The Debt People are specialists in providing debt advice and tailored Debt Management Plans.
If after debt advice from The Debt People a debt management plan is deemed the right debt help solution for you, you could:
- Only make a single monthly payment
- Possibly reduce or freeze interest and charges (dependant on your circumstances and creditor approval)
- Leave us to deal with demand letters and calls from creditors
- Regain control of your finances to stop the situation getting worse
What is Debt Management?
A debt management plan is an effective debt solution, which enables people who are struggling with their repayments to regain control of their finances. Debt management plans are often referred to as a flexible debt solution, because debt management plans allow payments to be changed according to your changing financial circumstances. Debt Management works by gathering all unsecured balances together (i.e. loans, credit cards, store cards and overdrafts) into one affordable payment, which then makes debts easier to manage. Debt help from The Debt People, in the form of a debt management plan, is designed to help you reduce your repayments too, which can be achieved by spreading payments over a longer period of time – thus making them more affordable in the sort term. The Debt People provide expert debt advice and arrange debt management programmes, like tailored debt management plans, for people struggling with their finances.
In setting up a debt management plan we will designate a professional adviser who will offer debt advice to you based on an in-depth analysis of your circumstances. They will calculate the amount you can realistically afford to pay after your priority payments (i.e. mortgage, utility bills, council tax and other living expenses) have been accounted for. Any money left over after your priority payments have been covered is classed as your ‘disposable income’. We will then distribute this available money to your creditors on your behalf. Our debt help is tailored to your needs and our initial debt advice is free, although there is a cost involed in the debt management plan itself.
Benefits of a Debt Management Plan
There are many benefits of seeking debt advice and taking a debt management plan with The Debt People. We will act on your behalf and negotiate for reduced payments with your creditors, so you no longer need to deal with letters and telephone demands from them. The Debt People are also one of the most reputable and established debt management companies in the UK and have developed strong relationships with creditors. This means that creditors may agree to totally freeze or reduce the amount of interest being charged on your accounts. Whilst this cannot be guaranteed, we have built very strong relationships with many creditors over the 12 years that we have been operating and in cases cases, the debt advice and debt help plans we provide can help avoid bankruptcy and stop creditors from taking legal proceedings against you.
Complete the form on the right and one of our advisers will provide expert debt advice. To speak with an adviser, for immediate debt help, call FREE on 0800 037 0053.