DEBT MANAGEMENT PLANS

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Please see a range of debt management companies compared below. A debt management plan is for people who are finding debts difficult to manage. Rather than an IVA which is a set agreement, a debt management plan can be more flexible and are usually dealt with on a case-by-case basis. In general however, the debt management company will be able to negotiate your debt management plan with your creditors on your behalf. In addition, they will be able manage your debts into one low monthly payment and interest rates might be frozen. You will usually need to prove that you have a minimum amount of debts in order to qualify for a debt management plan this can be around 1,000 but check to see what the minimum amount is as it may vary according to the debt management plan provider. Use the table to compare vital aspects of each debt plan such as your debt options, write off options and what identification requirements the company has.

If you wish to speak to someone: Contact Us or Enquiry Line: +44 (0) 207 386 5300

PROVIDERDEBT OPTIONS

DEBT OPTIONS

Forms of IVA available

MIN DEBT

MIN DEBT

Minimum debt necessary to apply

MIN MONTHLY REPAYMENT

MIN MONTHLY REPAYMENT

Minimum monthly repayment

WRITE OFF OPTIONS

WRITE OFF OPTIONS

Potential debt write off

ID REQUIRED

ID REQUIRED

Identification required to apply

TERMS

TERMS

Terms and conditions of IVA

RESTRICTIONS

RESTRICTIONS

Restrictions for applicants

MORE INFO

Clear Your Bills
Clear Your Bills

Debt Management Plans£4,999.00£100.00Up to 60%Identification Required

Identification Required

Financial and residential information

Terms and Conditions

Terms

You must be 18 years or over and in debt

Restrictions

Restrictions

Minimum age 18 years

Clear Your Bills
Are you fed up with letters and calls from creditors? Would you like to reduce the amount of your debt? Would you like to repair your credit rating? Then the solution might be the absolutely free service of Clear Your Bills, who are able to find the best personalized money management solution for your needs. Find out now if you qualify! DETAIL INFORMATION >>Advantages

Advantages

1. Free service.
2. No obligation.
3. Personalized solutions


Disadvantages

Disadvantages

Detailed information only possible after personal details given

Debt Management Experts
Debt Management Experts

Debt Management Plans£1,000.00£80.00Up to 80%Identification Required

Identification Required

Personal details, Debt Level and Disposable Income

Terms and Conditions

Terms

Qualify criteria applies for IVA's, which average a projected write-off of 75%. Initial advice is provided at no charge and you are not obligated to use of the debt solutions recommended. All debt solutions are subject to conditions and acceptance; and credit rating may be affected. Please be aware that fees will be charged if a debt solution is taken out. Your debt advisor will make you fully aware of this. Paying a lower amount each month may increase the time it takes to repay the debt. Calls may be recorded for training and quality purposes.

Restrictions

Restrictions

Debt Management Experts
If you are in debt it can feel like a long uphill battle. Contact Debt Management Experts and they will help you simplify the process and get you back on track with your finances. All you need to do is complete their short form to see if you qualify and if you do an expert debt adviser will assess your situation and advise you on the best course of action. DETAIL INFORMATION >>Advantages

Advantages

1. A free confidential consultation
2. Comprehensive Personalised solutions
3. No setup fees
4. One simple payment


Disadvantages

Disadvantages

1. The website does not provide you with many details - you have to apply to find out more information.

Nationwide Debt Consultants
Nationwide Debt Consultants

Tailored Debt Advice
We can deal with Bailiffs
We can deal with Court Action
Regain control of your finances
No£20.00NoIdentification Required

Identification Required

Personal details to request a call back.

Terms and Conditions

Terms

It depends on your circumstances. It's important to keep up with your regular monthly payments, or your creditors may cancel the agreements we have made on your behalf. This is why we will work out an affordable monthly payment, based on your earnings and expenditure.

Restrictions

Restrictions

Your payment plan is a solution that allows you to repay your creditors at a monthly rate that you can afford. If you do not make payments into the plan, we cannot make payments to your creditors.

Nationwide Debt Consultants
If you can't afford your monthly payments to credit cards, store cards, loans and overdrafts, a Nationwide Debt Consultant debt management plan can replace them all with a single affordable payment. They could also stop demands from your creditors and even reduce or freeze interest and charges on your debts DETAIL INFORMATION >>Advantages

Advantages

1. Lower payments.
2. No need for creditors to contact you.
3. You can advise your creditors that NDC are dealing with your debts and you may refer any correspondence from your creditors to them.
4. Flexibility - If your financial circumstances change for the better or the worse, you may adjust payments accordingly.
5. No charges for late or missed payments.
6. No need to get involved in legal proceedings
7. Unlike an IVA, debt management is an informal agreement, not involving the courts nor requiring minimum debts.


Disadvantages

Disadvantages

1. There is an on-going monthly management fee for running the debt management plan calculated at 17.5% of your monthly payment subject to a minimum fee of 20 per month depending on number of creditors and the complexity of your file.

If you wish to speak to someone: Contact Us or Enquiry Line: +44 (0) 207 386 5300

Compare Debt Management Services

Look forward to living a debt free life with a Debt Management Plan but make sure it is the right debt solution for you.

Debt management plans are a popular solution for people looking to get out of a debt situation.

A debt management plan is an agreement with your creditors to repay what you owe in instalments. Debt management plans will help you budget more effectively because usually your monthly payments are reduced over a period of time, often extending when you debt has to be repaid.

What are the benefits of a Debt Management Plan?

With a debt management plan it is possible to get your creditors to freeze interest charges which can help you clear your debts faster. However, please note that your creditors to not have to agree to any such proposals. As they will deal with all correspondence from your creditors this is ideal for people are being constantly hassled.

When you take out a debt management plan you will work with people who are debt experts and have often helped thousands of people get out of debt. Not only will you be offered a non-judgemental and professional service but you can depend on support and assistance whenever you need it.

What are the drawbacks?

As debt management plans do not have a set lifespan they can take a long time to complete depending on how much you can comfortably afford to pay each month and the level of your debt.

Remember that if your creditors do not agree to have the interest on your debt reduced you could find that smaller monthly payments will mean that your debt can take a longer time to pay back which can cost you more in the long run.

Finding the right debt solution for you

A debt management plan is just one way to deal with your debts. You should look into all the debt solutions available to you including Individual Voluntary Arrangements and Consolation Loans before you make a decision.

Remember that some debt managements companies can charge a fee for their service which will be included in the repayments you make. However there are free services available but you might not get as much assistance and support if you do not pay.

Use the table above to compare different debt management plans.

Who can apply for a debt management plan?

If you have more than 1000 in debt then you can get a debt plan. Ensure that you check what the minimum debt requirements are from a debt management company as it might be more than 1,000. You will also need to prove that you have more than two creditors and you will need to be over a certain age.

DEBT MANAGEMENT - LATEST NEWS News and Charts

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The qualifications a Financial Advisor or Debt Management Consultant requires to be able to offer FCA financial advice changed on 31st December 2012, but exactly are these?

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If you need help overcoming a debt problem why not consider the services of Debt Free Direct a debt management service now available at Which Way To Pay.

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In Debt? Get a Debt Management Plan!

05 April 2012 16:00
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There are thousands of people in the UK who are struggling to deal with debt problems so don't worry you are not alone. Debt management plans come in all shapes and sizes. The companies that offer these services will look at your individual circumstances and find the best solution to you debt problems.

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