Debt Management Plan
A debt management plan is a good option for debts over £1500
- One single, affordable monthly payment towards all of your debts
- Interest frozen or reduced and all charges stopped
- Stop contact from your creditors, no more letters or phone calls
- Regain control of your finances and relieve the burden of your debt
- Dedicated advisor who will manage your account.
If you are struggling to pay back your debt then a Debt Management Plan from Burgess Bowen can help you. If you are behind on payments or simply cannot afford to keep paying what you owe then we have a solution for you. We offer a range of financial solutions and will assess your personal circumstances to find the best solution for you.
What is a Debt Management Plan?
A Debt Management Plan is a scheme that can help you pay back your debt at a rate you can afford. This is an informal arrangement between you and your creditors. You will make one single, affordable payment each month to us and we will distribute this between the companies who you owe money to. The aim of the plan is to have any interest and charges stopped or frozen to reduce the amount you will pay back.
How can Debt Management help me?
We will draw up a budget for you, taking into account your income and outgoings, to determine how much you can reasonably afford to pay towards your debts. We will make sure priority debts, such as your mortgage or rent and other household utilities are covered. Your monthly payments can be reduced to as little as £80.00 per month. We will also negotiate with your creditors to have any interest frozen or reduced and stop charges, helping you get on top of your finances.
What are the benefits?
A Debt Management plan is an informal arrangement and is not legally binding. It can be very beneficial if you are struggling to pay back what you owe and can relieve you of your financial burdens. Once the plan is in place we will deal with all of your creditors for you, meaning they will no longer contact you to obtain payments. A plan can be amended at any time, allowing you to increase or decrease your monthly payments, should your circumstances change. Your plan will be managed by one of our friendly advisors who will be able to take away the stress of your debts.
Speak to one of our friendly experts.
If you have any questions regarding a Debt Management Plan, just simply fill in the form opposite and one of our friendly experts will contact you.
Problems with debt? We'll put you in contact with people that can help.
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Debt Management
Debt Management Plan
A Debt Management Plan is a scheme that can help you pay back your debt at a rate you can afford. This is an informal arrangement between you and your creditors. You will make one single, affordable payment each month to us and we will distribute this between the companies who you owe money to.
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IVA
Individual Voluntary Arrangement (IVA)
An Individual Voluntary Arrangement (IVA) is a legally binding arrangement between you and your creditors. You will make one affordable, reduced payment each moth towards your debts. The arrangement will last for five years, after this time any remaining debt is written off and classed as settled. An IVA can write off anything up to 75% of your debt.
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Protected Trust Deeds
Protected Trust Deeds
A PTD is a legally binding arrangement between you and your creditors. You will make one affordable, reduced payment each moth towards your debts. The arrangement will last for three years, after this time any remaining debt is written off and classed as settled. A PTD can write off anything up to 85% of your debt.
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Remortgage
Remortgage
A remortgage (also known as refinancing) is the process of paying off your mortgage with the proceeds from a new mortgage using the same property as security. Homeowners may choose to remortgage for various reasons, including to reduce the size of your monthly repayments, to pay off a mortgage earlier, to raise capital, or to consolidate other debts.
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Loans
Loans
If you have a poor credit rating or are experiencing problems obtaining credit then it may be worth looking at loans offered to suit these circumstances. There are still options to help you get the credit you need. We can even help if you are suffering with defaults, CCJs or arrears. Whatever your circumstances, we can get you back on track.
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Debit & Credit Cards
Debit & Credit Cards
Pre-Paid cards ether debit or credit do not require any proof of income, so they are a quick and easy way to benefit from the convenience of a card without the risk of accruing debt, They work in much the same way as a pay-as-you-go mobile account. Load the card account with money & it can be used as you would any other debit /credit card.
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Bankruptcy
Bankruptcy
Bankruptcy is generally a last resort when it comes to debt solutions. If you are unable to repay your debts then Bankruptcy may be worth considering. A bankruptcy order will prevent your debt increasing and will technically give you a fresh start regarding your debts. It is very important you consider all options available and seek professional advice.