Main Points of Debt Management

• You pay a single monthly payment to the debt management agent that you can afford taking into account your income and expenses
• The debt management agent is responsible for dividing your payment up to paying your creditors. They ensure that the correct amounts are paid to the appropriate creditor so that debt is cleared as fast as possible. i.e if you have three creditors, which one should have priorty? The debt management agent takes care of that.
• There is no need for you to correspond with your creditors. We take on that hassle. If you still receive letters, then you should pass those onto your debt agent.
• Debt management agents are skilled in negiotiating with your creditors to reduce and/or freeze interest and other charges.
• Regular reviews with the debt agent ensure that all your concerns are taken onboard with any unforseen changes in your financial cirumstances. Monthly statements are sent to you.
• You will be in Financial Control.

Debt Management

What is Debt Management ?

Debt Management is the management of your debt by a debt management agent. They ensure that debt is paid off by you making monthly payments you can afford. An informal arrangement is made between the debt management agent and your creditors. Typically the arrangement includes a freeze or a reduction of interest and other charges which you would normally pay without the services of a debt management agent.

Is Debt Management the solution for me ?

It's difficult to say without knowing your financial circumstances. If you want to find out if it is for you, fill in our quick application form and one of our advisers will contact you for a no obligation chat.

Typically those who are refused any further loans (secured or unsecured) seek the advice of debt advisers. The debt amounts of individuals who apply for debt services vary. Usually for a debt amount under £15,000, a debt managment programme is recommended. For any amounts over, you may be considered for an IVA programme.