Personal debt problems - questions and answers
Imagine a debt-free life
Free, no-obligation,
impartial advice with guaranteed confidentiality.
We will deal with all of your creditors directly and
will recommend the best product for your circumstances.
Avoid legal action
and the consequences of bankruptcy by letting
us help you take back control of your finances.
Make one monthly affordable payment and keep your house and car.
Potentially write off a proportion of your overall debt and stop interest charges.
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It's easy to find out how you can solve your money problems, simply fill in the online enquiry form.
Alternatively you can if you prefer request us to phone you back at your convenience.
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Questions and answers FAQ's
Below is a list of the most frequently asked questions about Debt Solutions.
What is debt management?
A debt management plan is an informal agreement designed to allow someone who is struggling to meet their monthly repayments the opportunity to make a single more affordable monthly repayment via a debt management company. In return for a management fee the company passes these payments to the creditors until the debts are cleared. The most important part of the management companies duties should be to negotiate an interest and charges freeze on the borrowers outstanding accounts and then regularly ensure that creditors continue this freeze during the term of the plan. They should also ask creditors not to take any legal action providing the borrower keeps making their regular payments. Amongst other duties the management company should also agree to handle/reply to creditors letters and enquires. Enquire Now
Is a debt management plan a loan?
A debt management plan is not a loan. Incidentally since a management plan is not a loan you will not have to be credit checked.
Can I pay more or less if I want to change payments?
Because the plan is informal you can alter your payments to suit your circumstances. If your circumstances change you can raise or lower your payments. Enquire Now
Will this affect my credit rating?
It is more than likely that the management plan will have an effect on your credit rating as you will not be making your contracted repayments. However, if you are seen to be making regular payments through your plan then this should have a positive effect. You should bear in mind that if you are currently experiencing debt problems it is quite possible that your credit rating is already affected.
Does it make a difference if I am a homeowner?
It makes no difference whether you are a tenant or homeowner or if you are living with your parents or friends. Enquire Now
Does a management plan cover all of my debts?
A management plan can only cover your unsecured debts and arrears.
Do creditors always accept reduced payment offers?
Creditors do not have to accept any offer of repayment below the contracted minimum. However, they are normally prepared to accept reduced repayment offers where you can show that the offer you are making is reasonable and that you are committed to repay your debts.
Fill in our simple enquiry form today and one of our advisors will contact you to discuss how we can help you resolve your financial difficulties.