Debt Management
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What is Debt Management?
It's simple, your customer pays us an affordable amount each month. We deduct our fee and disperse the difference to the creditors. We will negotiate with their creditors, and where possible reduce or freeze interest and charges.
Debt management is an informal arrangement that your customer can exit at any time, with no exit fee payable. It may be a short term fix to help with a period of unemployment, or a longer term arrangement to help customers where their circumstances have changed and they can no longer afford their current commitments.
How will it help my customer?
We will take the stress and hassle of dealing with these bills away. Our experienced team of Customer Account Managers will provide your customer with a tailor made solution specifically designed to fit their individual circumstances.
Once we have been instructed to act on your customers behalf there is no need for your client to deal with the phone calls and letters they receive – they just refer the creditor to us and we do all the hard work.
What do you charge?
We charge an initial fee of 2 months of the client's disposable income; followed by a monthly fee of 11%, with a minimum of £40 and a maximum of £90.
What's in it for me?
You are paid 75% of the first month's disposable income, on average this should work out at up to £225 per client that goes on plan.
You will find that the initial fees and monthly fees charged by other debt management companies are generally significantly higher than with Promise