A Debt Management Plan allows you to consolidate your existing unsecured debt into one lower monthly payment without the need for any further lending. We will help calculate how much is affordable to the debt management plan based on your current levels of income and expenditure. You can benefit from lower monthly payments which are affordable to you.

You don’t have to worry about setting this up with your creditors as there are specialist debt management companies, such as DebtsManagement.co.uk who can negotiate with your creditors to ensure that the debt repayments are affordable to you. All you need to do is make the single reduced payment to us and we will distribute these monies accordingly.

Having a debt management plan can offer some real benefits to you if you currently find it a struggle to meet your multiple debt repayments on time. You also don’t have to worry about dealing with your creditors as we will deal with these on your behalf as part of the debt management process. You should also take into account any considerations regarding the debt management process, for example  you will have to repay your debts over a longer period of time and not all creditors are willing to freeze interest or charges on your debt.

This is designed to give you just a basic overview of the debt management process and further detailed and personalised information about debts management, please fill out the Quick Enquiry Form for a FREE callback.

A Debt Management Plan is an informal agreement between you and your creditors. It allows you to repay your debt at a realistic level and shows your creditors that you are committed to repaying all of your debt, even though it may take you a little longer to do so. This type of plan can also allow you to avoid lengthy insolvency procedures too, such as an IVA or Bankruptcy.

If we help you decide that your circumstances are suitable for a debt management plan, we can calculate how much you can afford to repay towards your debt based on your income and expenditure. Debt Management Plans are often an ideal debt solution for those who feel as though they cannot afford their debts as they are tailored to what you can afford. During out initial phone call we will make sure that we account for all essential expenses, such as mortgage/rent payment, food shopping, utility bills, etc.

From here we will negotiate with your unsecured creditors and ask hem to accept reduced payments based on what we have agreed is affordable to you. Many creditors also agree to freeze or reduce additional interest and charges on your debt, although this cannot be guaranteed.

There are a number of benefits to a debt management plan too. If you go through a debt management company, such as DebtsManagement.co.uk, we will handle the negotiations with your unsecured creditors. You also don’t need to worry about phone calls and letters from your creditors as we can handle this as part of our debt management service.

Please be aware that this form of debts management is not suitable for everyone, and it is essential that you get professional debt management advice so that you are aware of all the possible debt solutions.