Debt Management Plans

Let Byrom & Keeley Financial Services advise you on the best debt management plan for you

If you are struggling to meet your monthly minimum payments, with Byrom & Keeley you may be able to reduce your monthly payments, making your debts easier to pay.

Having developed strong relationships with many mainstream creditors, we are able to negotiate payments which you can afford, on your behalf. We are often able to freeze charges and interest on your account (although this is not guaranteed) meaning that every month, you are able to reduce your amount of debt. Not only that, but we actively manage your debt, dealing with creditors directly on your behalf, for the duration of the plan.

• It allows you to make one affordable monthly payment
• All creditor negotiations are managed for you
• Negotiated freezing/reduction of interest and charges (though not guaranteed)
• All creditor letters/paperwork and phone calls dealt with on your behalf
• A flexible solution allowing you to increase or reduce payments as your situation changes
• Your home will not be at risk, although you need to keep up mortgage/rent payments
• You will receive regular statements detailing the payments made to creditors on your behalf
• You will have your own personal finance adviser able to give expert help and guidance through out the duration of your debt management plan

• By paying less than originally contracted you may pay over a longer period which may increase the total amount to be repaid
• Because you will be breaking your original agreements with your creditors you may receive a default notice which will be listed with credit reference agencies. As a result it will be difficult for you to get credit for up to six years after completion of the plan including mortgages, mobile phone contracts etc.
• As a Debt Management Plan adversely affects your credit rating this may have an impact on you in other ways i.e. a potential employer may wish to see your credit file
• It cannot be guaranteed that creditors will not pursue any legal action
• Your creditors are not obliged to freeze/reduce interest and charges and may apply additional fees
• Fees are usually taken upfront meaning that you may go into or increase any arrears

Call Byrom & Keeley TODAY and let us help you:
New enquiries: FREEPHONE - 0800 298 2988
Existing customers: FREEPHONE - 0800 848 8484
Creditor line: FREEPHONE - 08000 435437