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Debt Management can be an excellent solution to manage your debts, but it will depend on your individual situation. For example, an IVA (Individual Voluntary Arrangement) or another debt solution may be of more help, so it’s worth talking to us first.

When considering debt management, you should also be aware that unlike an IVA (Individual Voluntary Arrangement), it is not a legally binding agreement. There may be other debt solutions available that are more suitable to manage your debt, so call us first to find out more.

Debt Management Pros:

Monthly payments are affordable
Interest is sometimes frozen
We will deal with all of your creditors
Your home will not be at risk if you keep up payments
You have access to help if creditors contact you
Your friends and family don’t have to know

Debt Management Cons:

Not legally binding
Creditor’s can still contact you
The debt does not go away (it can get worse)
A DMP can take a long time to complete
Your credit rating will be affected
Interest can sometimes continue to build up

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YOUR PROPERTY MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE
Depending on the adviser you are referred to a fee may be charged for mortgage advice. The precise amount may depend on your circumstances or you may be charged a set fee.