Debt Management Plan
Debt Management Plan
If you don't feel like you can get out of debt by yourself, because you can't keep up with repayments or are struggling to make ends meet, then you could consider a Debt Management Plan. This is an informal arrangement with your creditors. You can get a Debt Management Plan through a debt specialist, which will liaise with companies you owe money to on your behalf. Other features of a Debt Management Plan include:
- It can freeze or reduce the interest on your debt
- It groups all your debt into one affordable monthly repayment
- Debt Management Plan companies often have affiliations with lenders so can usually prevent any court action being taken against you for unpaid debt
- Having a personal account manager to listen and sort out the agreement on your behalf
- You'll get monthly statements updating you on your progress to getting debt free
Don't let your debts keep piling up in the hope that they will go away – if you have at least £5,000 in debts then you could start the process of getting debt free today to the Debt Management Plan. If you feel like you need some outside help, then it could be just what you need. Fill in the form below and a specialist will call you back with debt advice, helping you to work out whether a Debt Management Plan is right for you.