Debt management can be an excellent solution to your debt problem, but it will depend on your own particular situation. Debt management is way to lower your debt repayments to a more affordable level. A debt management company will negotiate, supervise and distribute your repayments to people you owe money to, leaving you to focus on making just one monthly payment.
Before entering into any debt management you should make absolutely certain that Debt management really is the best solution for you. Unlike an IVA (Individual Voluntary Arrangement), Debt Management is not legally binding, and there may be other solutions so it's worth talking to us first.
At Debt Free Direct, before we recommend any course of action, we will take a detailed look at your individual situation. We use our Best Advice Model to ensure that we only give one solution: the RIGHT solution. Our solution for you is based on nothing but your own particular circumstances, whether it is a debt management plan or not.
Or would and IVA be a better option?
For instance, if you owe more than £15,000 and are struggling to meet your monthly repayments, an IVA might be a better option. An IVA is the only solution in which people you owe money to are legally bound to accept lower monthly repayments and at the end of five years they will actually write off any outstanding amount you cannot afford to repay.
Before you do anything, call Debt Free Direct and we will advise you on the best solution to meet your individual needs. The solution we offer you may well be a debt management plan, or it may be something else. Whatever the eventual outcome, unlike many debt management companies, we will review all possible options and recommend the right one for you.
