We will arrange a meeting to analyze the debtor's overall financial situation in detail and provide professional advice based on his/her repayment ability.
Please prepare the following documents:
Proof of income
Credit card monthly statement
Loan information (including all debt amounts and affiliated banks or financial companies, etc.)
This information will help us assess whether the debtor is suitable for applying for DRP debt relief.
Step 3: Draft a repayment plan
Once the debtor is confirmed to be eligible for DRP application, the debtor can decide whether to proceed. If the debtor decides to restructure the debt, we will assist the debtor in drafting a new repayment plan, including the repayment amount, interest rate and number of repayment periods.
Step 4: Submit and discuss repayment plan
After drafting the new repayment plan, we will submit a proposal to each creditor. At this stage, the debtor can discuss the content of the repayment proposal with the creditor in order to find a solution that maximizes the interests of both parties and reach a consensus on the DRP plan.
Step 5: Implement repayment plan
When both parties reach a consensus on the repayment proposal, the debtor and the creditor will sign the repayment proposal, indicating that the plan is approved and the DRP debt relief plan will be launched immediately. The debtor needs to make monthly repayments according to the content of the proposal and repay the relevant amount on the specified date. To avoid future disputes, the debtor should carefully read all the terms and contents of the debt relief proposal before signing it, and raise any questions in time.
Debt Relief Case Studies
Ping An Debt Management Accounting Firm has extensive experience in debt handling and has successfully handled various types of real debt relief cases. Our clients come from different backgrounds, but they all face debt problems. By providing debt relief services, we have helped many people regain their normal lives and reduced their psychological burden. Although many debt relief cases have commonalities, each client's background and reasons for debt are different and cannot be generalized. In addition, everyone's repayment ability is also different. Therefore, our professional team will first understand the specific needs and challenges of each client and provide tailored processing suggestions for different situations.
DRP Debt Relief Q&A
01
Why can DRP debt relief plan avoid bankruptcy?
Some banks and financial companies may not accept DRP debt relief, so it is recommended to consult an experienced consulting firm or lawyer before deciding to proceed. The DRP debt relief plan is based on win-win considerations. By re-arranging the repayment plan with the creditor, the debtor can retain assets during the repayment period, rely on salary and normal income to maintain life, support family needs, and continue to repay the loan to avoid bankruptcy. After the interest reduction and extension of the repayment period, the repayment amount will be reduced and become more affordable.
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Why do we need a debt restructuring IVA and a DRP debt relief plan?
Due to the high cost, slow progress and cumbersome procedures of IVA, the DRP debt relief plan provides a more mainstream solution to help debtors reorganize their debts without bankruptcy. This plan greatly reduces the financial burden of debtors in the reorganization process, making the plan easier to pass and implement. Compared with IVA, the DRP debt relief plan is more economical, faster, and widely welcomed by creditors, with many successful cases.
03
Will creditors stop pursuing me if they learn that I have applied for the DRP Debt Relief Plan?
Not all banks and financial companies will accept the DRP debt relief plan. Banks and financial companies that participate in the DRP will usually stop collecting debts, while those that do not may continue to collect debts. In addition, some financial companies that borrow money in the name of lenders usually do not accept DRP. For such lenders, they may continue to collect debts when discussing interest rate relief plans. Therefore, before deciding to apply for the DRP debt relief plan, it is recommended to consult the professional advice of our company.
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What is the duration of an IVA debt restructuring plan?
The term of an IVA debt restructuring plan is usually 5 years, but it may be different in some cases. During this period, you will be required to pay your debts in accordance with the repayment method set out in the plan.
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Do I need to stop my business operations to apply for an IVA debt restructuring?
Normally, you do not need to cease business operations to file for an IVA. An IVA is designed to help you restructure your debts, not to close your business. However, in certain circumstances, this may require further assessment of your business situation and viability.