Are you are finding it difficult to pay off your debts? Then a Debt Management Plan may be just the thing for you.
Our fully trained debt advice team are available 9.00am until 9.00pm 7 days a week on 0800 389 5959. They’ll listen to your debt problems with a sympathetic ear and will be able to give you access to a select number of authorised debt management companies who operate the same ethical code of conduct as ourselves. With your agreement, we’ll pass your details onto one of these companies who will be able to offer you the professional advice you need.
So what is involved in a Debt Management plan?By taking out a Debt Management Plan you pay back the debts you owe to your creditors in agreed, regular instalments; you make only one payment directly to a Debt Management Company which will then divide the payment fairly between all your creditors. An additional advantage of this method is that you don't have to speak to your creditors yourself to arrange the plan; the Debt Management Company does it for you.
Is a Debt Management Plan right for me?A Debt Management Plan is a good option if you can afford to make regular payments to your creditors and you want an organised, simple way to pay. It can be the best option if you:
1) Simply need a short term solution to your debts.
2) Have unsecured debts that you can't afford to repay.
3) Have significant equity in property but prefer not to remortgage or take out a secured loan.
4)Owe money to only one or two different companies.
5) Do not qualify for an Individual Voluntary Arrangement (IVA).
6) Do not want your wife, husband, partner or spouse to find out about your debt.
7) Prefer to use a third party to deal with your debts.
8) Could pay your debts in full but don't want to change your lifestyle.
Six Steps to a Debt Management Plan
1) One of our debt advisors will work with you to assess your financial situation.This is 100% confidential. We’ll need to know your income and expenditure, who you owe money to and any other relevant information about your situation.
2) Your information will be collated into a Financial Statement, so that we can determine how much you can afford to offer each of your creditors.
3) The Debt Management Company will approach your creditors and ask them to accept the reduced payments.
4) You make a single monthly payment, which is distributed to your creditors.
5) A member of the Simple Debt Solutions Debt Management Team will work with you throughout the plan period should you experience any difficulties whilst the arrangement is in place (very rare).
6) We will review your Debt Management Plan regularly to ensure that it until meets your circumstances.
The plan will continue until your debts are cleared or until you wish to end the arrangement (for example if your income improves and you can afford to revert to the original monthly payments).
To get ethical, professional advice on a Debt Management Plan, call us now on 0800 389 5959 or fill in our online form and we’ll call you back.
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