P&G Finance Ltd

P&G Finance Ltd: debt advice in Paisley

P&G Finance Ltd is a debt advice firm with an office in Paisley, Scotland. Its activity focuses on helping people with unsecured debts to find a legally established solution, with free and confidential initial advice. The company presents itself as specialising in debt management and in arranging formal agreements with creditors.

Debt solutions it arranges

The firm provides information and management of three main figures of the British legal system:

• Individual Voluntary Arrangement (IVA): a formal and legally binding agreement between the debtor and their creditors to repay all or part of the debt within a set period and at an affordable rate. It is established and administered by an Insolvency Practitioner (IP) and, according to the company, allows up to 80% of unsecured debt to be written off. It is presented as an alternative to bankruptcy. In Scotland, the equivalent figure is the Protected Trust Deed.
• Debt Management Plan: a plan for those who have missed some payments and need to reorganise the repayment of credit cards, loans and store cards. The company explains that a specialised team advises on whether this solution fits each case. In Scotland there is the Debt Arrangement Scheme, with similar advantages and additional legal protection.
• Debt Relief Order (DRO): a solution available for debts of up to £30,000, with a maximum disposable income of £75 and no assets (including property and vehicles) or savings and investments worth more than £2,000. The company warns that its suitability depends on the personal and financial circumstances of each applicant.

Types of debt handled

P&G Finance Ltd advises on all types of debt. The firm states that, even with only two or three creditors or with a minimum debt of £6,000, there is usually an applicable solution. Among the debts it mentions are credit cards, Council Tax arrears, catalogues and buy now pay later, payday loans, store cards, bank overdrafts and energy bills.

How the advice works

The company stresses that UK residents have the right to receive help with their debts and that there are established solutions that allow debt to be written off, reduce pressure from creditors and freeze interest and charges. In the case of an IVA, it describes a single monthly payment agreed according to the debtor's financial situation, which is distributed among the creditors; during the plan the associated interest and fees are frozen, and at the end the remaining debts included in the agreement are written off.

The first consultation is free, but the firm warns that fees apply if the client decides to enter into an arrangement; an expert advisor details the costs before contracting.

Frequently asked questions about IVAs

The firm answers common questions about the Individual Voluntary Arrangement. It notes that it may be suitable for someone who cannot pay all their unsecured debt but can pay part of it. Regarding employment, it indicates that in most cases it does not affect it, although in professions such as accounting or law it may prevent practice or limit it to certain conditions. Among the disadvantages, it mentions that homeowners with equity in their property must try to remortgage, which may increase the interest rate; that the credit rating will be affected; that only the unsecured debts included in the agreement are written off; and that the IVA is recorded on a public register. The company adds that the IVA appears on the credit report for six years from its approval, although the credit score was probably already affected by the debt situation itself, and that upon completion the client can rebuild their history.

Office and contact

The firm operates from its office in Paisley and offers a call-back request form so that an advisor can contact the interested party. The company states that it does not share users' personal information with third parties.

Location and contact

1 Macdowall Street, Paisley, PA3 2NQ · Phone: 0141 473 6298 · Email: paul@pgfinanceltd.co.uk · Hours: Monday to Thursday: 9:00–20:00. Friday: 9:00–16:00. Saturday: 9:00–16:00.