What is Debt Management

Debt Management is a process whereby we negotiate informally with your unsecured creditors in order to obtain a reduction in the contractual repayment amount and/or a reduction in interest/charges being levied by the creditor. In order to achieve this we are required to provide proof to the creditors that you are unable to meet all your current liabilities.

A successful debt management plan can get your finances back on track whilst enabling you to lead a reasonable life, and lift the fear of individual voluntary arrangements (IVAs) or bankruptcy.

 How Debt Management can help you

Bad debt can lead not only to individual voluntary arrangements but ultimately to bankruptcy. A professional Debt Management Company like bdebtcleardirect can be a real saviour in such situations, and lead to long-term financial stability.

The Debt Management Company works for you and does all the hard work - assessing your financial situation,  preparing financial statements and budgets for you and dealing directly with your creditors.

Debt management companies are experienced in dealing with creditors and debt collectors (who are not usually the friendliest or most sympathetic people), and their help can prove invaluable. The very involvement of a debt management company in your financial affairs can directly help your situation by showing the creditors or debt collectors that you acknowledge your debt problem and that you have enlisted professional help to solve it. This makes a satisfactory conclusion to your debt repayment negotiations more likely.

The final result of all the debt management company’s hard work will be a Debt Management Plan which enables you to make a single affordable monthly payment covering all your unsecured debts.