Debt management

A debt management plan can be put in place if an individual has debts that they are unable to repay on time. A debt consolidation plan can help to organise your debts and finances and come to agreement with individual creditors to form a plan that allows the consumer to repay the debt at a more manageable level.

With a debt management plan you can manage your finances and debt problems under a tailored policy offering a single affordable monthly repayment option, lower interest rates and without the hassle of dealing with various creditors.

There are a wide variety of companies that offer debt assistance but some are better than others so it is important to check the background of any company that you intend to use.

	OFT cracks down on debt management companies The Office of Fair Trading (OFT) has announced that, following an investigation, some 35 debt management companies have lost their Consumer Credit licenses.
	Italy's borrowing costs halve - but ECB deposits show distrust among banks There has been mixed news from the eurozone this week, with conditions easing for Italy but distrust appearing to grow between the banks of different countries.
	OFT warns debt management firms over cold calls The Office of Fair Trading (OFT) has warned six debt management firms to stop cold-calling consumers or face enforcement action.
	Debt problems 'biggest regret for Brits in 2010' Brits have highlighted debt problems as their biggest regret of 2010, new figures have suggested.
	Consumers work 45 days to repay debt interest in 2011 UK consumers will spend the first 45 days of 2011 working to earn the funds to pay off the interest on their debts.