Debt Management

What Debt Management can offer you…

 

1

Monthly repayments that are affordable for your finances

We’ll provide you with a free debt management plan consultation and devise a monthly repayment offer that is in reach of your finances. This means you can enjoy repaying your debt with a singular monthly payment that doesn’t place a high strain on your finances.

 

2

Free debt management advice

Our team of advisors are always available to listen to your financial difficulties, so you don’t have to feel as if you’re on your own. Unlike some debt management companies, our advice is completely free, and we’ll suggest a pay plan for you that can alleviate the burden of dealing with debt.

 

3

We’ll handle your creditors

We’ll find the solution to your debt problems and then organise its implementation with your creditors, so that you can focus on repayment without being harassed. We’ll also stop them mailing and calling you, so you can proceed stress free and clear minded, moving forward in the future.

 

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A few of The Debt Help Council’s advantages

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Creditor harassment relief

We will open negotiations with your creditor swiftly and will make sure that all harassing phone calls and letters are stopped, so you finally attain the relief you are entitled to.

Confidential money advice service

Coping with financial difficulties on your own can affect your mental health, and it can often be beneficial to simply talk about your problems with someone. Our committed staff will dedicate as much time as you need to talk, so we can collectively formulate the best plan for your future.

Money management optimisation

Creating a debt management plan allows you to know where you stand financially, so you can proactively address your debt, whilst not placing a huge financial burden on you that comprises your current standard of living.

Reduced monthly repayments

We will meticulously analyse the personal financial information that you provide us with to determine a monthly repayment offer that is both attainable and affordable for your monetary situation.

Interest and late charges frozen

We will negotiate on your behalf with your creditors so that your interest and late charges are frozen. This means you can tackle your debt without having to worry about the balance you owe inflating and getting out of control.

Aftercare

Once your plan has been completed and your debt has been fully paid off, we will ensure that we provide a full aftercare service so that you remain debt free and on track with your finances.

We’ll handle your creditors

Tired of your creditor trying to exploit your situation when interacting with you? We’ll take over creditor contact on your behalf and manage your situation so that stress becomes something of the past.

Home retention

Debt management plans enable you to repay your debt without having to worry about losing your house or your vehicle, so you move forward without downsizing your current living arrangements.

Employment status unscathed

Our debt management company will make sure that your debt management plan is kept confidential, so that you can clear your debt without having to worry about your job.

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F.A.Q

What is a Debt Management Plan?

A debt management plan is a debt solution that essentially consists of evaluating your finances, and producing a budgeting plan that both address your debt repayment and monthly expenditure. If you have a number of unsecured debts, then you can include their value in your debt management plan and a debt advisor will calculate a reduced monthly repayment offer to make to your creditors that is consistent with what you can afford. You will also get a clear indication of how much you have each month to spend on different things such as food, house bills and travel, meaning that you’ll move forward in the future without having to worry about overspending or stretching your finances too far.

What are the Pro's and Con's of a Debt Management Plan?

Debt Management Plan con’s

  • Single monthly payment to be made to your personal debt advisor that will be distributed to all of your creditors.
  • Interest and late charges can be frozen so you don’t have to worry about the value of your debt getting any higher than it already is.
  • Creditors can no longer harass you by phone or send mail to you without first dealing with your personal advisor.
  • Smaller debt repayments that are calculated to fit how much money you can afford to part with.

Debt Management Plan cons

  • Could potentially damage your credit rating, though the likelihood is that it will already have been negatively impacted if you are in default.
  • Your creditor is not legally obliged to accept the plan and may reject certain terms, but is inclined to do so to ensure some form of debt repayment.
  • You will need to stick to the monthly expenditure plan that is outlined in your debt management plan or you risk falling back into debt.

How do Debt Management Plans work?

