Debt Management - Call 01543 432076
A Debt Management Plan or Payment Plan is an informal agreement which decides how much an individual or family can pay their creditors each month. Debts are consolidated into one affordable payment. The Debt Management company will charge an administration fee for dealing with your creditors for you (usually your first months payment) they will then take a small per centage of your monthly payment which covers the cost of managing your plan. The plan can vary in length / time depending on the amount of debt and the monthly payment made. Interest is usually reduced or even frozen by creditors during the plan following negotiation by the Debt Management company.
Every 6 months a 'financial review' is carried out by the debt management company to ensure that you can still manage the payment and to see if there is a product for you that can get you out of the plan.
Quarterly statements are sent to you, showing payments made to date. Creditors may also send you their monthly statements. This way you can keep up to date.
If your circumstances change, the Debt Management Plan will change with you. Remember, this is your plan based on your figures - not on the creditors collection terms!
You need to have at least 2 debts and over £3000 outstanding to apply. No credit check will be made. All information is confidential.
Every 6 months a 'financial review' is carried out by the debt management company to ensure that you can still manage the payment and to see if there is a product for you that can get you out of the plan.
Quarterly statements are sent to you, showing payments made to date. Creditors may also send you their monthly statements. This way you can keep up to date.
If your circumstances change, the Debt Management Plan will change with you. Remember, this is your plan based on your figures - not on the creditors collection terms!
You need to have at least 2 debts and over £3000 outstanding to apply. No credit check will be made. All information is confidential.
