Debt Management Plans

Facing up to debt problems can seem like a scary task, but once you take the first steps and seek debt help you'll find that the situation becomes much less stressful. You can apply for a Formal or Informal Debt Agreement by using a good Debt Management company which will work out a debt management plan on your behalf. Debt management firms will offer to mediate between you and the people you owe money to – making the process much easier and smoother. Depending on the level of your debts (and how many people/companies you owe money to), your Debt Management Plan specialist will be able to work out which route is best for you and offer informative help. With a debt management plan your payments are usually gathered into one monthly payment, while any interest is frozen. This makes it much easier and less expensive to pay off your debts. Your debt collectors will not be calling anymore and you can look forward to a debt-free future!

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COMPANYDEBT OPTIONS

DEBT OPTIONS

Forms of debt management available

MIN DEBT

MIN DEBT

Minimum debt necessary to apply

MIN MONTHLY REPAYMENT

MIN MONTHLY REPAYMENT

Minimum monthly repayment

WRITE OFF OPTIONS

WRITE OFF OPTIONS

Potential debt write off

ID REQUIRED

ID REQUIRED

Identification required to apply

TERMS

TERMS

Terms and conditions of debt management plan

SUITABLE

SUITABLE

Suitable for type of applicant

RESTRICTIONS

RESTRICTIONS

Restrictions for applicants

MORE INFO

Fox Symes Debt Solutions
Fox Symes Debt Solutions

Debt Solutions$10,0002% Of BalanceAsk on applicationIdentification

Identification

Personal details and volume of unsecured debt.

Terms

Terms

If you are employed and have debts greater than $10,000

Suitable For

Suitable

Debt greater than $10,000

Restrictions

Restrictions

For residents of Australia only

Fox Symes Debt Solutions
Fox Symes provide you with a free 10 minute over-the-phone debt analysis and find out the best way to eliminate your debts with a debt management plan by filling in the enquiry form. They claim to be one of Australia’s leading debt relief companies and have featured on both Today Tonight and A Current Affair. Please make sure that you read all of their terms and conditions in detail before you apply so that you thoroughly understand your obligations. If you have any questions contact their customer support team. DETAIL INFORMATION >>Services

Services

Free, no obligation service


Advantages

Advantages

1. Reduce your monthly mortgage or credit card repayments,
2. Reduce your interest rate so you pay the least amount possible,
3. Not have to worry so much when the credit card bills arrive each month,
4. Eliminate your credit card debt


Disadvantages

Disadvantages

1. The website has limited information available regarding fees and rates.

Debtfix
Debtfix

Debts SolutionsAsk on applicationAsk on applicationAsk on applicationIdentification

Identification

Personal details and info about outstanding debst

Terms

Terms

See Website

Suitable For

Suitable

If you have more than one outstanding debt

Restrictions

Restrictions

Ask on application

Debtfix
Get help and look forward to a brighter future! The consultants of Debtfix will find a way for you to consolidate your debts into one easy payment and this way reduce your interest payments and gGet your debts under control. Apply now online! DETAIL INFORMATION >>Services

Services

Debts management support


Advantages

Advantages

1.Settle your debts once and for all and live within your means 

2.Avoid bankruptcy, protect your assets and live a “normal” life once again 
3.Finally live free from the stress of debt 
4.1 affordable payment and peace of mind


Disadvantages

Disadvantages

Not enough info on site

If you wish to speak to someone: Contact Us

Compare Debt Management Plans

Look forward to living a debt free life with a Debt Management Plan. Make sure a Debt Management Plan is the right debt solution for you.

Are you in debt?

There are thousands of people across Australia that are in debt and most people in their lives will experience a debt problem at some point.

It can be relatively easy to fall into debt. Simply missing payments on products like credit cards and loans and the fines and interest charges can quickly accumulate faster than you can repay. Unfortunately, things can rapidly spiral out of control and paying off your debt can become more and more difficult.

The most important thing is to take action as soon as possible. There are a variety of debt solutions that you can consider, one of which is a debt management plan. Remember that the fight solution will depend on your personal and financial circumstances so you need to make an informed decision before you decide which one will work best for you.

What is a Debt Management Plan?

A debt management plan is an informal agreement that you make with debt management companies to repay your debt over a period of time.

How can a Debt Management Plan help you?

Many people turn to debt management plans because your repayments can be reduced to a more affordably amount. This will make it easier for you to manage and budget your expenses.

With a debt management plan you will work with debt experts who are leaders in helping people overcome their financial difficulties. You can depend on a non judgemental service and work with debt specialists who you will be able to contact for support and guidance whenever you need.

Debt management plans are very flexible and as there are no legal contracts you can walk away at any time. Furthermore, the plans can be easily adapted if your circumstances change. For example, if you can afford to pay off more of your debt at a certain time because of an income increase the plan can be changed accordingly. On the other hand if you find your income reduces your monthly payments can be reduces to help you cope.

Get your creditors off your back and have interest charges frozen

The main advantage of taking out a debt management plan is that the above companies will deal with all correspondence from your creditors which is great for those who are being constantly hassled.

Not only will they take away this stress but they can even negotiate for reduced payments and have interest and other charges on your debt froze. This will help you get back on track fast but your bear in mind that your creditors do not have to by law agree to such arrangements.

What are the disadvantages?

Debt management plans can take a long time to complete especially if you are in a considerably amount of debt. The exact amount of time it will take will also depend on how much you can comfortably afford to pay each month.

If your creditors do not agree to any proposals to have the interest on your debt reduced you could find that smaller monthly payments will mean that your debt can take a longer time to pay back which can cost you more in the long run.

Some may be concerned that a debt programme will appear on your credit report which could affect you in the future when applying for products such as loans and credit cards. However, if you are considering a debt management plan you have probably already damaged your credit report. Remember that once your debts have been cleared your credit rating will start to improve which will stand in your favour.

Find the right plan for you and your debt

If you think a debt management plan is the right debt solution for you and your individual situation you should make sure you find the one that best suits you.

It is important that you take the time to compare different plan providers. You can do this in the table above. Some providers may charge you a fee for using their service while some might be completely free. If the plan you go for does charge a fee make sure you know exactly what you are paying for.

Debt Management Plans - Latest News News and Charts

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07 October 2014
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Whether its advice or guidance whilst dealing with debt management this article provides all the information needed to assist on making the right choices.

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More Australians are having trouble paying back their debt

12 August 2013
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Just under 10,000 Australians filed debt agreements in the 12 months to June 30, up nearly eight per cent on this time last year.

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Is a Debt Management Plan (DMP) right for you.

30 July 2013
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If you struggle to pay your bills on time then it is worth considering a Debt Management Plan (DMP) to help you get out of debt.

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What is a debt management plan?

26 March 2013
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A debt management plan can help you into a life with less problems, and can be a solution when multiple debts become too much to manage.

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Struggling with Debt?

23 October 2012
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If debts are threatening to take over your life, make the change and seek help now. You will find that there are lots of ways of stopping debts from getting out of control for a debt-free future.

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