Set Up A Debt Management Plan Today!

 

You might be asking what is a debt management plan? A debt management plan is an agreement set in place between a creditor and yourself that states when and how you will make settlement of your outstanding account. A management plan of this type is usually taken care of by a debt counsellor who will collect payments from you and pay the various creditors on your behalf. The amount of money you pay over to the debt counsellor will be worked out on how much you can realistically afford. This is then paid over in a fair portion to each of your creditors.

Setting a debt management plan in place is seen as a new contract to settle your outstanding debts in full. In many situations the creditors will agree to cease charging interest, but this is not always the case and should not be expected. It is also vitally important that you choose a debt counselling team that has a good reputation and experience in the business. Failure to get all your creditors on board could result in you still being handed over.

Some of the advantages of debt management are that you will make one monthly payment that will settle all your outstanding debt, you will be provided with a great amount of stress relief knowing that your creditors will not be handing you over or taking legal action against you and you will often receive a reduced repayment rate.

If you find that you are unable to afford your monthly expenses or see it becoming a problem in the near future, then it is advised that you seek out the services of a debt counsellor. Don’t leave it until it’s too late.

Take the time to contact Debtcor and discuss the various options available to you. You will find that having a professional team on your side can lift the burden of financial debt from your shoulders. Gain control of your financial future today – set a debt management plan in place with Debtcor. 

 

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