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A debt management plan is an option that may help you to avoid bankruptcy. A debt management company will work out your disposable income and contact your creditors to negotiate a new affordable monthly repayment plan.
If the plan is accepted by your creditors you will make one monthly repayment to the debt management company. The debt management company will then pay your creditors.
You should be aware that you may be encouraged by some organisatios to opt for a debt management plan when in fact it may not be your best option. If you would like to review your options then contact us
The overriding purpose of a debt management plan is to allow you to repay your debt. It is also sometimes used:
You should give serious consideration to the length of the debt management plan. If it will take you longer than 5 years then you should also consider an IVA or bankruptcy. You do not want to be in debt for the rest of your life.
Due to the recent economic problems there are now hundreds of organisations offering debt management plans, mainly for their own pockets!
If you are considering a debt management plan the first consideration you should have is where to go for advice. Many companies out there persuade you to use the debt management plan as a debt solution purely for the benefit of their profit.
Please contact us for further information
YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE
IMPORTANT - Please Download & Print Out Our Initial Disclosure Document (IDD)
Mortgage Xperts is a trading name of Echelon Mortgages Limited.
Echelon Mortgages Limited is authorised and regulated by the Financial Services Authority in England and
entered on the FSA Register under reference number 461478.
The guidance and/or advice contained within this website is subject to the UK regulatory regime and is
therefore primarily targeted at consumers based in the UK.
Address: Mortgage Xperts
33 Orrell Lane
Tel: 0151 329 2900
Fax: 0151 329 2901