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Debt Management Example

Below is an example case how debt management can help reduce your monthly payments. Lets say you owed the following amounts

Creditor 1

£2800

Creditor 1

£3000

Creditor 1

£2200

Creditor 1

£10000

Creditor 1

£870

Totla Debt

£18870

Currently paying

£540

New monthly payment on a debt management plan

New Monthly Payment

£144

 

Your Choice

We advise you on all the debt management options so that you can make an informed decision

This is how our Debt Management Plan functions:

Debt Management Program Step#1

 An Advisor will talk to you about your financial condition, of course in absolute confidence. They will look at your expenses and income and settle with you on an inexpensive monthly amount.

The monthly amount will be utilized to make settlements to your creditors while allowing you with your daily expenses. Then, they will send you a preliminary pact specifying the discussed payment plan. The time you received the signed authorization and initial payment, they will now able to advance to the next step on your behalf.

Debt Management Program Step #2

While on the program, you get one point of contract, your personal finance manger. This manager is accessible to offer you with professional advice and help particularly when you’re in need of it.

ThThe credit liaison of the team will start to talk to your creditors to discuss lessened payment provision and make sure that every monthly payments will be distributed among them. Since they will now manage all the paperwork on your behalf, any communication you might obtain from your creditors can be merely forwarded to the team in the provided pre paid envelopes.

Debt Management Program Step #3

You are surely on your way to financial calmness.

The Debt management Program team will keep on maintaining your account and mail you the monthly statements that show the payments established for you. The team will regularly assess your situation and must your situation change, your personal finance manager will inform you or accordingly adjust your Debt Management program.

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