Apart from having many years of experience in negotiating with creditors, debt management companies have often built up good relationships with many creditors through their dealings over the years. This means the debt management company can often succeed in getting creditors to agree to terms that would have been virtually impossible had you been doing it yourself.

You also benefit from having to make only one payment every month, instead of several. You make one payment to the debt management company and they will divide it fairly amongst your creditors.

It is also worth considering if you are the right kind of person to go it alone. Are you confident in yourself and your abilities, or would you find it reassuring to have someone to turn to for advice? Debt management is a long process and there can be a lot to deal with. Making the wrong decision can result in your debts taking even longer to be repaid and of course, unnecessary stress. 

What to do now

If you are feeling confident about dealing with your creditors, please read our ‘Debt Management DIY’ article for helpful tips in going it alone.

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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

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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. To get more help please visit out company overview page.