Manage Your Debts Today

Like to live lavishly? Use your credit card without thinking about bill payment? Taken a mortgage or loan whether for necessary or frivolous reasons and having trouble repaying them? Have no budget and no idea where all your income goes? Have to borrow from friends or relatives by the end of month? Avoid picking phone or checking letters to avoid credit-collectors? Paying minimum monthly rental charges on credit cards hoping the remaining will disappear?

If you are going through one or more of these phases then it is time to get hold of yourself and your finances whether by yourself or by hiring help.

What is debt management?

Debt management is simply managing your expenses so to control your debts and start repayment regularly before they totally spiral out of control.

Why repay now?

Many people think that they will repay when debt management plan  they come into some inheritance or win a lottery or gamble. But it doesn’t happen so. Get realistic as repaying on time ensures:

·         Higher credit rating which is necessary to maintain in case you need money in future.

·         Lower stress and other stress induced disease.

·         Freedom from credit-collectors.

·         Avoiding them will not make debts disappear. Instead they will be harder to manage.

How can one manage his debt on his own?

If you want to manage your debt on your own and not take professional assistance, then you should start with:

·         Make a budget. Note all your fixed and variable expenses. Fixed expenses include those which you have to pay every month at approximately same time and are almost the same amount always, such as house rent, school fees, medicinal expenses etc. Variable expenses are those which vary on regular basis like grocery bill, laundry bill. Variable expenses are the ones where cost cutting is to be done so should be carefully noted. Include the entire loan instalments you have to pay also.

·         Balance your budget that means your expenses should not be more than your income. If your expenses are more than your income, then it means you are on the way of getting caught up in debts sooner or later.

·         Compare the prices of goods and services offered by various service providers and use the most cost effective one. Remember costlier is not always better.

·         Try controlling your phone bills, restaurant bills and shopping till your debts are repaid until it is unavoidable.

 

 

When to hire assistance?

If with all these steps you still cannot manage your finances and control your debts in next 6 months, then it is time to hire professionals. Ask your friends or look up online. Contact those who have been in similar situation. Check the credentials and hire only if you are satisfied.

How do debt management professionals help?

Debt management professionals go through your finances and then decide the course best suited to your situation. It can be:

·         Consolidating your various debts, so that you will have to pay a single instalment instead of various smaller ones thus saving on interests.

·         They can negotiate with your debtors to reduce your instalments or interests. By negotiating they can make the terms and conditions in your favour. Debtors are willing to negotiate as it gives them a chance to recover some capital.

·         They can also try for debt elimination. In the programme of debt elimination borrowers can get up to 100% debt elimination on their credit card debts. Sometimes only the interest is waived off. Many agencies provide debt elimination services that will help you to know how you can eliminate creditor's payments.

·         Some debt settlement plan  agencies take over your loans. In that case you will have to pay the instalments to your agency who will distribute it among your debtors. Before making the deal check out the agency’s credentials carefully and if possible try to contact their former clients.

Why us?

We know that in service industry, words of satisfied clients are better than self praise. So here’s what some of our former clients have to say about us:

·         “Initially I was nervous contacting AA. I was afraid of being mocked but Smith at AA made me realize that I was not the only one to get caught in debt. It happens and it can be rectified. I felt respected, responded to and reassured.” Johanna Walters

·         “Thomas at AA was so patient and understanding with my problems. His practical advice on managing my debts has helped me a lot. Thanks to him, I’m in a much stronger financial position now”. Rihana Jones

So do not delay. Contact us now on 0843 289 8129 or info@debtadvisors4u.com we promise absolute discretion.