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.

	Brits ‘caught in payday loans downward spiral of debt trap' Consumers relying on payday loans are getting trapped in a downward spiral of debt caused by exorbitant penalty charges, new research reveals.
	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.
	Loyalty costing consumers £780 a year, site warns Consumers would be better off mixing and matching financial products rather than sticking with the same provider for everything, according to MoneySupermarket.
	Clinton Cards on the verge of administration Clinton Cards is on the brink of administration after its biggest supplier said it would pull the plug on its credit, potentially putting 8,000 jobs at risk.
	Mortgage lending recovery fades as stamp duty break ends The flurry of lending activity in the housing market at the start of 2012 could be on the decline now that the stamp duty holiday has ended, new figures suggest.