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Debt Management & Debt Advice Freephone 0800 634 5521
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A debt management company will supervise and spread your debt repayments to your creditors.
© Debt Emergency
Debt Management & Debt Advice
Debt Management & Debt Advice
Q.
"What is Debt management ?"
A.
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Freephone:
0800 634 5521
0800 634 5521
This is a plan where an agreement is made between yourself and a debt management company who supervise and spread your debt repayments to your creditors. You may be able to agree a more convenient plan as part of the repayments without risking your home by selling and releasing equity, Interest charges however keep occurring and do not usually stop.
The debt management companies may charge fee's for there service of set up and supervision.
Like with anything there are some advantages and some disadvantages. By utilising a debt management plan you can avoid the stigma of bankruptcy and also avoid your situation being made public in your local newspaper as is the case with bankruptcy.
The plan will not protect you from all your unsecured creditors, which means it does not stop your creditors chasing you. Your unsecured creditors are also not obliged to write any of your debt off, nor is the arrangement for a fixed period.
The debt management company that are supervising your arrangement do not have to be qualified or licensed, therefore you will need to be extremely careful as to who you choose to carry out the supervision.
Any company that we recommend will both be ethical in their approach and operate on tight guidelines in order to provide a fair service to its clients.
The debt management companies may charge fee's for there service of set up and supervision.
Like with anything there are some advantages and some disadvantages. By utilising a debt management plan you can avoid the stigma of bankruptcy and also avoid your situation being made public in your local newspaper as is the case with bankruptcy.
The plan will not protect you from all your unsecured creditors, which means it does not stop your creditors chasing you. Your unsecured creditors are also not obliged to write any of your debt off, nor is the arrangement for a fixed period.
The debt management company that are supervising your arrangement do not have to be qualified or licensed, therefore you will need to be extremely careful as to who you choose to carry out the supervision.
Any company that we recommend will both be ethical in their approach and operate on tight guidelines in order to provide a fair service to its clients.
