Debt Management

Our Debt Management Services allow you to have one affordable payment each month to meet all you unsecured credit agreements. We negotiate with all creditors to reduce or even freeze interest and charges on your accounts. Getting you Debt Free as quickly and affordably as possible.

The service is tailor made for you with your new, single, consolidated payment being based on the amount you can afford each month and not what you owe.

Arranging a Debt Management Plan:

1. A full assessment of your financial situation is carried out. To do this, we need to know your regular income and expenditure, who you owe money to (your creditors) and any other relevant information about your personal circumstances.
2. By collating this information into a Financial Statement, we are then able to determine how much you can realistically afford to offer each of your creditors.
3. Your creditors will then be approached and asked to accept the reduced payments. In most cases creditors are happy to agree the plans we initiate because they know, from experience, that such plans are realistic and sustainable.
4. You then make a single monthly payment, which is distributed pro rata to your creditors.
5. Throughout the duration of your plan, you will have an assigned case officer whom you can contact should you experience any difficulties whilst the arrangement is in place.
6. Your plan will be reviewed at regular intervals to ensure that it still meets your circumstances.
7. The plan will continue until your debts are cleared or until you wish to voluntarily end the arrangement. Most common reason for this being an improvement in income enabling a client to leave the plan and revert to their original monthly payments.

‘Our Debt Management Services are designed to improve your monthly affordability as to ensure essential monthly commitments can be met. Where credit agreements are not maintained at the original agreed rate this may lengthen the repayment term of outstanding accounts. Portwood Financial take a pro-active approach to managing your unsecured debts and will endeavour to help you clear your accounts under arrangement without interest or charges. If you fail to meet monthly instalments to Portwood arrangements made by us may be broken’