Debt Management Example
Debt Management is a potential financial solution that could allow you to reduce your current monthly payments to your unsecured creditors to a more affordable amount without having to borrow more money.
Here is an example of how a Debt Management Plan could work for you:
Example of what your debts may look like:
Credit card: £5,000
Personal loan: £6,500
Personal loan 2: £1,750
Store card: £3,250
Total owed: £16,500
Current monthly repayment: £575
After a Debt Management plan
New monthly repayment: £225
New monthly repayment is based on affordability and varies from plan to plan from our debt management company.
The Payment Calculator
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IVAs
If you have 3 or more creditors and owe more than £15,000 in unsecured debt, it is possible that this solution could be the most suitable for your circumstances. In addition, you must be employed and have surplus income of £200 per month. Discover more…
Trust Deed (Scotland)
If you have 3 or more credit agreements and owe more than £10,000 in unsecured debt, it is possible that this solution could be the most suitable for your circumstances. In addition, you must have surplus income of £150 per month. Discover more…
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