The first thing you need to do is assemble all of your own personal financial details and write them down. This includes your monthly income, how much you spend on all your different areas of expenditure, and how much debt you owe to each creditor. In order to produce the right plan to get you back on track, you must be comprehensive and accurate when writing down these details; otherwise you risk still being stuck with debt repayments that are too high for your finances to afford.
After you have done this, you should contact one of our dedicated staff, who will listen to your debt problems and will read through the personal information you provided them with thoroughly. They will then create a final debt management plan for you that will identify how much you should spend on certain expenditure areas each month, and how much you can afford to contribute towards debt repayment without reducing your quality of life. If you are happy with the plan, then they will get into contact with your creditor, and convince them to accept the plan on your behalf. Your debt advisor is on your side, and will make sure that interest, late fees and phone calls are stopped, so you are shielded from the hassle that they often provide. Although your creditor isn’t obliged to accept, we are confident that our vast wealth of experience and multiple business relationships will ensure a positive outcome for you.
If your creditors accept the plan, then your creditor repayments will be cut down to just one a month and you can enjoy paying off your debt without radically altering how you live. We’ll make sure you keep up with your payments, and will be a phone call away at all times if you encounter any problems or changes in your circumstances. Once you’ve cleared your debt, or have enough money available to you again to return to normal payments, we’ll facilitate this, and then keep in contact with you to make sure you don’t relapse back into debt again.

Is a Debt Management Plan the right solution for me?

Ultimately, debt management plans are an excellent way of measuring your financial situation and structuring your money in accordance to it. If accepted, they also enable you to pay lower monthly fees until that time that you feel your monetary situation is strong enough to return to your original payments. You are also given protection from creditor contact, interest and late charges, as well as court action meaning that you only have to focus on sticking to your plan in order to attain your debt free future. We’ll also be with you all the way to make sure that you keep up your efforts to stick with your payments, and will keep in touch after your back on track so that you stay that way.
If you however have extremely high levels of debt and have no form of income, then a different debt solution may be better suited to you because you need to be able to make some form of payment in order to qualify. A debt management plan may also not be suited to someone who is unable to stick to a budget, because this is pivotal to ensuring the success of your plan. Nevertheless, so long as you have some form of employment, a debt management plan is certainly worth considering as you improve your money management capabilities, and can mould your debt repayment in a way that suits you perfectly.
For any further clarification you require on Debt Management Plan’s contact us today and we’ll make sure we answer your queries as soon as possible. Alternatively, for any more information about DMP’s, check out stepchange and see if you find the answer there.

What others are saying

  • "The Debt Help Council gave me a chance to deal with my debt head on, and were supportive throughout my struggle. After identifying my route out of debt, they stayed with me throughout the solution and helped me keep up with my payment plan. I am proud of what I achieved, but I couldn’t have done it on my own. Many thanks to The Debt Help Council!!"
    Hardeep N.
  • "The members of staff helped me on a personal level and really inspired confidence in me that made be believe that I could be debt free. Dealing with my debt was made far less daunting with the knowledge that I always had my personal advisor just a phone call away who was firmly on my side. Thank you!"
    Aaron S.
  • "I was never aware that there were so many options available to me in order to deal with my debt problems, and was using short term finance in order to make my monthly loan repayments. The Debt Help Council provided me with a number of debt solutions to choose from which allowed me to start making a single monthly repayment, and this really had a positive effect on my standard of living."
    Leonard C.
  • “The Debt Help Council helped me during a time where I thought it inconceivable to clear my debt. My creditors were really piling the pressure on and I had to pay more and more each month.After my consultation, I begun believing that I could clear my debt, and the members of the staff supported me throughout my new repayment plan so that I never felt I was going through it by myself.”
    Jason L

Personalised Debt Management Plan

Personalised Debt Management Plan

We’ll look at all your financial details and devise your own personal pay plan to get you out of debt in no time.

 

Creditor
Contact

Creditor
Contact

We’ll deal with your creditors for you, so that you can concentrate on clearing your debt in a stress and hassle free manner.

Single Monthly
Payment

Single Monthly
Payment

We’ll submit a reduced single monthly repayment offer to your creditor, so you only have to make one payment to cover all your debts.

Interest and Late Charges Stopped

Interest and Late Charges Stopped

Once your debt management plan is in place, we’ll arrange with your creditor to freeze interest and late charges, so your debt never gets out of reach.