Debt Management Advicedebt-management consulting
Debt management free of charge | Where can I find debt management free of charge?
That means 100% of the money you give your debtors each and every month goes towards payment off your debt (see all debt management firms charging charges for more information on industrial fees). Find out more about Debt Management and whether it is appropriate for your specific needs in our Debt Management section.
When you want to contact someone about debt management or would like to review alternative options, please call 0800 043 40 50 to consult a consultant.
Debt Management | A premier British debt securities charity
Debt Management Plan (DMP) is an informational arrangement between you and the persons to whom you have owed funds. It is therefore important to inform yourself impartially as to whether debt management is suitable for your particular circumstances. DMPs have two major types: billing - here you are charged an administration charge, usually between 10% and 15% of your total amount paid per month.
Free Settlement - here the entire amount of your total month payments is used to repay your debt. Since there is no management charge to repay, your debt will be repaid earlier than if you used a management firm. When you need advice on DMPs, you don't have to queue or make an appointment, our consultants are available Monday to Friday from 8 a.m. to 8 p.m. and Saturday from 9 a.m. to 3 p.m. on 0800 043 40 50.
Getting a Debt Management Scheme
Here you will find the instructions to take to obtain a Debt Management Scheme (DMP). DMPs only covers your non-priority debt, such as your debit card, debit card and loan. Prior to deciding to receive a LMP, you should make sure that you can affordable your senior debt, which includes things like your mortgages, rents and local taxes.
When you are fighting to buy your senior debt, you may need to think about finding another debt resolution that is better suited to your circumstances. Think about what you want before you choose to get a LMP - to settle all your debt quickly or is it more important for you to have a reasonable amount of money paid each month and someone else to talk to your lenders for you?
Maybe if it's the first one, you should think about picking a different debt resolution. Usually a GMP vendor will help you work out your own budgets, but it's a good thing to do it yourself first. When you decide on a vendor that will charge a premium, make sure you find out how this will impact the duration of your DMMP, the amount of cash going to your lenders, and the amount going to the DMMP vendor.
If you have a friend or acquaintance with a particular type of DMMP, ask them for a referral. Keep in mind that just because a LMP vendor has a conspicuous website or large advertising, this doesn't necessarily mean that it offers the best services for you.