Questions:

• Debt Management
• How do I know my debts are being paid?
• How long will the Debt Management Plan last?
• How much will I have to pay?
• Who administers the Debt Management Plan?
• Will a Debt Management Plan affect my credit rating?

Answers:

• How do I know my debts are being paid?
  

  Each month you will be sent a breakdown of payments sent to your creditors. In addition to this you will receive statements from your creditors.

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• How long will the Debt Management Plan last?
  

  This depends upon you. You will have a lot of flexibility in the Debt Management Plan, every six months we will automatically review your circumstances. If you feel you can afford to pay more, increase your payments to clear your debt quicker. However if you are struggling with the payment we can reduce your payments further - this will increase the period you will be on the Debt Management Plan. On the initial call we can give you an estimated time scale of how long we think it will take you to be debt free. Remember this figure will just be a guideline and it is based on the figures which you give to us.

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• How much will I have to pay?
  

  This depends upon what you can realistically afford to pay - we will run through a thorough financial statement taking into consideration all of your essential bills.

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• Who administers the Debt Management Plan?
  

  Here at the Debt Advisory Line you will be assigned your own Personal account Manager who will look after you every step of the way. You will not be passed around a call centre.

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• Will a Debt Management Plan affect my credit rating?
  

  As you are already experiencing financial difficulties, it is possible one of your creditors has recorded an adverse finding against you. However by using the Debt Management Plan we will ensure regular payments are made to each of your creditors.

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