Stitch your debts with debt management solution
By Ann Gibson
Are you over burdened with debts? Are you not able to manage these debts? Do you want to avoid bankruptcy or arrears? Did you answer yes to all these questions? If so, then debt management solution is for you. Debt management solution is a way of paying your debts with a monthly payment that you can afford based on your individual circumstances.
No doubt to get your creditors agree to reduce monthly payments can be hard as the creditors are often attached with the word no. But to make your creditors agree is not impossible. Debt management solution will take utmost care to convince the creditor as many credits turn down the agreement. The following ways by which the debt management solution helps you are--
1) Go through your finance with you
2) Agree an affordable monthly payment with you
3) Prepare a Financial Statement and Budget
4) Negotiate with your creditors
5) Distribute your payments to your creditors
One more thing you may remember while taking debt management solution is you can cancel the agreement and be entitled to a full refund of money. But the cancellation written notice is received within 7 days of making the agreement. This is known as 'cooling off' period after which debt management solution normal terms apply.
Once the debt management solution programme is under way you can stop the agreement any time and no penalty is added to it. As such there is no minimum or maximum time contract. The service can be used as long as you want until you feel confident to deal with your creditors again.
Of course no debt is small if you can't afford it. But debt management solution is helpful for those who are with large amounts of debts, typically in excess of £20,000. Debt management solution is applied to unsecured debts and not to secured loans like utilities, CCJs, mortgages etc which you continue to pay and debt management service is not required.
In not maintaining payments at the agreed level and on the agreed dates your creditor may with draw his support for the plan. But as said 'prevention is better than cure' should be the motto of your clearing debts. Debt management solution not only mends your debt but also improves your credit history.
About the Author
Loan borrowing is like once in a life time decision and much is at stake. This leads to many allied misgivings. As a financial consultant the only driving force of Ann Gibson is to provide proper knowledge. He works for UK debt consolidations. To find personal debt consolidation loans, debt management, loans, unsecured debt consolidation loans, secured loans visit http://www.ukdebtconsolidations.co.uk
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| Some other articles by Ann Gibson|