Solve your debt problems with debt management.tv
When you've got debt problems, it's difficult to know where to turn for help or what to do.
The first stage is to recognise you've got a problem and by undertaking the research that led you to us, you have taken that important first step.
Despite what you might think there are a number of options available to you when you are having debt problems and the sooner you take action the sooner you can start to solve your problems.
The first stage in any review of your finances is to see if you can consolidate your debts via a debt consolidation loan. This can be an unsecured debt consolidation loan or alternatively it can be secured against your home. A secured debt consolidation loan will attract a lower interest rate than an unsecured debt consolidation loan, however we would always advise you to think carefully before taking out any secured loan, as securing debts against your home could lead you to lose your home if you do not meet your repayments.
Debt Management Plans
If a debt consolidation loan is not appropriate for you, a debt management plan could enable you to consolidate all your unsecured debts into one affordable monthly payment without further borrowing.
A debt management plan is suitable for people with unsecured debts of up to £15,000 and will allow you to make repayments to your creditors via one monthly payment, which you make to your chosen debt management company. The debt management company then makes payments on your behalf to your creditors. The monthly payment is set at a cost you can realistically afford and there is no need to worry about letters or calls from your creditors, as we take care of them all for you.
When we set up your debt management plan we will negotiate with your creditors to reduce or freeze any interest or charges on your debts, although we cannot guarantee this. What we can guarantee however is that you will have the flexibility to change your payment plan should your personal circumstances change.
If you are having serious debt problems, are unable to keep up on your minimum repayments and have more than £15,000 of unsecured debt, then an IVA (individual voluntary arrangement) could help you to avoid bankruptcy.
IVA (individual voluntary arrangement)
An IVA is a less drastic alternative to bankruptcy.
In contrast to a debt management plan, which is an informal agreement between you and your creditors, an IVA is a legally binding contract. Whilst the sound of this may worry you, there are real benefits for you, as the IVA is legally binding on your creditors.
Providing that you maintain your monthly payments, your creditors cannot take any further action against you, your assets are protected, interest and charges are frozen, and you will pay only what you can afford each month.
If you make the repayments that have been set for you for the duration of your IVA (typically 60 months), your remaining debt is written off.
Whatever debt solution you need - Debt Management.tv can help
So, if you are having debt problems give us a call and we'll advise you on which debt solution is right for you.
Although we specialise in debt management, other companies within our group offer the other debt solutions, such as debt consolidation loans and IVAs, so whatever debt solution is right for you we can arrange it for you.
So call us free today or take our 1-minute debt test and take that important first step to sorting out your debt problems.
