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First of all, we calculate an affordable monthly amount that you can pay towards your debts. This is paid to us and we then share this payment out among your creditors, so managing your debts is far simpler.
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We have excellent relationships wit many major creditors. As a result, we may be able to arrange with your creditors to have your payments reduced and your future interest charges lowered - or even frozen.
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A lower monthly payment makes it much easier to stay on track with your essential bills, so life is much easier. And where interest is frozen, the money you pay actually reduces your balances, rather then just paying off interest.
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It depends on your circumstances. It's really important to keep up with your regular monthly payment, or your creditors may cancel the agreements we have made on your behalf. So we will work out an affordable monthly payment, based on your earnings and expenditure
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So that we can initially set up your programme and negotiate with your creditors, your first month's payment covers our implementation costs. After that, our ongoing administration charge is 17.625% (this is included in your monthly payments and not added on).
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To ensure you know exactly how much each creditor has been paid, you will receive quarterly statements from us, so that you're confident everything is under control.
To help us find the best solution for you, simply complete the Online Application Form for more information, call 0870 062 0686.
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Debt Management Definition: Debt Management is an informal process of negotiation with unsecured creditors to obtain a reduction in the contractual repayment and / or a reduction in the interest / charges being levied by the creditor. The negotiation process involves providing proof to the creditor that the individual has insufficient income to meet all their contractual liabilities. |
