Loans and Debt Management

If you have loans that you cannot pay at present you may be looking for a debt solution. It is not uncommon to accumulate a number of loans over a period of time, never thinking that it may not be possible at some time to service the debt that is being taken on.

It is sometimes forgotten that past commitments go on for quite some time and Loans as well as credit cards and store cards can build up, so that after even a short period of time, these credit commitments can add up to a sum that cannot be paid on proper terms.

We get calls to our free help line from people with loans who now cannot service their monthly commitments. We are always able to offer debt solutions to our callers, which may range from debt management to bankruptcy.

If the debts that you have are £15,000 or less and there is the ability to make payments of £100 or more from disposable income then it is very likely that one solution offered will be debt management.

A typical loan repayment may be several hundred pounds per month. If two or more loans have been accumulated, then a significant loan schedule will be due. These sums can be cut by three quarters with a good debt management plan.

The debt management company will often be able to get the loan company to stop interest accumulating, and charges from being imposed. The Loan company may accept lower payments in lieu of the full payments, which will make the loans easier to service.

The debt management company will charge the first months payment as a management charge, and then about 15% of each subsequent month as a management fee.

In return for this the debt management advisors will collect in and distribute your money each month to your creditors, they will handle all correspondence, and make sure that matters run smoothly.

It will be possible to run the plan this way for as little or as long as required.