Want to talk to someone about Debt Management?
Fill in the form now and we will quickly assess your financial circumstances and tell you if debt management or other debt solutions are right for you.
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Debt Management: What's the deal?
Providing Debt Advice in Scotland
- Interest could be frozen
- No more creditor pressure
- One affordable payment per month
- You remain in financial control
- End date when debt free
- Alternative to bankruptcy
What is Debt Management?
Debt Management is an informal arrangement between you and your creditors (via a debt management plan), where you agree to make one affordable payment per month. It is managed by a debt management company who is responsible for all correspondence between you and your creditors.
Is it the right solution for me?
It's difficult to say without knowing your financial circumstances. The debt amounts for residents from Scotland applying for debt management vary. Typically people who have been refused any further loans seek the advice of debt management plans companies to assess whether a debt management plan may be suitable.
Debt Management : Points of concern
- It's not legally binding so creditors don't have to accept it
- If creditors don't accept it then legal action may continue or commence
- Credit ratings will be affected for up to 6 years
- If you proceed with a debt management plan there are usually fees involved - you will always be told these before proceding
Scottish resident? Seeking more advice on debt management? Complete our enquiry form to be put in touch with a specialist adviser now.
For further info, have a read of our Debt Management FAQ.
Scottish Debt Direct provides debt management plans as well as other solutions. Talk to our advisers to find out which debt plan best fits your financial circumstance.
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