Debt Management UK Debt Help Debt Solutions

Become Debt Free -Debt Management Uk

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If you have more than £5,000 in unsecured credit from more than 2 different creditors, and are unable to afford to

make the agreed repayments on your debt, a debt management plan may well be the best way for you to get your life

back on track and become debt free.

Debt management is a debt solution in which you can make a binding agreement with your creditors to pay back your

debts over an agreed period with a repayment schedule that you can afford. By negotiating with your creditors, you

can create an affordable plan for repaying your debts without the need for an IVA or bankruptcy.

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When you put together a debt management plan, you will be able to pay back what you owe over a time period that

suits you and your lenders, and free up enough cash for you to live a normal life.

Unlike other options, debt management need not cost the earth, and the plan for repaying the money that you owe is

geared towards affordability. By consulting a debt management company, you can make progress on repaying your

debts with just a few simple steps.

The first step in making a debt management plan is to assess what you owe, and to whom, as well as finding out your

exact income and outgoings to find out exactly how much disposable income you have before your repayments.

A representative from the debt management company will contact all of your creditors with the financial statement

and ask them to accept the reduced repayments from you. Most lenders will accept the offer of repayments because

they know that this is the most sustainable way of getting what they are owed without resorting to legal process.

Once this plan has been agreed, all you need to do is make a single and convenient monthly repayment that you can

afford, which will be divided out amongst your creditors.

A good debt management company will regularly review the plan to ensure continued affordability and all you need to

do is continue to make the agreed payments every month until you have cleared your borrowing completely, leaving

you completely debt free.

So..., What's Next ?

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