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Household Debt Rising
Household debt has risen by more than 30 per cent to an average of £13,153 over the last three years according to figures from the Citizens Advice Bureau (CAB). Read more
Tories Use Provocative Language To Tackle Debt
The Conservative party has launched an anti-debt campaign that urges young people to “ignore their inner tosser” and cut out unnecessary spending to reduce the likelihood of serious debt problems. Read more
Staying In The Driving Seat
The financial crisis at car giant Ford, which is making tens of thousands of US workers redundant, has fuelled uncertainty in the North West/West Midlands/UK automotive sector. Read more
Biggest Day Of Your Life - And The Biggest Debt
If your loved one got down on bended knee to pop the question on Valentine’s Day, your thoughts might now be turning to the big day. Read more
Bosses Urged To Help Staff
Companies should offer support schemes to employees with personal debt problems as part of flexible benefits packages. Read more
DEBT MANAGEMENT PLAN
Coping with large debts is hard enough, with pressure on you from all directions. Choosing the wrong debt management program can make things even worse.
This is appropriate where you can pay back your creditors but need a bit of more time to sort out your finances. It has no element of debt forgiveness or protection from diligence as it is not governed by statute. You may be charged for advice and services by the Debt Manager. Ensure you know what charges you will be liable for before agreeing to these schemes. Never pay for advice upfront.
The Company will go through your budget and see what you can afford to pay to your creditors. If you can afford to pay sufficient amounts that will discharge your debt over a realistic period of time a plan will be agreed with your creditors. You will pay funds to the Debt Manager who then makes distributions to your creditors on a periodic basis.
There are charitable organisations who provide this service such as Consumer Credit Counselling Service "CCCS".
Make sure you've covered all of your options. Contact us today for a free, confidential talk and we’ll show you a positive way forward.
Download our Debt Management Plan Fact Sheet for further information.
