As with an IVA, a debt management arrangement is an agreement between you and your creditors for you to repay any unsecured debts, but this is an informal agreement that we will make for you. Under the terms of the agreement that we will set out with your creditors will be the arrangement of a single monthly repayment that will be divided between them.
In you debt solution agreement that we arrange for you, a request that interest charges and penalties are stopped or reduced, meaning you repayment is now fixed and will not increase – this is not guaranteed with all your creditors. To qualify for a Debt Management agreement with Delete Debt, your combined debts must be more than £5000 and be with more than 2 creditors. Find out what DeleteDebt could do for you and get call back from one of our debt management advisors today
Will I need to sell my property?
You will not ask you to raise equity from your property to finance the repayment agreement.
What will my repayments be?
Your repayments will calculated on how much you can reasonable afford to pay; this will be negotiated with your creditors to reach a final sum which everyone agrees on. This payment will be made to us each month and distributed to your creditors.
How long does it take to set up a Debt Management agreement?
We set up the agreements very quickly, but it does depend on your situation, act now and get yourself debt free sooner.
What fees will be charged ?
Our fees are the 1st months payment contribution to set up the arrangement and 17.5% of the ongoing monthly payment will be retained to cover our costs.
For free impartial advice on how to manage your debts, call us today or arrange a call back.