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A debt management plan could be the answer if you have unsecured debts of less than £10,000 or your debt problem is just in the short term. Debt management effectively gets you out of debt by allowing you to make repayments that you can afford.
The debt management company will negotiate on your behalf with your creditors and provide evidence that you are unable to afford their current repayment levels. They will arrange one single lower monthly repayment which you can afford. This is paid to your debt management company who then distributes payments to your creditors.
Whichever creditor you owe the most money to will receive the largest percentage share of your disposable income, whichever is owed the least will receive the least percentage share.
In the vast majority of cases the debt management company has arrangements in place with creditors that enables them to have interest payments stopped upon entering in to the debt management program.
If you have problems with your current finances or have had problems in the past then this makes it even more important to receive good advice. Don't put it off any longer, take your first steps on the road to financial freedom. So fill in our short form today. |