Debts spiralling out of control?
We can help you onto the road to financial freedom!
Debt Management Plans (DMPs)
Many of the people we speak to earn good salaries and could actually pay off their debts,
if they could just get on top of them and manage them more effectively.
This is where a Debt Management Plan may help.
In a debt management plan (DMP), we talk with your creditors on your behalf and restructure your
monthly repayments to an affordable amount. These repayments can run over any length of time.
Our debt specialists will negotiate with your creditors and may be able to have your interest
frozen and arrange breaks in your repayments. We will definitely cut your monthly repayments
and help you regain control of your expenses.
Repaying debts over a longer period of time may increase the total amount to be repaid.
Your ability to obtain credit will be affected in the short term, and possibly in the medium to long term.
Our DMP is based on expert advice and our policy is to be completely up-front about set-up
costs and management fees. Above all, we will only recommend a DMP when you can afford one and it is the
best solution for you.
Advantages of a Debt Management Plan
- Your monthly repayments will be reduced
- You may be able to freeze interest on your debts
Disadvantages of a Debt Management Plan
- Your debts will not be reduced
- You may be paying your debts off for a longer period of time
- Interest may grow if your creditors do not agree to freeze it
