Debt Management - helping you to reduce the monthly costs of your debt.

Are you struggling with your monthly repayments? Or have you been turned down for a debt Consolidation loan? A debt management plan may still be able to help.

• Repay only what you can afford each month. Your monthly repayments can be reduced significantly.
• You make one payment each month which is distributed fairly to your creditors.
• Chase Saunders will handle all communication with your creditors and negotiate to reduce repayments and freeze interest and charges on your behalf, although creditors are not legally bound to abide by this.

What is Debt Management?

A Debt Management or Financial Management Plan is coordinated by a specialist company on your behalf and provides a structured repayment schedule for your unsecured debts. NOTE: rescheduling debts will usually lead to an increase in the total amount to be repaid and may have an adverse affect on your credit rating.The amount that you repay each month is based entirely on what you can afford. It is paid by you to the debt management company and then divided fairly between your creditors. This is intended to have the effect that the creditors will stop contacting you and that interest and charges on your debts may be frozen so that any money that is repaid goes directly towards paying off your debts rather than to the lender, it is worth noting that creditors are not bound by law to adhere to this.

Can I apply for Debt Management?

Any UK resident with two or more creditors and over £1000 of unsecured debt can apply. If you apply for a Debt Management Plan, our advisers will guide you through the process by telephone, giving you professional advice on whether Debt Management is the right course of action for you.

What will Chase Saunders do for me if I apply for Debt Management?

• Act on your behalf to deal with all creditor letters and calls.
• A detailed income and expenditure sheet will be drawn up, allowing for all needs and most wants, and an affordable payment will be arranged according to these findings.
• Most importantly, peace of mind.

Additional advantages of Debt Management?

• One payment each month, no matter how many creditors you have.
• No hidden costs, all administration charges are covered in your monthly payments.

Debt News

Debt News Archive

• March 2010
• Febuary 2010