However much debt you’re in, it’s vital to take action and get in control of your finances. Use these tools, guides and articles to get a better understanding of your situation, and find debt help that’s right for you.
- Get control of your finances with expert Irish debt management and find a stress-free way to manage your debts.
- Get a clear understanding on your legal rights for each of your debt repayments.
- Find out how to negotiate reduced payments from your creditors and how to freeze penalties and interest on your loans.
- Reduce your overall monthly payments by up to 50% and can consolidate your debts into one monthly payment.
Find the solution to your debts
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A Debt Management Plan is a clear and structured way of dealing with debt. Check out our guide to Debt Management Plans in Ireland to find out crucial information:
What is a Debt Management Plan?
A Debt Management Plan is a repayment programme for your debts based on your own specific financial position. These plans are managed by a debt management company who help you to work out a plan of repayment that you can afford to meet on a monthly basis.
You will pay an agreed amount to the debt management company who will then pay your creditors on your behalf so you won’t have to deal directly with your creditors.
The Debt advisor will complete a full personal income & expenditure. Whatever the amount left over, after all of your household expenses have been accounted for, is the amount that the debt management company would use to negotiate with your unsecured creditors.
You will then pay this agreed amount on a monthly basis to the debt management company who will then pay your creditors on your behalf so you won’t have to deal directly with your creditors.
Examples of debt that Debt Management Companies can work with:
- Credit Union Loans
- Credit Card Debt
- Term Loans
- Trade Creditors
- Utility Arrears
- Sole Trader Debt
- Liquidated Business Debt
Advantages of a Debt Management Plan:
You will only make one payment per month to service all of your debts.
You will only have to deal with the debt management company when paying your debt as opposed to dealing with several creditors directly.
Your debt management company may be able to get your creditors to freeze the interest on your accounts.
You will be repaying an amount that you can afford to pay so you gain control of your debt situation.
You won’t have to contact your creditors individually; your debt management company will deal with them on your behalf.
Disadvantages of a Debt Management Plan:
You may be repaying your debts over a longer period of time.
You will pay a fee to a debt management company for their services but this fee will free you from dealing directly with your creditors allowing you to focus on meeting your one monthly payment.
Where can I get a Debt Management Plan?
You can get a Debt Management Plan from an independent debt management company that will provide you with impartial and expert advice on the best type of plan for your circumstances.
The debt management company will come to an agreement with each of your creditors in order to pay your debts in instalments. When you have agreed a monthly repayment amount, the debt management company will act on your behalf.
uSwitch.ie Debt Help services are provided by Money Village who are Ireland’s leading debt management company and are founding members of the Debt Manager’s Association of Ireland.
To find out more about devising a Debt Management Plan that fits your situation, speak to impartial debt management plan experts on 1890 989 994 or send your details on our online form.
As a Debt Management Company take over all communication with your unsecured creditors, this helps alleviate a huge amount of stress.
Debt Management Plan – before signing up
Before signing up with a debt management company, always check the terms and conditions of your agreement and in order to be fully informed, find out about cancellation policies if you feel you are not happy with the service at any time.
Additionally, always confirm that the correct debts are being covered by your debt management plan. It is also a good idea to make yourself fully aware of all fees that may be involved so that you are clear on the arrangement that you’ve signed up to.
To get expert advice on debt management plans, call 1890 989 994 or submit your details via our online form above.
How to apply for Debt Management Plan?
If you feel that you can benefit from choosing a debt management plan then contact our expert debt management plan experts on 1890 989 994 or use the online form to receive impartial advice on gaining control over your debts.
Monday to Friday 9am - 7pm.
Outside these hours please fill in the online form on this page and we'll call you.