| What is Debt Management Plan |
| Debt Management Plan is an informal arrangement with your creditors for reduction in your payments, that aims to freeze any interest and other charges on your accounts.. If you have sufficient disposable income to cover your repayments then Debt management plan works out very well. You pay only one affordable monthly payment to us then it is shared between all your creditors. This will take an extended period of time but the debts will get paid off. |
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| What is Credit Repair? |
Credit repair refers to legally altering the negative remarks in a credit file in order to have a better credit rating. Many individuals are ignorant about Credit files, Credit Rating and Credit reference agencies, but the present day debt scenario demands that everyone is equipped with this information to ensure a better credit standing.
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| Credit Repair is possible only under certain circumstances and only for specific financial instances. It is not a possible to negate all the unfavorable ratings. Individuals should guard themselves against false claims made by phony companies that they will repair your credit no matter how worse. |
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| Will I be credit checked? |
| Since a management plan is not a loan you will not have to be credit checked. |
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| Will I receive a Default Notice? |
| You will be in default on your original credit agreement a creditor is therefore entitled to send you a Default Notice. Creditors send out Default Notices to protect their own legal position and they are often perceived to be worse than they really are. |
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| How much would I pay per month? |
It's different in every case, as the amount you pay would be based on what you can afford after you've accounted for your essential costs. If you'd like to know what it might cost you, please contact us.
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| Would I end up in debt for longer? |
| If you repay a debt more slowly, it'll take longer to pay off. On the other hand, your debts won't grow as fast (or at all) if your lenders agree to freeze or reduce interest and waive charges. |
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| Would I end up paying more? |
| Again, you might end up paying more if your debts accrue interest for longer because you're repaying them more slowly. On the other hand, remember our partners will ask your lenders to freeze interest and waive charges, which means your debts won't be growing as you pay them off. |
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