One of the main benefits of a debt management plan is that it can lower the minimum payment amount that you need to repay to your creditors on a monthly basis to a reasonable amount that you can pay. Once the debt management plan has been negotiated with your creditors, all you need to do is to make one payment to a debt management company, such as DebtsManagement.co.uk, and they will fairly disperse this payment as has been agreed.

A debt management plan could freeze any further interest or charges on your unsecured debt, but this cannot be guaranteed.

A debt management plan help makes your debts affordable on a monthly basis and means that you should be able to afford your priority debt repayments too. As your debts are affordable, you shouldn’t have to worry about missing repayments to your unsecured creditors meaning that you can look forward to a future where you are debt free.

The best way to see how a debt management plan can help you become debt free is to speak to one of our professional debt management advisors. They will take details of your any income and outgoings and will help to find you a debt free solution which is right for you.

Whether or not a debt management plan will work for you is dependant on a number of factors. A Debt Management Plan is not suitable for everyone and you may wish to consider other debt solutions, such as an IVA.

The best way to answer the question “Will a Debt Management Plan Work For Me?” is to seek expert debt management advice. We have a team of debt management advisors who can help advise as to which debt solution could work for you.

Will a Debt Management Plan Work for Me If….

A Debt Management Plan is most likely to work for you as a debt solution if you fit the following criteria…

• Your debts are under £12,000 so you are not suitable for an IVA.
• You are struggling to meet minimum payments on your debt and are looking to pay a reduced amount.
• You are not suitable for or would not feel comfortable with a debt consolidation loan.
• You can afford to pay £100 a month to your creditors.

However, a Debt Management Plan might not work for you as a debt solution if…

• You would be more suited to an alternative debt solution.
• You do not wish to damage your credit rating, but be aware that most debt solutions can damage your credit rating in some form or another.
• You do not think you could commit to making reduced monthly payments.

This article offers you only a glimpse as to whether or not a debt management plan will work for you. Please seek expert debt management advice.

Our Debt Management company will help you deal with your debts and we can arrange a debt solution for you, such as a Debt Management Plan or IVA.

We will negotiate with your creditors to reduce your monthly payments. Our advisors are trained to the highest level and they will guide you through your finances and help to find the right debt solution for you.

Expert Debt Help from a Debt Management Company

We would never charge for giving advice and if you are struggling with your debts and are worried about how to make repayments, it makes sense that you would seek expert advice about the best way to tackle these.

Don’t worry about having to deal with your creditors. If you agree to a Debt Management Plan or IVA through us, we will deal with your unsecured creditors on your behalf.

Debts Management can offer you further advice on your debts. No matter how big or small your debt is, we will do our best to find a debt solution to suit your needs.

Call our Debt advisors free on 0800 0481 777.

Sadly, not all debts can be included in a Debt Management Plan as it can only deal with unsecured debts. Unsecured debts include overdrafts, store cards, credit cards and unsecured loans.

What Debts Can I NOT Include in a Debt Management Plan?

Examples of debts which cannot be included in a Debt Management Plan are:

• Mortgage
• Secured Loan
• Hire Purchase
• Conditional Sale Agreement
• Court Fines
• Council Tax
• Student loans, if taken out after September 1998.

If you are uncertain which debts you can or cannot include in a Debt Management Plan then it is essential to get professional help. DebtsManagement.co.uk have a dedicated Debt Management team who can advise you if your debt can be included in a Debt Management Plan.

Call today for Debt Management advice on freephone 0800 0481 777.

Remember that if your debts are over £15,000 then an IVA could be a better debt solution for you. An IVA means you could write off unaffordable debt and, typically, be debt free in 60 months. Get in touch and we can offer you further IVA information.

Sadly, not all debts can be included in a Debt Management Plan as it can only deal with unsecured debts. This means that any debts which are secured to goods or property, such a secured debt consolidation loan or a mortgage, cannot be included in your Debt Management Plan.

What Debts Can I Include in a Debt Management Plan?

Examples of debts which can be included in a Debt Management Plan are:

• Overdrafts
• Credit or Store Cards
• Catalogue debts
• Mail order debts
• Unsecured or Personal loans

If you are uncertain which debts you can include in a Debt Management Plan then it is essential to get professional help. DebtsManagement.co.uk have a dedicated Debt Management team who can advise you if your debt can be included in a Debt Management Plan.

Call today for Debt Management advice on freephone 0800 0481 777.

Remember that if your debts are over £15,000 then an IVA could be a better debt solution for you. An IVA means you could write off unaffordable debt and, typically, be debt free in 60 months. Get in touch and we can offer you further IVA information.

There are no set rules regarding how long it will take to pay off debts with a debt management plan. Unlike an IVA which typically lasts for 60 months, the timeframe of a debt management plan is dependant on a number of factors.

Everyone is different, as your level of debt and personal financial situation will not be the same as anyone else.

