Summary :
 |
Affordable - only pay
what you can afford. |
|
Easier
budgeting - just one monthly payment to
your creditors. |
|
Reduce stress - we deal
with your creditors for you. |
|
Freeze
interest - we will negotiate with your creditors
to try and achieve this. |
|
Flexible
- your DMP can be changed if your circumstances
alter. |
What is Debt Management?
Debt Management Plans (DMP) are
an informal method of dealing with debt problems.
A DMP is based on you offering a monthly amount
that is affordable to you. In return, your creditors
will usually agree to freeze or reduce interest.
As you are making lower repayments a DMP will
obviously extend the length of time it takes
to repay your debts.
Will my creditors agree?
Many of your creditors will welcome
a DMP as this method provides them with the
greatest possibility of recovering all of their
money, unlike an IVA
or Bankruptcy.
How will
I know if a DMP is right for me?
Before we suggest a DMP we will
talk through all of the options open to you
to resolve your debt problems, as there may
be a more suitable option for you. We will also
explain the pros and cons of each option and
answer any questions you may have.
Unlike most
'debt advisers' we have our own resident licensed
Insolvency Practitioner, Sarah Nancollas, who
follows the best practice guidelines set out
by her licencing authority. This includes ensuring
that all debt solutions are discussed with you
before you decide how to proceed.
By explaining
your options to you fully we hope to give you
peace of mind that you are dealing with your
debt problems in the most appropriate way for
you and your family, thus enabling you to see
the way forward to achieving a debt free life.
We can advise on whether a DMP
is the right solution for you.
