Debt management is an way to help people struggling with debt. Usually if a person is in debt they will probably owe money to many creditors. Debt management is designed to help people reduce their repayments back to their creditors. Debt Management can be achieved by spreading the payments over a longer period of time, thus making them more manageable.
During a debt management program we will designate a professional debt counsellor who will calculate the amount you can afford to pay after giving consideration to your priority debts, for example, mortgage, utility bills, council tax and other living expenses. Any money left over after your priority debts have been accounted for is classed as your ‘disposable income’. This money will then be distributed to your non-priority creditors.
For more information about debt management click the link below where you will be taken to our quote page, which enables our advisors to assess your debt management application to provide free, no obligation advice on the most suitable option to take tailored to your personal situation.
Advantages & Disadvantages of a DMP
Apply for more information about debt management
Conditions apply. Please note that repaying debt over an extended period may increase the total amount of debt to be repaid. Transferring debts to a financial management plan will affect your ability to obtain credit in the short term. Your ability to obtain credit may also be affected in the medium to long term. Dissolve Debt Ltd are fee charging financial management consultants licensed under the Consumer Credit Act 1974, Number: 563918
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