For example, even if two people have the same amount of debt, you may both have different amounts of disposable income which will mean that you both pay off different amounts towards your debt. Even if you have the same amount of debt and disposable income, your debts could alter in interest rates therefore the person with the highest level of interest will take longer to pay off debts with a debt management plan.

This is why we tailor the debt management plan to you.

Pay Off Debts with a Debt Management Plan

With a Debt Management Plan, you only pay what is affordable after interest and charges have been deducted. You should be aware that because you are paying off debts with a debt management plan it will take you longer to repay your debts.

The best way to find out how long it will take to pay off debts with a debt management plan is to seek expert debt advice. Please contact one of our DebtsManagement.co.uk debt management advisors on 0800 0481 777.

Here are some ways you could pay debts off…

1: Pay off more than the minimum about of debts owed.
One of the fastest ways which you can begin to repay debts is to pay off more than the minimum amount of debt.

Only making the minimum payment to your debts (which could be between 2-3%) will only prolong the amount of time you will be repaying the debts and the credit card provider can reap the rewards of interest.

Pay as much as you can each month. This might mean setting yourself a stricter monthly budget, but try and throw any spare cash you have available at your debts. Ways to pay debts that little bit quicker could include bringing your own lunch to work instead of eating out or avoiding the temptation to ‘treat yourself’ to unnecessary items.

2: Know that there are debt solutions available.
Knowing that there are debt solutions designed to help you pay debts is a piece of invaluable knowledge, as believe that they will forever have to struggle to pay debts off or file bankruptcy. This is no longer the case as there are a number of debt solutions which can help you pay debts off:

Debts Management Plan – An informal agreement between you and your unsecured lenders. A Debts Management Company, such as ourselves, will negotiate with your creditors so you can make smaller monthly payments to your debts. Although it will take you longer to pay debts off, you should find that they are no longer a struggle on a monthly basis.

IVA – Like a Debt Management Plan, you can benefit from making smaller monthly payments to your creditors, but with additional advantages. An IVA allows you to make reduced monthly payments and at the end of the IVA, typically 60 months, you will be free from unsecured debt.

The simplest way to discover alternative ways to paying debts, is to get expert debts management advice. Our debts advisors are on hand to offer you further information about the range of ways you can pay debts off. Call today on 0800 0481 777.

If you have a problem with your debts, it can often be hard to know which was to turn. But thankfully help is at hand, Debts Management are here to help. We only offer ethical advice about your debts, and are determined to find a solution to suit your needs.

Although your debt problems may seem to be getting worse and worse, there are a number of debt solutions available to you. The key is to take action as soon as possible, so pick up that phone today and give us a call for free. We’ll give you the best possible advice and can arrange all the main debt solutions for you.

The first debt solution many people consider is to consolidate their debts via a debt consolidation loan, either unsecured or alternatively one that is secured against your home. Secured debt consolidation loans generally attract a lower interest rate than unsecured debt consolidation loans, however you should think carefully before taking out any secured loans, as securing debts against your home could lead to your home being re-possessed if you do not meet your repayments.

Not sure what debt solution is right for you? Call now to find out….

Debt Management Plans

If debt consolidation loans are not appropriate for you, debt management plans could be the answer. These enable you to consolidate all your unsecured debts, making one affordable monthly payment without borrowing any more money.

Debt management plans are suitable for people with unsecured debts up to £15,000 and allow you to make repayments to your creditors via one monthly payment, which you make to a debt management company such as ourselves. We then make payments on your behalf to your creditors, with the monthly payment set at a cost you can realistically afford. There is also no need to worry calls or letters from your creditors, as we handle all communication with your creditors once your debt management plan has been set up.

Whilst setting up your debt management plan we will also negotiate with your creditors to try and persuade them to reduce or freeze the interest and/or charges on your debts, although obviously we cannot guarantee this. However the beauty of a debt management plan is that you have the flexibility to change your payment plan at any time, particularly if your personal circumstances change.

If you are having serious problems with debt, for example if you are unable to keep up on your minimum repayments to your various creditors, and if you have more than £15,000 of unsecured debt, then an Individual Voluntary Arrangement (IVA) could be more appropriate and help you to avoid bankruptcy.

Individual Voluntary Arrangements (IVAs)

IVAs are a less drastic alternative to bankruptcy.

Whereas a debt management plan is an informal agreement between you and your creditors, an IVA is a legally binding contract. There are real benefits to this option, as the IVA is as legally binding on your creditors as it is for you.

If you maintain your monthly payments your creditors can’t take further action against you, your assets are protected, interest and charges are frozen, and you’ll pay only what you can afford each month.

If you keep to the repayments that have been agreed for you over the duration of your IVA (which is typically 60 months), your remaining debt is written off at the end of the repayment period.

Debts Management Can Help Find Your Debt Solution.

If you are having debt problems call us today for advice on the different debt solutions and which one is right for you. Whilst we specialise in debt management, the sister companies within our group offer the other debt solutions, including IVAs and debt consolidation loans.

So whichever debt solution is right for you, we’ll be able to arrange it for you. Call Debts Management free today on 0800 0481 777.