Debt Management Services - Clan Financial Services

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Debt Management Services

Debt Management can be an excellent solution to manage your debts, but it will depend on your individual situation. For example, an IVA (Individual Voluntary Arrangement) or another debt solution may be of more help, so it’s worth talking to us first.

When considering debt management, you should also be aware that unlike an IVA (Individual Voluntary Arrangement), it is not a legally binding agreement. There may be other debt solutions available that are more suitable to manage your debt.

Debt Management Pros:

• Monthly payments are affordable
• Interest is sometimes frozen
• The debt management company will deal with all of your creditors
• Your home will not be at risk if you keep up payments
• You have access to help if creditors contact you
• Your friends and family don’t have to know

Debt Management Cons:

• Not legally binding
• Creditor’s can still contact you
• The debt does not go away (it can get worse)
• A Debt Management Plan can take a long time to complete
• Your credit rating will be affected
• Interest can sometimes continue to build up

If you are interested in finding out more about our Debt Management Program, complete the form below and we'll contact you at a convenient time to discuss your requirements.