A Debt Management Plan will consolidate your multiple unsecured debts into one lower payment. You regain financial control as you are only paying what you can afford, after you have met all of your essential bills.
Debt Helpline will negotiate with your creditors to reduce or freeze any interests and charges on your account, but this cannot be guaranteed.
This type of plan is most suitable for those with debt levels under £10,000. You make one lower monthly payment to us and we divide it fairly amongst your creditors.
Our Debt Helpline advisors will talk you through the Debt Management Plan and offer you only professional and ethical advice.
If you have a low disposable income then a Debt Management Plan may not be the right choice for you due to the extended repayment term. If you have debts over £15,000 then you might benefit from an IVA. An IVA offers a certain amount of debt write off and will lower your monthly payments.
If you are struggling with debt and you cannot afford to meet your minimum monthly payments, a debt management plan is a great way to get your finances back under control.
Debt Helpline will help you come to an amount that you can realistically afford to pay to your creditors, after all living expenses and priority debt has been counted for. All you need to do is make this one payment to us, and we will distribute this between your creditors.
A Debt Management Plan also means that your home is not at risk, as it would be with a secured loan or a remortgage. Debt Management does not involve taking out more credit, it is designed to make your current debt more affordable to you.
If you find your debt levels are over £15,000 then an IVA might be your best option. For more information from our expert advisors, please call our freephone number on 0800 0481 778.