A Debt Management Plan can be used to resolve any problem you may have with your unsecured debts. It is an informal arrangement suitable for people who do not have very significant debts, who may not have very high disposable incomes or who expect that their circumstances may change in the near future. If you are struggling to meet your current monthly commitments, we can negotiate reductions in your repayments to your creditors.

You will make one affordable payment each month, which will be distributed to your creditors on your behalf.

We will negotiate to try to reduce or freeze any interest or other charges on your debts, although we cannot guarantee this.

Your plan is fully flexible and can be changed at any time to suit your changing circumstances and needs. You can even cancel your plan at any time with no penalty to yourself. We keep your plan under regular review and, if we believe that an alternative solution has become available, we will tell you about it, so that you can make an informed choice as to what you want to do.

A full assessment of your financial situation is carried out. To do this, we need to know your regular income and expenditure, who you owe money to (your creditors) and any other relevant information about your personal circumstances.

By collating this information into a Financial Statement, we are then able to determine how much you can realistically afford to offer each of your creditors.

Your creditors will then be approached and asked to accept the reduced payments. In most cases creditors are happy to agree the plans we initiate because they know, from experience, that such plans are realistic and sustainable.

You then make a single monthly payment, which is distributed pro rata to your creditors.

Throughout the duration of your plan, you will have an assigned debt consolidaton advisor whom you can contact should you experience any difficulties whilst the arrangement is in place.

Your plan will be reviewed at regular intervals to ensure that it still meets your circumstances.

The plan will continue until your debts are cleared or until you wish to voluntarily end the arrangement. Most common reason for this being an improvement in income enabling a client to leave the plan and revert to their original monthly payments.

• You no longer have to deal with your creditors.
  
• You make one payment that you can afford.
  
• Your payments are re-evaluated frequently so that any changes to your situation can be taken into account.
  
• You only make one payment a month.

• Debt management plans are not legally binding so creditors do not have to agree to repayment schedules. However, if the arrangement works well the creditors will be happy to co-operate.
• Your surplus income is low and would therefore mean that you would be making the repayments for many years. If this is the case there are other options available such as a Scottish Protected Trust Deed or an Individual Voluntary Arrangement.

Debt consolidation is the process in which debt is restructured into one low affordable amount which you agree to pay. At DebtFC we offer a range of debt consolidation options Scottish protected trust deed, individual voluntary arrangement (I.V.A), remortgage, debt management plan, homeowner loan, sell and rent back or perhaps bankruptcy (sequestration in Scotland) our experienced debt consolidation team, will discuss your options and provide you with free debt help and debt advice on how to deal with your debt problems. We are based in Livingston, West Lothian, Scotland but help people throughout the UK.

If you recognise any of the following symptoms... then you need our debt help!

Credit card debts, missed loan repayments, creditors phoning, debt collectors, bailiffs, County Court judgements, bankruptcy, insolvency, mortgage arrears, repossession, robbing Peter to pay Paul, not opening the mail, afraid to open the door.
Our debt consolidation team will show you the options that you have available to get out of debt with one reduced, affordable monthly payment. For a NO OBLIGATION, FREE CONSULTATION, call or send the contact form for some friendly, free advice.