Debt management for you
What does debt management mean to me? This is where we explain the advantages and disadvantages of using a debt management plan to manage your money problems.
Advantages of using a debt management plan
- Debt management is an informal arrangement and so is flexible as you are not tied to a specified level of payment or period of time for repayments to your debts.
- No waiting for appointments or drop in times. There is always someone to help when you want us.
- Your payments are tailored to fit what you can afford to pay.
- You make just one monthly payment.
- We can take payments over the phone, and so can start to work for you immediately.
- You make your payment on the day you choose that suits you best.
- You have a dedicated highly skilled administrator working on your behalf.
- There is no limit to the level of work we will do for you.
- Your administrator deals with all your creditor correspondence and calls, saving you the time and hassle.
- We deal with the paperwork should a creditor take legal action.
- We negotiate with your creditors to freeze interest and charges.
- We negotiate with creditors to accept our pro rata payments.
- We provide pre paid envelopes for your use.
- We support you throughout the life of the plan, taking away all the stress and giving you peace of mind.
Disadvantages of a debt management plan
- The plan will be noted on your credit record and will affect your credit rating.
- Your creditors may not freeze interest and charges.
- It can sometimes take years to become debt free.
- There is no guarantee that your creditors will not take action against you in the future.
- A debt management programme is not a formal legal arrangement and creditors may not accept our pro rata payments.
Call us on 08448 247 260 or ask us any Debt Management questions using the form below:
