How the process works
Once a decision has been made that a Debt Management Plan (DM) is right for you, you will be asked further questions regarding your current financial situation (such as how much your income is, how much you spend on monthly household bills and how much you owe in unsecured debt). Based on the information you have given, a repayment amount will be agreed with you. Once we receive a signature of consent we will then start the process and deal with ALL of your unsecured debts on the plan on your behalf.
6 Step Process
- We will assess your financial situation and establish what you can realistically afford to pay your creditors.
- You will be assigned a personal advisor who will negotiate with all of your creditors to accept our lower offers of repayment and ask them to FREEZE or REDUCE all interest and charges.
- HASSLE–FREE. We ask your creditors on the plan to cease direct contact with you and ask that your creditors contact us to discuss your account.
- Once the negotiations are complete you simply pay ONE affordable monthly payment to us and we will distribute your payments, less our fees, to your creditors accordingly whilst providing you with monthly statements.
- We will keep in contact with you to review your financial situation and if necessary make amendments to your plan to reflect any change in personal circumstances (for example if your income reduces.)
- Become DEBT FREE and stress free!! *
Throughout the duration of the Debt Management Plan you will have a dedicated Advisor who will oversee the arrangement. You pay a single amount each month to us and, providing you stick to the agreement, your debt should start to reduce month by month.
* Providing you keep up with your new monthly payment arrangements.
Rescheduling debt over a longer term may affect your credit record and may lead to an increase in the total sum to be repaid.
