Debt Management Plans Explained

Thousands of people in the UK are struggling with debt every day. In most cases it isn't as a result of careless or reckless spending. More often than not its a direct result of a change in circumstances caused by job loss, divorce, illness or another life changing event.

Debt Advisory Line was awarded the UK Debt Management Provider of the Year Award for 2008. You can be certain that whenever you contact us you are talking to and dealing with the most knowledgeable and customer friendly experts in the industry. In fact, thanks to our level of expertise in the area of debt management we are able to offer professional debt management help and advice to hundreds of people in England, Wales, Scotland and Northern Ireland every day.

What is a Debt Management Plan?

In short, a debt management plan (DMP) is a way of paying off your personal unsecured debts. This kind of debt spirals out of control quickly and even minimal payments (such as an outstanding credit card balance) are often made after their due date. Stress levels keep on rising in a deepening spiral as you become less able to pay off debts and interest payments and charges mount up.

Talk to Debt Advisory Line and let them help you take stock of your disposable income and the real extent of your debts. We can then roll those debts together and re-negotiate payment terms, interest rates and any charges with the people you owe money to - this is what is commonly referred to as a Debt Management Plan.

We work closely with hundreds of organisations around the UK so the rates and terms we are able to secure, which are based on the lenders being more confident of seeing some of the outstanding money you owe them, are extremely favourable. Repayment terms that are put forward by us to any creditor need not be accepted by the creditor but once we have looked closely at what you truly have as disposable income, creditors are re-assured that you are making every effort to settle your outstanding unsecured debt with them and trust us to provide them with as much as you can realistically afford to pay monthly having already budgeted for priority expenses such as your mortgage or rent, utilities and food.

As a debt management provider we distribute your agreed 'disposable income' to your creditors on a pro-rata percentage basis. The creditor you owe the most to receives the largest percentage of what you can afford and the creditor with the least amount owed receives the smallest percentage of your new monthly payment.

Why would I choose Debt Advisory Line?

Our debt management plans allow you to make one affordable monthly payment. We deal with all your creditors on your behalf so you don't have to. Our debt plans may reduce or freeze interest and charges, subject to your creditors agreeing to this.

Every month we provide you with a statement showing you who has been paid and what amount they have received. At any time you can also contact your very own Personal Account Manager who will help you every step of the way through to the day when you have repaid your debt.