Existing Customers: 0161 228 6194
New Customers: 0161 228 6055
Brilliant people who take time to help

Debt Management Advantages

  • Informal arrangement with your creditors, this means payments are flexible based on your affordability.
  • A Debt Management Plan is an informal arrangement and may be changed to suit your circumstances i.e. if you have a pay cut, your monthly payment may be reduced, or if you receive a bonus/come into some money you can choose to increase your payment to get your unsecured debts cleared quicker.
  • We will negotiate and maintain payment arrangements with your creditors with a view to freezing and reducing interest and charges where possible.
  • On a DFH Debt Management Plan you will receive ongoing support and advice including pre-court advice and creditor correspondence advice. DFH will review your circumstances to ensure arrangements stay in place and to see if any other debt options are more suitable.

Debt Management Disadvantages

  • Only unsecured debts can be included in a Debt Management Plan. You must maintain payments for your priority debts yourself i.e mortgage, utility bills, secured loans, hire purchase
  • Creditors are not obliged to freeze interest and charges however at DFH we manage to achieve this in the majority of cases. If interest and charges are not frozen this could lead to an increase in debt repayment time and amount paid. If this happens DFH could look at an alternative debt solution.
  • While on a debt management plan you should not take out any further credit as this may affect your arrangements in place with existing creditors. Your ability to obtain credit will be affected in the short term and possibly the medium to long term. Repaying debt over a longer period of time may increase the repayment period and amount.
  • It is important that you do not ignore correspondence from creditors. Any calls should be directed to ourselves and any post sent to us in free post envelopes.
The guys at DFH work together like a real team. Plus, they are compassionate and so, so understanding.

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