Debt Management London

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Reduce your debts quickly
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No more embarassing phone calls
Protection from your creditors
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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.

London People can Easily Manage their Debt

By having a debt management company on your side, you can pour your time and effort on more important things rather than just thinking of ways on how to get out of your financial mess. These types of companies can help you get out of debt. They can also teach you the principles of budget and debt analysis.

Usually, there will be no charge for the first consultation on debt management. London counselors will be more than willing to discuss with you how they can help you relieve your debt.

Debt Analysis

One of the first things that professional counselors do is to study and understand your current financial situation. The more information you have (like credit card balance or interest rate), the better the advice they can give you.

Although these counselors will only help you with unsecured debt such as personal loans and credit cards, they can perform a detailed analysis in your financial future by looking at:

1. the lenders you’re working with
2. the credit card late payments or over limit that you’re making
3. the total debt that you owe
4. your minimum monthly payment
5. the interest rates you’re charged with

Armed with this information, the debt management London counselors will let you know if you still have the opportunity to continue with the program. This decision will be based on a lot of factors, including how deep you are in the current debt that you’re in.

Budget Help

The next step usually is to develop your own budget. You have to write down in detail all the sources of income as well as the expenses every month.

Then, with the data you have shown them, they will be able to determine how much you should pay every month for your debt. Because of the sensitivity of this information, it’s critical that you choose a company that values your privacy.

Remember that these counselors will just base their decision on the data that you feed them. Therefore, make sure that you are accurate in giving out your numbers and answering their questions.

The steady rise in unsecured debt in London is reaching its breaking point. Many people are relying on loans and credit to survive in their daily expenditures.

Because of this debt crisis, there is also a rise in the demand for debt management. London figures indicate that more than 24% carry unsecured debt of more than £5,000. If you are part of this statistics, take action now and manage your debt to prevent burying yourself further into it. GP

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