Debt Management Group

Expert debt management advice to anyone with debt problems

The debt management group of advisers at Money Advice Direct offer debt advice services in the UK. The debt management group of advisers offer debt management advice to anyone with debt problems on how to get out of debt,

Credit cards, store cards and personal loans account for a large amount of national debt. Debts have never been higher and the public are struggling to meet their interest repayments, never mind the actual debt.

With so many people experiencing financial difficulty, our debt management group can offer the support you need to become debt free (subject to terms and conditions). The debt management group's programs give you the information you need to pay off your creditors.

The debt management group offer advice to thousands of people experiencing these kinds of debt problems every year.

Our debt managers are experienced in developing debt management plans that collate debts together into one total amount, and then negotiate with creditors to lower the interest repayments. Your incoming and outgoing finances will be assessed to evaluate what you can afford to pay each month, and then a time schedule for becoming debt free (subject to terms and conditions) can be created.

This is so popular with most people experiencing debt problems as it is easy to manage, there are no legally binding obligations and it provides light at the end of the tunnel. The following are some of the procedures available from the UK debt management advice group at Money Advice Direct Debt Advice Service.

You can call 0800 074 6918 and get detailed advice from Money Advice Direct debt management group. The team will advise you about your debt management options and receive some sound advice about how to tackle this issue.

IVA

The debt management group can provide you with helpful information on how an IVA can benefit you.

An IVA (Individual Voluntary Agreement) is usually similar to a debt management plan, but often set out over a 5 year repayment schedule and legally binding. A licensed insolvency practitioner must be present when the agreement is made due to the legal implications.

IVAs can be conducted discreetly and without bad publicity, unlike bankruptcy and businesses are allowed to run as normal. Investments, property and possessions may be seized to finance the debts if the payment schedule is broken at any point.

Bankruptcy

The debt management group would collectively advise that bankruptcy is a severe measure and has lasting implications. Those with no way of repaying the debts, such as the retired, unemployed or those on long term incapacity benefit, may find declaring bankruptcy as the only way to clear debts as they have no or little income.

If bankruptcy is the right option, it can release the burden, stress and depression that builds up from creditors chasing money. However, any savings, investments, assets or businesses will be sold to cover the value of the debt. Please note that a debt management company or group can help you file bankruptcy and pay off your debts to provide you with a clearstart.

Money Advice Direct is an established provider of confidential and non-judgemental debt advice in the UK on serious debt problems. Whatever solution we recommend, honest, best advice is available 24 hours a day, 365 days per year. If you are in debt call us without obligation today on 0800 074 6918 or apply for debt help online and get advice from a debt management group.

Listed below are some of the frequently asked questions on Debt Management Plans

• How do I know whether a Debt Management Plan is right for me?
• What are the advantages of a Debt Management Plan?
• What are the disadvantages of a Debt Management Plan?
• Is a Debt Management Plan a type of loan?
• How long will I have to pay a Debt Management Plan before I am debt free?
• How much does a Debt Management Plan cost?
• How much money will actually go to the companies I owe money to under a Debt Management Plan?
• How do I make the payments?
• If I have a change of circumstance can I stop the Debt Management Plan?
• Who tells the companies I owe money to that I am actually in a Debt Management Plan?
• Will the companies I owe money actually accept a a Debt Management Plan?
• How a will Debt Management Plan affect my credit status with Experian, Equifax and Callcredit, the three main credit reference agencies
• Will a Debt Management Plan stop all the companies that I owe money to constantly telephoning me and sending me letters?
• Will I receive a regular report to inform me that my debts are actually going down?
• After the Debt Management Plan is set will I receive be able to get any additional help and advice?
• After the Debt Management Plan is set up can I still use a credit card or apply for car finance if I budget for it?
• Once the Debt Management Plan has been set up does it mean that I will have to keep paying interest and bank charges?
• Can I include secured loans in a Debt Management Plan, such as car finance or mortgage?
• Can the companies that I owe money to threaten to take my house or flat once that I am in a Debt Management Plan?
• Can I include all my debts in  a Debt Management Plan?
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