What is Debt Management?
- Consolidate Debts Without a Loan
- Pay One Affordable Monthly Payment
- Stop Creditor Hassle
- Stop Interest and Charges
- A Realistic Alternative to an IVA
It is a horrible situation to be in debt especially when your creditors are constantly sending threatening letters and making phone calls to get payments immediately. These are some of the tactics used by creditors to pin you down and get to you directly. Debt management will allow you to repay your debts without having to borrow more money through a debt management plan.
What is a Debt Management Plan?
A Debt Management Plan is an assessement of how much you can realistically afford to pay your creditors and start to pay off the money you owe without having to borrow any more money.
Debt management is an informal arrangement between you and your creditors, negotiated by us on your behalf. We take details of your debts, income and outgoings, and provide proof to your creditors that you can't afford current repayment levels.
You then only need to make one affordable payment to us, which we distribute to your creditors. Typically, the new payment is half your existing payments, but will depend upon individual circumstances. Debt Plan Direct provide free debt management advice to repay your debts.
What will Debt Plan Direct do for me?
Tailor made to suit you - our advisers will go through your income and expenditure with you and agree a realistic, affordable monthly payment that allows for all your day-to-day living expenses.
We deal with your creditors - we take care of all the paperwork, deal direct with your creditors and negotiate reduced repayment arrangements on your behalf.
Freeze interest and charges - we can often persuade your creditors to freeze or reduce interest and charges on all unsecured debts such as credit cards, store cards, loans and overdfrafts.
A single affordable monthly or weekly payment - you only pay what you can afford in line with your income. Make payments at the most convenient time for you (eg just after you have been paid), which allows Debt Plan Direct to pay all of your unsecured creditors.
One single point of contact - once on a Debt Management Plan you will have your own Debt Caseworker who is available to give expert help and guidance whenever you need it. Many of our staff have experienced debt problems themselves so they handle your enquiry with genuine empathy and understanding.
Monthly payment tracking - once you begin payments into a debt management plan, you will be sent monthly statements to view your payment history allowing you to check all payments made into your debt management plan, the pro-rata payments made to each of your creditors - even get an estimate of when you will be debt-free.
Flexibility - if your financial circumstances change for the better or the worse, you may adjust payments in the debt management plan accordingly.
Debt Free - you are guaranteed to be debt free by the end of the plan.
Call 0845 055 8152 to speak to an adviser immediately about your situation or contact us online.
