Common questions
If your question is not here, ask us. We would rather explain something twice than have you agree to anything you are unsure about.
Who are Clearpath Financial?
Clearpath Financial is a trading name of CLP Financial Ltd, a company registered in Scotland under company number SC889107.
We help people who are struggling with debt understand what options may be available and take the first steps towards finding a suitable solution. Our aim is to make the process simple, clear and supportive, with straightforward guidance and a friendly, non-judgemental approach.
Do you give debt advice?
Yes. We talk through your circumstances with you and advise you on which of the available options may be suitable. Where a formal solution such as an IVA is involved, it is set up and supervised by a licensed Insolvency Practitioner, because only a licensed Insolvency Practitioner can do that.
Does it cost anything to talk to you?
There are no charges or costs involved with getting help with setting up a debt solution although depending on which option suits you best there could be some monthly fees associated
What kinds of debt can you help with?
Unsecured debts. Credit cards, personal loans, overdrafts, catalogues and store cards, council tax arrears, HMRC debt and energy arrears are the ones people most often ask us about. Secured debts such as your mortgage, or a car on hire purchase, are treated differently and generally cannot be included but would be protected.
Is there a minimum amount of debt?
There is no legal minimum, but the formal solutions we work with generally suit people with around £7,000 or more of unsecured debt.
Will this affect my credit rating?
Yes. Formal solutions are recorded on your credit file for six years from the date they start, and most also appear on a public register. Missed or reduced payments show up too. Anyone who tells you a debt solution has no effect on your credit file is not being straight with you.
Can you guarantee my debts will be written off?
Whether any debt is written off depends on the solution, on your circumstances, and in some cases on a creditor vote. Eligibility and outcomes vary from person to person.
What happens after I get in touch?
We will ask about what you owe, who to, and what you can realistically afford each month. Nothing is decided on that call and nothing is submitted anywhere. If a formal solution looks like it may fit and you would like to go ahead, we handle the paperwork, deal with your creditors and set everything up from there.
Still not sure?
Ask us. We would rather explain something twice than have you agree to anything you are unsure about.