Personal

What is debt management?

A debt management plan is a way of repaying your unsecured creditors.  You make on reduced monthly payment to your debt management plan and we distribute the payments to your creditors on your behalf.  The accounts remain with your creditors, we make arrangements with them to accept the reduced payments and we also negotiate with them to stop interest and charges on your accounts.  You keep paying into your debt management plan until your debts are repaid in full and the accounts can be closed.

You could be eligible for a debt management plan if:

1. You have one or more unsecured debt
2. You are paying more than £100 per month to your unsecured creditors
3. You are struggling to make all your payments or you debt is getting bigger each month

Is a debt solution the best option for me?

The short answer to this question is, if you fit the criteria then YES.  Unless you have a lump sump of savings or a friend or family member is willing to clear your debts then you will have to come to an arrangement with your creditors to restructure your repayments.

A debt solution such as a debt management plan is not a magic solution, they do have their drawbacks but when they are suitable for you they can drastically improve your financial and personal circumstances.  We will only recommend a debt management plan to you in the following circumstances:

1. You have large shortfall in your disposable income because you are repaying unsecured credit.
2. You are missing payments to priority debts such as your mortgage/ rent and utilities
3. You are incurring excessive interest and charges due to missed payments and arrears.

If you are in this situation and do not seriously consider a debt solution you are very likely to incur additional debt because you will need to apply for further credit to keep up your repayments or because you are getting charged by the creditors for your arrears.  A debt management plan will ensure that the debt is kept under control because we make arrangements with the creditors and get interest and charges stopped or reduced.

A Debt Management plan with Refresh Money can:

1. Reduce your repayments to a level YOU can afford
2. Combine all your repayments into one monthly payment
3. FREEZE interest and charges on your credit cards and other debts
4. Stop letters and calls from your creditors
5. Help you become debt free!

And when you join a plan with Refresh Debt Services we offer you a 90 Day Money Back Guarantee, so if we don’t deliver what we promise you, we will refund any money you pay to us.

To see if we can help you with your store card and other debts, fill in the form below and one of our advisors will be in contact to assess your case today!

In just 20 minutes time you can have your payments reduced and have structured and affordable plan in place to repay all your debts!