Just a warning - if you are on an IVA at present DO NOT trust a letter you would of probably already received or you will soon from this company, they are a fraud!!! nBE CAREFUL!!! nTheir website is a clone of some other debt management company.ncheck out the following - nhttp://www.moneysupermarket.com/community/forums/t/the-iva-council-do-not-believe-their-claims-12677.aspxnhttp://www.debtquestions.co.uk/debt_forum/viewtopic.php?f=4&t=21367

I don\’t know how ideal to answer the summons. I have saved almost enough money to probably settle with the credit card company. I will get paid and have the last of the money in hand two weeks after I have to answer the summons in writing. Should I put this information in the answer or just answer it generically and hope they settle when my debt management company contacts them. My debt management company won\’t contact them til I have the rest of the money in the settlement account.

I have over $20,000 of credit card debt. I am able to pay them off slowly now, but I am thinking of consolidating everything with a debt management program. This program said they will close all my accounts and all I have to pay is a low monthly payment of $500 a month for all my credit cards. Is this a good deal? I am not sure. Thank you for reading and thank you for your time.

Are you frustrated of the innumerable calls from your creditor, and you are really incapable of paying the debts? You don’t have to worry anymore; these debt management plans are always there to help you out of this wearisome condition. When you opt for these debt management programs, your debts will be managed by the companies offering it.

Understanding debt management

Debt management plan helps you pay the debt from the money left in your income after you pay for all your living expenses and household bills. The debt management company takes a fixed monthly payment from you, which is then forked out to all your creditors. These debt management companies can manage any debts between £3000 and £250000. One of the advantages of these debt management plans is that the charges and interests are frozen and your debt doesn’t increase any further. Usually these companies don’t ask for charges but sometimes they ask for 15% to 17% of the monthly payment as a start up fee. These debt management companies deploy loan consultants who negotiate with your creditors on your behalf on the interest rates.

Benefits of debt management

After employing these debt management companies you will not receive any phone calls or mails from your creditors. It is the responsibility of the debt management company to sort out things with your existing debt. These debt management plans cover a wide range of debts like personal loans, credit card, store card debts, catalogs, and overdrafts. The monthly repayments are fixed and well within the limits of your capacity so that you can enjoy your normal life. These management plans can reduce your monthly installments up to 75%. You can just sit back and relax while these debt management companies take care of your debts.

Things to remember about debt management

It is obligatory that you check whether the company you approach is registered. Since these companies take money from your account to pay your debts, it will be wise not to use your company account. Debt management plans are not legally binding so the creditors may take actions against you. But these can be easily dealt with.

So, don’t get fed up with your soaring debts and employ these debt management companies to take care of it and enjoy a care free life.

Myself and my soon to be fiance are in a lot of credit card debt. Between the both of us we always pay our bills on time but now it is starting to become a problem where it is getting overwhelming. I want to get a loan to pay off everything in 4-5 yrs but don\’t want to work with a debt solution company if it is going to hurt our credit.