Debt Management

If you're struggling with debt problems, Debt Management may be the answer. Without shouldering yet another loan, your monthly payments will be reduced and you'll have less stress and worry.

Debt Management works by appointing a company to negotiate with your creditors on your behalf, to arrange a more affordable repayment deal for you.

They can do this by arranging interest charges be reduced or even stopped, backdated interest to be cancelled, or by negotiating a longer repayment term.

Generally, you will then make a single monthly repayment to your management company, who will then distribute it among your creditors according to the agreements they've made. This takes the pressure of juggling your repayments off you.

Do you need debt management?

It's important to note that you don't need to go to a debt management company to reduce your debt payments, as you could handle the negotiations yourself - but it's far less stressful to let a professional deal with your creditors and their experience may well result in better terms for you.

Reputable debt managers should hold a Consumer Credit Licence and shouldn't charge you any upfront fees.