Debt Management Pros & Cons
If you have been refused a loan, you may find that a debt management plan is a better loan alternative for you. As a Debt Management Plan is a financial agreement, and it is essential that you are aware of both the debt management pros and cons, before you decide that it is the right decision for you.
For advice and information about debt management or other loan alternatives, please contact Refused A Loan on 0800 048 1769.
Debt Management Pros
- Only one payment to make.
- A payment that you can afford.
- Consolidate your debt without the need for a loan.
- We will deal with your creditors on your behalf.
- The plan can change if your circumstances do.
Debt Management Cons
- Creditors are not legally obliged to stop any additional interest or charges.
- It will take you longer to repay your debt.
- You will have to pay back all your debt.
Refused A Loan is a trading style of Ask Finance Ltd (Registered in England and Wales. Company number 4229724), a wholly owned company of the Harrington Brooks Group Ltd. Ask Finance Ltd is licensed under the 1974 Consumer Credit Act to carry on the business of consumer credit, consumer brokerage, debt adjusting and debt counselling. Consumer Credit License No: 507130. Ask Finance Ltd is authorised and regulated by the Financial Services Authority - FSA No: 300490 - for the provision of mortgage advice and arranging insurance.