Cheshire, UK -- (SBWIRE) -- 10/11/2011 -- DebtManagement.co.uk, the UKs leading debt management advisory Website is proud to announce the launch of their new redesigned Website. The Website provides free advice from debt management experts as well as comprehensive information on differing debt management options for people throughout the UK.
The vast majority of consumers that take out loans, credit cards and other credit agreements intend to pay them back. However, in life, things change and debts can become unmanageable. After carefully considering a person’s personal circumstances, the experts at debtmanagement.co.uk are perfectly situated to become advisors on available options and their implications. “Our experts look at each individual’s circumstances and recommend the best solution for creating affordable and manageable payments that allow people to remain financially solvent,” said a Debt Management expert.
As a way to prepare potential clients before consultation, the Website provides comprehensive information on debt management options. These include creation of a comprehensive debt management plan that enables borrowers to repay debts at a lower rate. “Although consumers are not obligated to have us create a debt management plan for them, we do currently have a 98% success rate in this area,” said the expert.
The Website also explores Individual Voluntary Arrangements (IVA)—a government-approved way of solving debt problems designed as an alternative to bankruptcy. For those owing more than £12,000, an IVA enables debt consolidation to create affordable monthly payments, and allows the person to write off up to 75 percent of what they cannot repay. An IVA usually lasts for a period of five years and once agreed—using the services of an Insolvency Practitioner— it puts a stop to further interest charges and creditor hassle. In most cases, at the end of the five years the outstanding debt is written off as agreed, leaving the individual debt-free so they can start anew.
The last resort of bankruptcy is covered as an option for resolving debt problems as is a full and final settlement for those with access to a lump sum that can go towards repayment. “Both options have definitive risks and not all creditors will accept full and final payment, but this is why we look at every aspect of each individual’s situation to decide the best course,” said the expert.
The debt management advisory Website also features a Personal Debt Helpline manned by a dedicated and experienced team of friendly debt advice specialists. They handle all enquiries with strict confidentiality complying with the Data Protection Act to protect individual privacy. In addition, consumers can find updated blog posts, a news section and an online forum with further information on debt management plans, IVA and other debt reduction options. For more information or to arrange a consultation with an expert, please visit http://debtmanagement.co.uk/