Debt Management – Ease The Burden

Nowadays, many people struggle to pay all the bills every month

, but when those bills include debt repayments, things can quickly spiral out of control if they are not paid every month. Interest charges tend to be high on credit cards and personal loans, resulting in the consumer needing to pay more and more each month to ensure balances are coming down and not going up.

If you find yourself juggling a number of unpaid debts each month, if you struggle to meet the minimum repayments on your credit cards and loans or feel like you're drowning in debt, debt management could be the answer to your worries.

A debt management plan can offer you a chance to rebuild your credit rating and ease the burden of juggling all your debts. Interest and charges can be frozen on all your accounts, meaning every payment that you make will contribute toward paying off the capital debt that you owe, instead of just chipping away at the interest that had been accrued.

While on a debt management plan, you will be offered a personal finance manager who will communicate with your creditors on your behalf so you do not have to answer harassing phone calls or act on threatening letters any more. Your case manager will be there to assist you every step of the way and advise you on how best to handle any financial issues.

By opting for a debt management plan, you would be making a positive step in the direction of becoming debt free. You would make one monthly payment towards your debts and your case manager would tell you how long it would take you to become debt free if you continued to pay that amount every month. Another great thing about a debt management plan is that if your income changes for the better, you can increase your monthly payment. If it changes for the worse, you can also decrease your payment.

If you are worried about unsecured debt, call one of our friendly advisers on 0800 083 2827 for a free consultation.

Debt Management Ease The Burden

By: Katie Simpson

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