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0800 157 7254
Existing customers helpline:
0800 093 5322
Debt Example
Here's how a debt management plan can help you repay debt.| Catalogue | £735 |
| Loan | £625 |
| Credit Card | £1,568 |
| Overdraft | £4,697 |
| Total owed | £7,652 |
Benefit of a Debt Management Plan
| Current monthly payment: Term: 10 years (for credit card) | £492 |
| New monthly repayment:
Term: 3 years 8 months* |
£222 |
Our customers
Joe Mini gave us an excellent service and made the whole process more easy to cope with and to get to a final resolution we are very appreciative
Mr Ralph
Why Debt Advisory Line?
We aim to reduce debt in the shortest possible time. We are members of DEMSA - (The Debt Managers Standards Association). We adhere to the code of conduct as set out by DEMSA which aims to protect the interests of both consumers and lenders. The DEMSA code of practice is approved under the OFT (Office of Fair Trading) Consumer Codes Approval Scheme (CCAS).
Latest Debt Management News and updates from Debt Advisory Line
Ex Government Advisor says credit card interest rates are excessive
Mon 22nd Feb 10 - 16:48
Following on from our news story last week – highest credit card interest rates since 1998 – A former advisor to the Government has said that credit card rates ‘cannot be justified.’
Ros Altmann is calling for an enquiry into how the credit card industry sets interest rates. He says that credit card interest rates of around 18 per cent, the highest for over a decade, are excessive and he thinks there could be the need for a regulatory body to oversee how interest rates are set.
The Government is looking into some of the charges credit card companies make but this does not include the setting of interest rates.
The credit card companies say that failed payments during the recession are the reason why interest rates are so high. However, this is becoming harder to accept considering the all-time low Bank of England base rate of 0.5 per cent.
Craig Gedey, Marketing Manager at Debt Advisory Line said: ‘Higher interest rates simply mean higher repayments for customers.’
‘Interest rates of 18 per cent will surely only force the credit card customers already struggling with repayments, further into debt?’
‘Higher interest rates may also tip some customers ‘over the edge’ and into a situation where they miss a payment.’
‘Anyone who is struggling to keep up with repayment on any debt can speak to us at the Debt Advisory Line. We know how stressful debt is and work to help people under pressure pay off their debts by providing Expert Debt Advice.’
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