Debt Management - The safest way to become debt free.
Are you struggling with your monthly repayments? Or have you been turned down for a debt Consolidation loan? This isn't a problem anymore, as a debt management plan can help.
- Repay only what you can afford each month. Your monthly repayments can be reduced by up to 50%.
- You make one payment each month which is distributed fairly to your creditors.
- The Debt Line will handle all communication with your creditors and negotiate to reduce repayments and freeze interest and charges on your behalf.
What is Debt Management?
A Debt Management or Financial Management Plan is coordinated by a specialist company on your behalf and provides a structured repayment schedule for your unsecured debts. The amount that you repay each month is based entirely on what you can afford. It is paid by you to the debt management company and then divided fairly between your creditors. This not only means that creditors will stop contacting you, but that interest and charges on your debts may be frozen so that any money that is repaid goes directly towards paying off your debts rather than to the lender.
Can I apply for Debt Management?
Any UK resident with two or more creditors and over £1000 of unsecured debt can apply. If you apply for a Debt Management Plan, our advisers will guide you through the process by telephone, giving you professional advice on whether Debt Management is the right course of action for you.
What will The Debt Line do for me if I apply for Debt Management?
- All calls from angry creditors will cease.
- No more red letters demanding money will be sent to your home.
- All interests on Credit Cards or Store Cards will be frozen.
- A detailed income and expenditure sheet will be drawn up, allowing for all needs and most wants, and an affordable payment will be arranged according to these findings.
- All legal action will cease on completion of paperwork.
- Most importantly, peace of mind.
Additional advantages of Debt Management?
- One payment each month, no matter how many creditors you have.
- No hidden costs, all administration charges are covered in your monthly payments.
- Guaranteed debt free by the end of the program.
Further information on Debt Management
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"Initially I applied for a loan to consolidate my debts. However, after speaking to one of your advisors, it became clear that a far better solution would be to go on one of your financial management plans...
Everything was made so simple and the continual support and advice you have provided from my initial enquiry and whilst on my financial management plan has resulted in my debts nearly being clear now! I can't thank you enough for your help."
Janet N, Birmingham
