A Debt Management Plan is an informal arrangement with your creditors which allows you to make reduced repayments to your lenders (creditors) over a number of years.
We negotiate on your behalf with your creditors to lower your repayments; this can help you clear all of your existing loans and credit cards by replacing them all with one lower monthly payment.
The monthly repayments are based on what you can afford after a realistic income and expenditure has been drawn up.
Our professional debt experts evaluate debt options and tailor specific debt solutions on an impartial and confidential basis.
Find out more below or get in contact with us today for a 100% free consultation.
What is Debt Management?
A Debt Management Plan allows you to pay one lower monthly payment to all of your unsecured credit companies over a number of years.
Payments are made until the debt is cleared in full, or until you are able to make the full repayments again.
We negotiate with your creditors on your behalf and take away the stress of daily dealings with your creditors.
Is a Debt Management Plan For Me?
We are dedicated to providing the right Professional Debt Solution for you. We have years of experience and in-depth knowledge of all Debt Solutions available. Through our 100% free debt consultation we can assess your situation in detail and provide the best advice, options, and debt solution for your unique situation. If there are other options available, we will advice you accordingly.
A Debt Management plan will be suitable if you cannot meet your current repayments, but you can afford to pay at least £100 per month. However, if your debts are over £15,000 you may want to consider an IVA (Individual Voluntary Arrangement). Before you make a decision however, it is best to speak to one of our advisors for impartial and confidential advice.
Advantages of a Debt Management Plan
- You make one lower affordable payment
- It will ensure you can afford to pay your essential bills
- Payments can be reviewed so that any changes in your situation can be taken into account
- It can be used to tide you over until your financial situation improves
- The hassle of communicating with all of your creditors is handled by us
Disadvantages of a Debt Management Plan
- They are not legally binding (unlike an IVA)
- Creditors are free to take whatever legal proceedings against you they wish at any time
- You must pay your creditors in full
- It will be noted on your credit record
Further Information
It will take longer to pay back your credit because you are paying less back to your creditors each month. Some credit companies will not freeze the interest payments which could mean you are paying the debt for a very long time. We recommend you contact us for the best advice on your current situation.
A Debt Management Plan is an informal arrangement with your creditors which allows you to make reduced repayments to your lenders (creditors) over a number of years.
We negotiate on your behalf with your creditors to lower your repayments; this can help you clear all of your existing loans and credit cards by replacing them all with one lower monthly payment.
The monthly repayments are based on what you can afford after a realistic income and expenditure has been drawn up.
Our professional debt experts evaluate debt options and tailor specific debt solutions on an impartial and confidential basis.
Find out more below or get in contact with us today for a 100% free consultation.
What is Debt Management?
A Debt Management Plan allows you to pay one lower monthly payment to all of your unsecured credit companies over a number of years.
Payments are made until the debt is cleared in full, or until you are able to make the full repayments again.
We negotiate with your creditors on your behalf and take away the stress of daily dealings with your creditors.
Is a Debt Management Plan For Me?
We are dedicated to providing the right Professional Debt Solution for you. We have years of experience and in-depth knowledge of all Debt Solutions available. Through our 100% free debt consultation we can assess your situation in detail and provide the best advice, options, and debt solution for your unique situation. If there are other options available, we will advice you accordingly.
A Debt Management plan will be suitable if you cannot meet your current repayments, but you can afford to pay at least £100 per month. However, if your debts are over £15,000 you may want to consider an IVA (Individual Voluntary Arrangement). Before you make a decision however, it is best to speak to one of our advisors for impartial and confidential advice.
Advantages of a Debt Management Plan
- You make one lower affordable payment
- It will ensure you can afford to pay your essential bills
- Payments can be reviewed so that any changes in your situation can be taken into account
- It can be used to tide you over until your financial situation improves
- The hassle of communicating with all of your creditors is handled by us
Disadvantages of a Debt Management Plan
- They are not legally binding (unlike an IVA)
- Creditors are free to take whatever legal proceedings against you they wish at any time
- You must pay your creditors in full
- It will be noted on your credit record
Further Information
It will take longer to pay back your credit because you are paying less back to your creditors each month. Some credit companies will not freeze the interest payments which could mean you are paying the debt for a very long time. We recommend you contact us for the best advice on your current situation.