Debt Management In The UK Has An Option No Other Country Has | Debt Management Solutions
Since not everyone with UK debt problems will qualify for an IVA, there are other means available at your disposal too. Debt management plans in UK will help to get you out of debt as well, provided that your debts are not so huge that it is actually impossible to repay them all. These plans are set up by debt management companies in the UK in the same way as they are in the US or anywhere else. The company will contact all of your creditors and see if they can get the interest rates drastically reduced. Usually credit cards are a big culprit when it comes to debt. People tend to misuse them and the interest rates on these cards are extreme. With the help of a specialist advisor you will be able to get those high interest rates reduced significantly. You will pay back all of the principal but not all of the interest. This will save you plenty of money. You will make a monthly payment to the debt management company who then pays your creditors.