Debt management companies negotiate with your creditors on
your behalf, usually for a fee that you have to pay. The aim
is to try to persuade creditors to agree to lower your repayments.
There are two potential drawbacks. The first is that you
have to make sure you don't choose an unscrupulous company.
The second is that you will still have to pay off all your
debts, often for longer periods thanks to rolled-up interest.
That means you can simply end up owing more and more.
If our best advice model does identify debt management as
the most appropriate answer, we can help you achieve the best
possible plan – one that makes sure your debts don't
grow or get rolled up. We will charge you no fees and your
creditors will pay the costs of setting up the plan.
