Solution Mortgages News

Solution Mortgages news on bad credit remortgages, poor credit remortgages and for people with arrears & ccj’s. Remortgage news with regards to the adverse credit market and people with sub prime credit.

Monday, June 23, 2008

Debt Management

Debt management is a way of consolidating all your outstanding unsecured credit payments into one single monthly payment without taking out any further finance.

It can help those consumers who can no longer continue paying the monthly repayments on their unsecured credit and those who cannot obtain any further finance.

The consumer has one monthly payment to pay the debt management company on a date they specify.

Consumers must be aware that debt management can effect your credit rating and might lead to defaults, as you will be in breach of your original credit agreements.

Debt management can only deal with unsecured credit and cannot include secured loans and hire purchase agreements due to your home and possessions being at risk should you not keep up with the payments.

The aim of debt management is to get all interest and charges suspended and agree to reduced payments to help prevent further action.

Solution Mortgages have teamed up with EuroDebt Financial Services, a trading style of Pentagon (UK) Limited, who are a licensed Debt Management Company (DMC) who can act as your Debt Manager to help you get back on track with a EuroDebt DMP.

For more information, please call Solution Mortgages on 0845 123 1260.