Debt Management Program

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Reduce your debts quickly
Protect your family
No more embarassing phone calls
Protection from your creditors
No more threatening letters

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and you could soon be seeing
a brighter future too.

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.

If you Fail to Plan Financially, You are Planning to Fail

We have planned a lot of things in our life – vacations, travel, parties. But have we ever looked at our financial life? How could we succeed if we don’t have a plan to start with?

A debt management program could help you in this matter. It involves seeking the advice of credit counselors who will come up with a plan to erase your debts. It also includes an arrangement with your creditors stating that you will pay regularly with an amount that you can afford. Even if these programs are actually not legally binding, they will play a major role in painting you a good financial future.

The plan will normally begin by assessing your financial situation – the counselor will gather information about you, your income, and your expenses on a monthly basis. Then he/she will realistically plot it out into a financial statement that will determine the amount that you could pay for each of your creditors.

And then, these counselors will approach your creditors and negotiate for reduced payments. Most of the time, your creditor will be happy to agree with a well-organized plan. Maybe this is because they have known from experience that these plans may be the best chance they’ve got to get their money back.

Free Program

You can find a debt management program operated by some non-profit organizations. These programs may be better than the rest because they are not thinking about their profits first hand. Most people say that they would put your best interest above all.

However, keep in mind that since this program is for free, their counselors might be just voluntary workers and may not be very experienced in professional credit counseling.

Aside from organizations, there are also reputable freelance counselors providing free consultation on debt management. But bear in mind that the credit counselor you choose should be certified to follow the law’s basic guidelines so you can get the best advice.

Good credit counselors will inform you of different debt management options before you agree to one. Watch out for those who will try to sell you a single idea. These people usually have hidden agendas, like pushing to you the plan that will pay them the biggest commission.

Confidentiality

It is also critical for you to get a counselor that you can trust. Since there is a lot of sensitive information that will be discussed, your conversation must be kept confidential. Nobody wants their financial situation to be known by people, so your security and privacy in choosing a debt management program is of utmost importance. GP

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