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Debt Management
For debts under £15,000
quote
What is Debt Management?
Debt Management is an informal payment plan where a Debt Management Company (DMC) will have a look at your circumstances and work out a comfortable payment for you to pay as one single payment. That payment is then paid to the DMC each month and distributed fairly amongst your creditors on your behalf until the debt has been cleared.

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Does my interest get frozen?

One of the first things we do upon receipt of your first payment is write to all your creditors individually requesting that all the interest and charges are frozen, allthough your creditors are not legally obliged to stop interest and charges, as long as we offer a fair amount to them and can demonstrate it is a struggle for you we are usually successful.


Do you charge for DMP's?
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We do not charge a fee for using our service, should a DMP be the most suitable advice or your preferred route then we would recommend that you speak to Money Advice Service

 

What is included in services?
  • One personal adviser assigned to you on a direct dial
  • Monthly statements sent to you detailing the amount paid to each creditor and a detailed progression as to how negotiations are progressing with each individual creditor
  • On going help and support from your personal advisor
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A DMP will extend the time scale it will take to clear your debt
and the total amount paid may be higher.

 

What is included in services?
  • One single reduced monthly payment
  • Start to reduce your debt size
  • Start to have enough money to live comfortably again
  • Reduced stress
Disadvantages
  • Will have an adverse effect on your credit rating.
  • Not all creditors may agree to the programme
  • Creditors are not legally forced to freeze interest and charges
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Company Registered Number: Z1909767, Registered member with the data protection act.
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