Debt Management Plan from MoneySave Debt Solutions

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Your Situation

Your Total Debt... Up to £3,000 £3,001 - £10,000 £10,001 - £20,000 £20,001 - £30,000 over £30,000 Employment Status... Full Time Part Time Self Employed Unemployed Your Location... England Wales Scotland Northern Ireland Number of Creditors... 0 1 2 3 4 5 6 7

About You

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Debt Management Plan

A Debt Management Plan or DMP is designed to take the financial pressure off you by allowing a licensed Debt Management Company (DMC) to act as your confidential debt advisor.

We are licensed to provide debt advice and to recommend the right provider for you based upon your personal preferences, which may include wanting a face-to-face meeting in the confidentiality of your own home or working with an expert advisor over the telephone. Our partner will:

• Notify your creditors as soon as we have your authority and credit account details
• Negotiate with your unsecured creditors, offering immediate breathing space
• Work to stop debt collectors chasing you
• Reduce debt repayments into one affordable monthly amount
• Reduce or freeze interest and charges in the majority of cases
• Allocate an experienced Personal Case Manager for the duration of your DMP
• Allow you to regain control of your finances

Important Points to Remember

• Whilst lenders are not obliged to freeze interest & charges, in over 90% of the cases currently handled by our debt solution partners, lenders have done so. Where a lender does not freeze interest and charges the amount you owe and the period over which you repay that credit account may increase, though requests to freeze interest and charges will continue once several payments have been made to your Debt Management Plan (DMP).
• Whilst entering into a DMP can adversely affect your credit rating it is our experience that those who approach us already have an impaired credit record. By entering into a DMP you will be showing your creditors that you are taking a responsible attitude to resolving your financial problems and this could help you in the future.
• The pros and cons of a DMP can be reviewed in the document 'In debt? Dealing with your creditors'
• Any fees applicable will be clearly explained before you commit to any debt solution and all partners offer a cooling off period in excess of the minimum requirement of the Debt Management Guidance.