Debt Advice - What is Debt Management ?
Debt Management is an informal process of negotiation with unsecured creditors to obtain a reduction in the repayment amount and / or a reduction in interest charges. The negotiation involves providing proof to the creditor that the individual is unable to meet all their contractual liabilities.
Debt Management helps you repay an amount which is affordable to you. Depending on your circumstances, we may be able to enter you into a separate process so that you can pay back less than the original amount owed, but still clear all your debts.
How Debt Management Benefits You
- Consolidate all your unsecured debts into one AFFORDABLE monthly payment.
- If you are currently struggling with your current monthly commitments, we can help to negotiate repayment terms with your creditors.
- We’ll distribute your monthly payment to your creditors on your behalf.
- We can also negotiate to try and reduce/freeze interest and charges on your accounts.
- We can perform a confidential review of your circumstances to see if you are eligible.
- For further information on a Debt Management Plan or other services, please do not hesitate in contacting us. Alternatively call 0808 131 1111