Debt Management companies are springing upward everywhere. These companies assist by “managing” your debt by taking one monthly payment from you and distributing the money amongst your creditors, with whom they’ve often arranged lower payments and lower interest. This is not a loan as with debt consolidation.

Sometimes folks get the two confused. However, because British people are up to their eyeballs in debt, the debt administration has become one of the fastest-growing industries today. Some Companies claim they can assist you with best interest rates and lower payments.

When you use one of these companies and so seek to have a Conventional, IVA or loan, you will be treated the same as if you had filed Chapter 13 failure.

Mortgage underwriting guidelines for conventional mortgages will regard your credit trashed, so don’t do it. Real debt assistance is establish simply in changing your conduct.

In brief, debt administration companies are out. Hard grafting is in. Change your financial behaviour and alter your living, for good! True debt administration is about one matter – you controlling your money.

If you still require assistance we would recommend DebtFreeSolution (DebtFreeSolution.co.uk) who will look after your interest.