What is a Debt Management Plan?
A Debt Management Plan (DMP) is an informal arrangement between you and your creditors which allows you to repay your debts, normally in full, at a rate that you can afford without relying on further borrowing. If during your DMP you are able to offer creditors a lump sum to settle your debts, it is possible to agree discounted settlements.
Advantages and Disadvantages of a DMP
A debt management plan needs to very quickly get your debts under control and relieve the stress of debt but there needs to be a longer term plan to clear your debt.
A Debt Management Plan is designed to allow you to pay what you can realistically afford to your creditors each month. Sometimes creditors will agree to accept reduced payments and freeze or reduce interest charges.
What does the service cost?
The fees we charge we believe are fair and cover:-
During the first 6 months of your plan there may be an additional charge to the work of setting up your plan.
All debt solutions should be very carefully considered. Fees will be charged if a solution is taken in order for us to set up your plan and maintain it – all fees will be outlined during your consultation.
DON'T DELAY ANY LONGER, BOOK YOUR DEBT MANAGEMENT CONSULTATION:
Office: (246) 421-3328
Cell: (246) 233-3328