Debt management Plan

Frequently asked Questions

Is your service confidential?

Our clients understand and appreciate the importance of your personal data. We work with clients who are licensed under Data Protection and Consumer Credit Act, all your information are kept fully confidential. They are used for any other reason but to asses your application.

Will I need a credit check?

It is not necessary to have a credit check. However, some circumstances may mean you get a credit report to satisfy the procedure.

What happens to my credit report?

No one fully understands what may or may not affect your credit report. However, making arrangements to pay off your debts will more than likely improve your credit history.

What is the length of this plan?

This depends on the amount of money you owe to your creditors and how much you can afford to pay back. However, a debt management plan means your creditor may reduce or freeze the interest rate on your loans which means the time will be shorter than you you expect.

How much will I be paying every month?

This also depend on the loans and money you owe. Our clients will make arrangements on your behalf with your creditors to pay back the money you owe them. Therefore it is crucial you keep making the payments on time, failure to do so may cancel your arrangements. Some or our clients will have a minimum threshold to how much they can accept on your behalf. Be sure to double check this at the time of signing up.

Will I continue to get letters from my creditors?

Your creditors may or may not contact you. Since this is an informal arrangements, and not a legal binding. Creditors however, will take into account that you are making regular repayments. This will result in gradual reduction in communication your creditors have with you.

Is it possible to cancel my Debt Management Plan?

Some of clients will allow you to cancel your plan. However, be advised that cancelling this kind of arrangements mean your creditor are more than likely to resume any frozen or reduced interest rate.