Is it REALLY free?

Yes, it is. These debt management companies are paid instead by your creditors who give them a percentage of the amount collected for them. It is beneficial all round; Your creditors get back most of what they are owed, which they wouldn’t if you declared yourself bankrupt, the debt management company receives a fee for their services and best of all, every penny of the money you pay goes towards paying off your debts.

Despite this, some people still opt for the fee-taking debt management companies. As you can imagine, the debt management companies who offer their services for free are very popular – and busy – so some have found it quicker to arrange their debt management plan through a fee-taking company.

What to do now

You may be surprised at how much you can achieve without the help of a debt management company. Find out more by reading our ‘Debt Management DIY’ article.

Helpful debt management plan links

Debt management DIY
Debt management plan
Negotiating with creditors
How can a debt management company help me?
Debt management alternatives

Remember, Advance with Finance is a completely free, impartial service. Although the information on this website is provided by industry experts, it should never replace the advice of a debt adviser who understands your individual circumstances.

What is debt consolidation?

Debt consolidation simply means replacing multiple loans with one new loan. If you have debts with different creditors, you can combine them into one loan using a debt consolidation loan.

Find out more about debt consolidation here >>