Debt Management Solutions

UK Credit has the experience and resources to implement every debt management option available, and to advise on the financial solutions that are appropriate for each individual.

It may be that you are having difficulties in meeting mortgage payments or other repayments to creditors; perhaps, because of circumstances in the past, you have a poor credit rating, which is impeding you from raising funds for an essential project. Financial difficulties may have been caused by an illness, job loss or the break up of a relationship, and you may simply need some breathing space in order to consolidate your financial position.

But whatever the problem, UK credit with its nationwide Debt Management UK network, can find the ideal solution. Our methods are straightforward: Once we have assessed your overall financial situation, a debt management program will be formulated. This will take into account every aspect of your financial situation, including how much is actually owed to your creditors and how much you can afford to repay on a monthly basis in order to reduce the debt.

Throughout the entire process our appointed debt management advisor will keep you informed of every aspect of the debt management solutions being implemented on your behalf, including responses from creditors.

All information given to UK Credit and any enquiries made on your behalf will be strictly confidential under the regulated terms of our Debt Management Services code. To find out more details, simply contact one of our experienced debt managers now or contact us online.

Debt Management Plan (DMP)

Once UK Credit has thoroughly assessed your overall financial situation, a debt management plan (DMP) will be designed specifically for you. An experienced debt advisor will guide you through the aims of the DMP.

A typical plan might involve the formulation of an Individual Voluntary Arrangement (IVA), which will establish the maximum amount, which must be sustainable and affordable, you are able to pay each month in order to reduce your indebtedness.

In order to do this, the debt manager will need to know the full extent of your financial situation. This information will be treated in the strictest confidence. A financial statement will then be prepared, together with a budget, which will be an agreed amount that you can comfortably afford to pay each month. The debt manager may then contact all your creditors, assuming you may have more than one, and negotiate to pay a reduced amount based on the budget already agreed.

Once an acceptable amount has been agreed, UK Credit will arrange to pay this sum directly to your creditors, usually on a monthly basis. Apart from reducing your payments, another benefit of the plan is that you need have no further contact with these creditors.

You can leave everything in the hands of UK Credit. The only stipulation insisted upon is that you are committed to making these payments for the length of time required to resolve the debt. Failure to keep to this commitment may result in an even poorer credit rating and further difficulties in the future.