What are the best debt management companies ?

Answer: A Debt Management Plan refers to all your unsecured loans. These are credit cards, or personal loans, utility bills, and even any department store cards that you may have. Repossession loans may also be included in any Debt Management Plan. However a mortgage or car loan, which is a secured loan cannot be included.

Answer: Creditors can indeed pursue legal action if you don’t keep up with the terms of your payment plan or they may simply change their mind about participating. But if you have a debt management agency administering the plan they will ensure that you adhere to the plan. If you don’t have an agency acting… Read More »

Answer: A consolidation loan, where you bundle all your debts together and then repay them with one single payment may be a good idea if you will be making lower payments each month. However, this may not be an option if you are in financial difficulty because your credit rating may be too poor to… Read More »

Answer: You should be aware that you are actually under no obligation to go ahead with any of the possible solutions that are suggested to you. Besides if you change your mind after agreeing to anything, then you can simply back out within 14 days as part of the cooling off period which is part… Read More »

Answer: Your credit rating will be undoubtedly be affected. All credit reference agencies keep accurate records of all your credit accounts. In addition if you fail to keep payments up to date and default, then a default notice will be made on your credit file. Any default notice is kept on your credit file for… Read More »

Answer: I think what you are referring to is called “statute of limitation” and generally means that if you have been contacted for payment within a certain time frame then you do not have to pay it. However, it’s not that straightforward and I would suggest you contact either Santander, debt advice specialist or a… Read More »

Answer: Without knowing the circumstances surrounding your own situation it is difficult to say right now. However, if you haven’t already spoken to a debt management company then it would be a good idea to discuss all the options available to you.

Answer: Yes of course we can help. Here at www.debtquestion.org.uk we can help you to choose the debt management company and the right debt solutions according to your financial situation and based on your individual circumstances, we will recommend a solution for you that is right for you. If you would like to discuss further… Read More »

Answer: Thank you for your question. What you are experiencing is quite common when you are in debt and trying to open a new bank accounts many banks will not accept you based on your current situation. There are a number of options open to you. Firstly you speak to a debt management company to… Read More »

Answer: Unfortunately not as most debt solutions will require some form of repayment whether it’s in monthly repayments or through the sale of your assets such as your home. For further advice you can speak to a debt solution company.