If you are in Debt you may have heard or seen information about Debt Management Plans but would like to know more about them and how you can get one.
In this post I explain what a Debt Management Plan is, along with information about the different ways you can get one as well as links to find out more.
Free or Paid Debt Management Plans?
There are a large number of companies out there who will charge you to provide a Debt Management Plan. Some of these companies are good and some are not so good. Therefore it is important that you fully research any company you intend to use, and not feel pressured into signing up with them.
There are also organisations who can offer you a free debt management plan. I recommend two of them at the end of this post allowing you to find out more about them.
In my opinion, it doesn’t always make sense to pay for debt management. This is because ideally every penny you pay should go towards your debts. However in some instances it might be that you get a more personal service and perhaps better negotiation with your creditors when offering a settlement figure. However I cannot vouch for that.
I would say that the choice is yours. If you opt for a fee charging debt management plan then I would recommend you find out as much as you can about the company in question. For example: –
– Are there any complaints of the company on the Internet for example?
– Are there any reviews of the company on the Internet, if so what do the review say?
– How much will their services cost?
– Are they a member of DEMSA?
When it comes to free debt management plans there are a number of organisations who can help. Alternatively you could also help yourself if you would prefer to. I have a guide on how you can set up your own debt management plan on this blog. This is how I am currently managing my debt and it is working quite well for me so far.
Where can you get a free debt management plan?
You might be thinking that you can’t get a free debt management plan but you would be wrong. It is quite easy and below are two organisations who can help you with your debt problems:-
The above organisations can provide much more than just a debt management plan. For example it might be that your particular debt is not suitable for a debt management plan and instead an alternate solution could be recommended. They can also provide advice and support to help you with your debt problems. See more at the Debt Help page on this blog.