Debt Management

What is debt Management?

Debt management allows you to make just one affordable monthly payment to a debt management company who distribute payments to your creditors on your behalf, without you having to borrow any more. You can manage your debt by making payments which are realistic and within your budget.
Debt management is an informal arrangement between you and your creditors, negotiated by the debt management company on your behalf.
They take details of your debts, income and outgoings, and provide proof to your creditors that you can’t afford current repayments.
You make one affordable payment, which is distributed to your creditors. The new payment will depend upon individual circumstances.
Debt management can only deal with unsecured credit and cannot include Secured Loans and Hire Purchase agreements due to your home and possessions being at risk should you not keep up with the repayments.

How Debt Management Helps:

One lower payment to all creditors. (Unsecured)
Payments are based on disposable income once essential outgoings such as rent and food are budgeted for. Many non-obvious items can be included as essential living expenses, please contact us for full details.
Less hassle, you pay the Debt Management Company and they forward payments to your creditors.
No need for creditors to contact you. You can advise your creditors that your debts are being handled by a debt management company and you may refer any correspondence from your creditors to them. For some people this makes a huge difference as they can start to answer the telephone again!
Flexibility. If your financial circumstances change for the better or the worse, you may adjust payments accordingly.
Often we can achieve to have interest payments stopped at the point of entering the debt management plan.
No need to get involved in legal proceedings

Unlike an IVA, debt management is an informal agreement, not involving the courts nor requiring minimum debts. You can stop it at anytime.

Why The Finance House?

We are a brokerage and we look for the best Debt Management companies to use. This can change and we change according to the feed back received. Therefore you can be assured we recommend debt management only when it is the most appropriate solution for you.

If you feel that you may need help with debt managment them ring us on
01273 857 024 or fill in the following form and we will contact you

Debt management is not regulated by the Financial Services Authority.

We will pass this over to a company that we trust and is regulated by the Ministry of Justice.