Debt Management

Although the symptoms of poor debt health may appear similar, we know everyone's debt problems are different. A debt diagnosis from Debt Solver will help you decide if debt management is the best debt solution for you.

A debt management plan allows you to make one affordable monthly payment towards your debt. Debt Solver will in addition, aim to negotiate with your creditors to freeze/reduce interest and charges, although they are under no obligation to do so.

You're not alone. Almost a fifth of all UK households are currently in arrears, unable to meet their monthly credit repayments. Debt Solver are committed to treating this epidemic of bad debt. It is spreading fast though; the UK's total personal debt grows by £1 million every 7.3 minutes.

The first indicator of your debt problem will usually be a failure to service your monthly payments but this initial symptom can lead to increasingly severe side effects. Financial problems are a primary cause of increased levels of stress, depression, the breakdown of your personal relationships. Confronting your debt problem and treating it early is the best way to avoid these serious consequences. This debt solution can reduce your monthly outgoings, giving you the control over your finances that can help you to avoid bankruptcy and alleviating the stress of spiralling debt problems. A big part of this financial treatment is the simplification of your commitments, allowing you to administer to all of your various creditors with an individual payment.

This debt solution can only be applied to your unsecured debt; mortgage payments, hire purchase agreements and any other secured debt will not be covered. Should you also be afflicted by this kind of debt problem, Debt Solver will be able to suggest alternative courses of financial first aid.

Debt Solver will represent you throughout your debt negotiations but eventually you will need to enter into a new arrangement with your creditors and this will rest on evidence that you are no longer able to meet the financial liabilities set out in the original credit agreements. So, you'll need to provide documentation of the change in circumstances that have resulted in your inability to meet your financial obligations. This could be due to losing your job, personal ill-health, bereavement or any number of other circumstances that can lead to a drop in your income.

Upon approval of this lower monthly repayment, it is divided between your creditors. They also benefit from the plan because they can avoid spending money on expensive legal proceedings and paying fees to debt collectors.

Unlike debt consolidation, a debt management plan is not a new loan. Debt Solver's personal debt managers are specialists in financial first aid and will help with the entire process, handling any difficult negotiations on your behalf.

If you would like more information, ring Debt Solver now on 08000 434 336 (Free for UK residents only) or complete our debt wizard to see if you qualify.