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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.
Debt management alternatives
If debt management isn’t the right solution for you, there are a number of other alternatives that may suit your circumstances better. Below is a list of the most popular with a brief description and a link to more information.
Debt consolidation
With debt consolidation you can combine multiple debts into one loan. This means your debts are easier to manage and you can often get a better rate too.
Read more about debt consolidation here
IVA
An IVA is a legally binding agreement between you and your creditors where, depending on circumstances, a large percentage of your debt can be written off.
Read more about IVAs here
Remortgage
Remortgaging can release cash tied up in your home to be used for a number of purposes. Most popular amongst these is paying off debts.
Read more about remortgages here
Helpful debt management plan links
Debt management DIY
Debt management plan
Negotiating with creditors
How can a debt management company help me?
How much does a debt management plan cost?
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.