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How does
it work?
Your creditors
are approached by a well established financial management
company. Negotiations are made and lower installments
are paid to them on your behalf. A single, affordable
monthly payment is calculated for you based on your individual
financial circumstances. This payment is then distributed
by the financial management company to each of your creditors.
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By how
much can my monthly repayments be reduced?
The monthly repayment
is tailored entirely to your individual needs. It is based
specifically around your affordability.
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What happens
if I start to struggle with the restructured payments?
If due to a change
in circumstances, the monthly repayment becomes difficult,
it can be arranged to be reduced further, to become more
affordable.
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Can I
increase payments to clear the debt more quickly once
my financial situation is stable?
Clients are always
welcome to make larger installments, allowing the debt
to be cleared at a faster rate. Also, full and final settlements
can be made on the accounts at any point during the repayment
plan.
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How do
I know that my creditors are being paid?
As the creditors
are paid on a monthly basis, you will receive a receipt
confirming the individual amounts paid to them.
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Will this
affect my credit rating?
As you maybe already
experiencing financial difficulties, it is likely that
the credit companies have, or at some point will register
adverse findings with credit reference agencies. The financial
management plan is designed to ensure your creditors are
paid on a regular monthly basis and in the long term will
help any bad credit to be deemed as satisfied.
Click
here to apply for debt management
Click here to get us to contact you- (No Obligation) |
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