Is Debt Management for you?

We have a solution for every debt problem.

Debt Management is a plan designed for those who are struggling to pay their creditors and to get them out of debt. By working closely with clients we agree on a monthly payment amount that they can afford each month. Then we take over the control of their debts and negotiate for all interest and charges to be frozen leaving our clients with one affordable monthly payment.

To effectively manage your finances and put you on the road to financial recovery this is how the process works:

  1. A review of your financial circumstances by analysing your income and expenditure and agreeing an affordable consolidated monthly repayment schedule that can be distributed to your creditors.
  2. A financial statement is forumlated and negotiations with your creditors to agree reduced repayments is started. All you need to do is forward by freepost any correspondence you receive from your creditors.
  3. You make one monthly payment which is distributed amongst your creditors.
  4. A periodic review of your financial circumstances will be carried out and the program can be adapted with changes to suit your needs. Continued advice you on the best course of action to solve your debt problems as your circumstances change.

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* The amount you have left after essential bills

 
Benefits of Debt Management
Reduce payments by up to 70% Only pay what you can afford
Freezing or reduction of interest Protection from creditors
One affordable monthly payment A dedicated point of contact
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Debt Managment Pros

1. Debt management could see your interest and charges being frozen by your creditors.
2. Negotiations with your creditors to lower your payments are done on your behalf.
3. Debt management can provide relief from unmanageable debt levels and associated stress.
4. The process demonstrates your willingness to tackle your debts to your creditors.
5. Debt management won’t hurt your credit rating as much as other debt solutions like IVAs and bankruptcy.
Debt Management Cons

1. Debt management is not a legally binding agreement unlike an IVA.
2. Your creditors are under no obligation to agree to freeze interest and charges.
3. It will take you longer to pay back your debts as your monthly payments are lower.
4. Your credit rating may be affected.
5. Your creditors are free to raise legal proceedings against you at any time to recoup the money you owe them.