Find out what debt help is available:
- Find the right debt solution
- Lower debt repayments
- Stop pressure from lenders
- Clear unsecured debts for good
- Have just one low monthly payment
- No need for a loan
- Reduce debt with UK legislation
- Reduce Your Debts By Up To: 70%
Be debt free
Applying for credit card after credit card to create new funds to pay off the minimum payments on your existing credit cards and free up a bit of cash for a holiday to forget about your financial troubles. Sound familiar?
The borrowing rate in the UK is at an all-time high, and is showing no signs of coming down. But as more and more people get swallowed into the quagmire of debt by juggling debts between cards to pay off other accounts, the chances of them ever getting out of debt are rapidly diminishing.
Recent statistics showed that credit card debt accounts for 40% of all consumer debt. The average interest rate is 19%, and the average minimum payment is generally 92% interest and 8% toward the actual debt.
It is hardly surprising that after a couple of years of juggling amounts between credit cards, many people give up even opening their mail. Too many people set up direct debits for the minimum payments and then throw every envelope straight in the bin, unwilling to face up to their financial future. All too often, the amount they owe exceeds their income, and when they ignore the reminders, and the final demands, and the default notices, and the letters threatening legal action, it can lead to despair.
We can help a person break the cycle of debt and become debt free. Our partners Debt Management Plans can reduce a person’s repayments to creditors by spreading them over a period of time. It also takes the stress away from dealing with creditors. While on a debt management plan your provider handle all communication with creditors.
The schemes works on a single repayment plan, often referred to as a Debt Management Bill Paying Service. You pay one monthly fee, and your provider divides it between all your creditors. This means all their debts are consolidated into one monthly payment. They negotiate that payment according to their income, but before they do the maths, they deduct the essential living expenses – such as mortgage, their food and their telephone bill. As well as leaving you with only one amount to pay out each month, you are generally able to reduce the total amount you pay out every month by up to 75%.
This is done by contacting the creditors to inform them that you clients have enlisted the services of a debt management company, and as such are in a position to negotiate lower interest rates. In almost all cases, the creditors will put the interest on hold so that the debt is not escalating as fast as it is being paid off – the reason people find themselves struggling to keep their heads above water when they merely meet the minimum monthly repayment rate. Following a structured Debt Management plan is the most effective way of becoming debt free and in stress free manner.
If you are in need of debt management services or would like the benefit of our free, confidential advice, click the button below and send the completed form to us. Our partners will do their utmost to prevent you from becoming another debt statistic.