Negotiating a Debt Management Plan

When choosing a debt management plan, it’s important to have a professional debt advisor on your side to negotiate what your new repayments should be with your creditors.

The thought of calling creditors to ask if you can pay less understandably strikes fear
into most people who find themselves in debt. With Debt1 you only need to give us the details of who your creditors are, how much you owe them and how much you can afford to pay and we will do the rest.

Your debt management plan will then start with your new affordable monthly payments that we’ve negotiated on your behalf and we’ll collect the payments from you and forward the money to your creditors.

Before you enter into a debt management plan you need to bear in mind that it’s only an informal agreement and if any of your creditors decide to go back on this at any point in the future then they are perfectly within their rights to do so.

So even though your monthly repayments may become manageable in the short to medium term, in the long term you will still be required to pay all your creditors back in full.

If you want to discover a fuller picture of the pros and cons of a debt management plan, our professional debt advisors will be able to help.

Call Debt1 now and speak to an advisor in confidence.