What is Debt Management?
A Debt Management Plan is an informal agreement between the debtor and their creditors. This type of plan offers the debtor to make reduced payments to their debt. The debtor makes one low payment to a debt management company, and the funds are evenly distributed.
I've been Refused A Loan - Is Debt Management for me?
If you find that you are struggling to make your monthly payments and you have been refused a loan in the past, then a debt management plan might be an ideal debt solution.
As it is an informal agreement, it allows you much more flexibility with your payments, so if your circumstances change then the plan can change accordingly.
For free advice and information about Debt Management Plan, call Refused A Loan free on 0800 048 1769.
Debt Management Plans are for unsecured debts only. The key benefit is the ability to only repay what you can afford each month. Clearly, the consequence of this is that it will take longer to repay your debts. You will receive allowances to pay Secured and Priority debts. Whilst you pay our initial fee, monies are not distributed to your creditors. Where contractual payments are missed your debt and repayment term could increase. Terms and Conditions apply.
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.