Debt Management Plans
What is a Debt Management Plan?
A debt management plan is an informal way to repay your using one monthly affordable payment. A debt management plan is put together and administered by a third party company (a debt management company), they will:
1) Negotiate with your creditors to accept a reduced monthly payment, based on what you can afford.
2) Negotiate to freeze interest and charges on all of your accounts
3) Distribute any monies you send to them, after deducting a management fee
4) Manage the day to day running of all your accounts
Useful Links
Debt Management Plans
Debt Management - Pros & Cons
Debt Management - Criteria
Debt Management - Steps
Debt Management - Overview
Debt Management Vs Consolidation
Debt Management Vs IVAs
Debt Management Vs Bankruptcy
Debt Managament - FAQs
Debt Management - Glossary
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