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Why you don't need a Debt Management Company

Many, if not most, debt management companies exist purely as commercial companies. They are only really interested in making a profit out of you.

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Why you don't need a Debt Management Company

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  1. Why you don’t need a Debt Management Company – Go Direct

  2. Reason 1 • Many, if not most, debt management companies exist purely as commercial companies. They are only really interested in making a profit out of you.

  3. Reason 2 • Debt Management Companies will charge you a fee equivalent to around two months payments • So if you had £100 to use to pay your debts each month they would take £200 before they pay any of your debtors

  4. Reason 3 • They will take around £35 per month from your payment to cover their admin fee. • So if you pay them £100 per month, only £75 will go towards your creditors.

  5. Reason 4 • They will dilute the money you have to pay your debts. • They cannot and do not reduce the amount you owe to your creditors.

  6. Reason 5 • They do not try and negotiate with your creditors, they just send out letters to the creditors telling them what they will pay the creditor. • Sometimes they offer tiny amounts of money which would mean that your debt would take 50 or 60 years to pay off.

  7. Reason 6 • They cannot make decisions on behalf of the lender. • It is far better to discuss the problem with the lender directly and set up a repayment plan.

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