Debt management

Debt management from Money Solutions UK

By: Money Solutions UK  05/07/2010
Keywords: debt management

 How will you benefit from debt management? Only One Payment. Instead of having to deal with all your individual creditors each month, you pay one single affordable monthly payment to your debt management company who will have obtained agreements from your creditors to accept reduced payments. Your monthly payment is calculated after reviewing your income and outgoings and providing for all essential bills to be paid. Take the pressure off Your debt management company will speak to your creditors for you - once you are on a Debt Management Plan, any calls or letters demanding payments should reduce. Flexible Payments. You are free to make changes to your monthly payments depending on your personal circumstances – reducing or increasing the payments accordingly. Cut out late payment and interest charges Part of the service is negotiations with creditors to freeze interest and charges. As long as you keep to the payment arrangements you should be able to eliminate late payment and interest charges. REPAYING DEBT OVER A LONGER PERIOD MAY INCREASE THE TOTAL AMOUNT REPAID. YOUR ABILITY TO OBTAIN CREDIT WILL BE AFFECTED IN THE SHORT TERM AND MIGHT BE AFFECTED IN THE MEDIUM TO LONG TERM. FEES APPLY. YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON A MORTGAGE OR ANY OTHER LOAN SECURED ON IT. THINK CAREFULLY BEFORE SECURING OTHER DEBTS AGAINST YOUR HOME 

Keywords: debt management