Debt Management Center

Card Debt Relief

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Debt Management Centre
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A Real Life example of how our services changed
one customer's life for the better...


Mr A. of Guildford contacted us in October 2006. He was at his wit's end. Having purchased his home earlier that year, he had no equity to borrow against, and the mounting costs of his new home and supporting his wife and two young children had quickly put him £50,000 into debt.

His monthly minimum payments were over £900, and even at this level he was only repaying the interest each month - the original debt was not even reducing. After his mortgage and these payments, there was barely enough left for his family to live on.

Gradually things got worse. Mr. A. started to miss payments on his credit cards and mortgage - his wife was concerned that they were going to have their beautiful new home repossessed by the building society. She saw one of our adverts and begged him to take action before it was too late.

Our professional qualified advisors arranged an Individual Voluntary Arrangement (IVA) for Mr.A which meant that his debts could be repaid at £325.83 per month, payable over 5 years. Now he will repay a total of £19,549.80, instead of the £50,000 plus interest that he owed. Over the 5 years, that's a saving of over £84,000! Yes, just by talking to us, Mr. A saved over eighty four thousand pounds.

Mr. A and his family are now more relaxed and confident that they have enough money to pay their mortgage and enjoy the good things in life. And best of all, in 5 years, they will be 100% debt free.

Settle Your Credit Card Debt Now

Surely, you have already heard about the many options by which you can get card debt relief. Like you, there are millions of people in the UK who are struggling with their monthly salaries, and finding ways to pay all their bills, such as their auto loans, mortgage loans, even their massive credit card statements. Here is an important piece of info: in the UK, consumer debts as of September 2008 have gone above £1.4 trillion, which indicates a 5% over the previous year. If you are wondering how much of this is due to credit card debts, you might be shocked to know that it is over £60 billion already.

Credit cards were initially intended to provide convenience for consumers who don’t have cash all the time. However, as more and more credit card companies are issuing cards to millions of people in the UK, credit card debts began to grow uncontrollably. It is not hard to imagine why card debt relief has become in demand. Another factoid on credit cards: on the average, a UK consumer has four credit cards, all of which he uses. And of those card holders, only about 10% of them pay their card bills on time.

Because of this, financial authorities advise the general public to immediately consult with a debts advisor or financial advisor about the best modes of settling huge debts, especially with regards to credit cards. Credit card debt consolidation is always a topic for discussion, because of the advantages it offers to people with several credit card bills that are unpaid. This is actually getting a large loan to pay off smaller but multiple debts, such as bills and others. The borrower is responsible for paying his debt consolidation firm every month at a fixed interest rate.

Now once you have paid off all your bills and settled your debts, again, you should remember to pay your debt consolidator promptly every month. At the same time, you must make changes to the manner you spend, especially if most of your expenses are unnecessary. And lastly, financial consultants agree when they say that you will need to put up a savings account, so you have money set aside for the future.

Find out more online about card debt relief , what the requirements are for the debt settlement, and more tips on how you can recover after a huge debt problem. If you decide to make that change today, then you are well on your way to feeling the relief of being debt-free. GP