– some handy debt management tips

15th of November, 2010 Bookmark and Share
Many people experience debt problems at some stage of their lives but the key thing to remember is that you must tackle them head on.

One of many options open to you is to create a debt management programme, which can significantly reduce total monthly repayments on your unsecured debt. Ultimately, this means peace of mind in knowing that your finances are on the right track.

There are a number of companies providing UK debt management programmes, including, so remember to compare the market and find one that is appropriate for your needs. Once the decision is made that you wish to tackle your debts through a debt management programme, your next step should be to get professional debt advice to examine your existing income and outgoings before seeing if a debt management programme will work for you.

The programme details how much you need to repay your creditors on a monthly or weekly basis. This type of programme can include unsecured debts such as store cards and credit cards. Creditors are then paid pro rata by your debt management company, often once their fees have been deducted, which should also set aside sufficient money for you to comfortably live on until the repayment schedule is finished.

Plenty of people find that debt management programmes have made a real difference to their lives. But if you still aren't convinced, there are viable alternatives out there such as debt loans. These debt loans can provide you with the funds to make your latest repayment without having to enter into the process of formally negotiating with creditors. Always seek professional advice and be aware of the penalties of taking on more debt if you are already struggling to make payments.

To find out more about either debt management programmes or debt loans, get in touch with

Richard Frost is a trading name of Ask Finance Ltd, a wholly owned company of the Harrington Brooks Group Ltd. through Ask Finance Limited is licensed under the 1974 consumer credit act, who issue guidance to ensure that our advice is ethical and professional. We are covered by the data protection act which protects client confidentiality.