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You may be surprised at how much you can achieve without the help of a debt management company. Many people negotiate reduced payments with their creditors even getting them to freeze interest and charges on their accounts. If you have decided to go it alone, the following article will provide you with valuable advice on how to do this successfully.
Abacus – debt management company overview
Abacus are a debt management company based in Cheshire. They have been helping people for over 7 years and have helped over 10,000 people. Abacus also offer other solutions such as IVAs, loans and mortgages, as well as free debt advice.
Advantages of Abacus
Abacus are a complete 'debt solutions company'. This means they specialise not only in debt management services, but also in many other debt solutions that could suit you circumstances better. For instance, you may contact them regarding a debt management plan, but after a discussion with one of their advisers, you may decide that an IVA or even a loan could be a better solution. Using a company who only offer debt management, you would net benefit from this opportunity.
With over 7 years of experience and over 10,000 people who Abacus have helped, you can also be assured that you are dealing with a reputable company who have a proven track record of success.
Disadvantages of Abacus
Like many other debt management companies, Abacus charge for their services. Their website currently states that your first months payment (minimum of £100) is used to set up the debt management plan and thereafter an administration charge of 17% is taken from your monthly payments. The obvious disadvantage when compared to debt management companies who offer their services for free is that it will take longer to repay your debt.
Click here to visit the Abacus website
Click here to see more debt management company overviews
If you would like to know more about debt management please use some of the helpful links below.
Helpful debt management links
Debt management plan
Paylan overview
Baines and Ernst overview
Debt management DIY
Remember, Debt Advice 4 Free is a completely free, impartial service. Although the information on this website is provided by industry experts, it should never replace the advice of a debt adviser who understands your individual circumstances. You can visit the directory section of this website to find a list of companies offering these services.
What is debt consolidation?
Debt consolidation simply means replacing multiple loans with one new loan. If you have debts with different creditors, you can combine them into one loan using a debt consolidation loan.
Find out more about debt consolidation here >>