What is a Debt management Plan

An Informal arrangement between the borrower (you) and the lender (creditor), negotiated by us on your behalf, is known as Debt Management. We take into consideration the borrower’s debts, income and outgoings, and proofs are being provided to the lender that the borrower cannot afford to make the repayments due.

We distribute the affordable payment you can make to us and mostly it is half the existing payment, but depending on the circumstances at the given point of time.

Why opt for Debt Management?

Payments can be lower

The disposable income for payments is taken into consideration after the primary expenses such as rent and food is subtracted from the existing income and please contact us for further details on the non-obscure items which can be integrated into necessary livelihood expenses.

One stop payment

Simpler process of payment as you make the payment to us and we deposit to your creditors.

No dealing with Creditors directly

Any mode of communication by your Creditors can be routed to us, Southern Tree Ltd, and you can suggest your creditors to deal with us in matters related to your debts.

Flexibility in payments

Adjustment of payments in the debt management programme is according to the changes in your financial situation. If your financial situation changes for the better or vice versa, you can change your payment structure consequently.

Legal proceedings can be avoided

Avoiding courts and requiring high minimum debts or repayment levels are a positive outcome of the debt management, as there is an informal agreement in contrast to the IVA.

Your home is not at risk

For some reason if you are not able to make payments; the risk of home repossession is not faced here, contrary to the secured debt consolidation loan