A sound debt management advice is the right word for you!

When it comes to debt management solutions to correct the financially miserable life of an individual under heavy debt, there are many claims offered by different debt agencies. However, the selection of an agency, in this regard, cannot be just made with some promising words, unless these words are supported by proven results.

A sound debt management advice is as useful for an individual under debt as water is useful for a plant to grow. Such an advice can help a person under debt to prioritise his needs and requirements and act accordingly. A debt management plan can help to serve this purpose. A debt management plan is a set of actions aimed at minimising the burden as well as the hassles, which are commonly associated with huge debts.

For this purpose, a debt management agency can help in the short as well as in the long run. This agency can make specific plans to help you to improve your financial condition and lead a normal financial life. It is always said that is easy to take a debt but it is very hard to repay the debt. To add to that, it is also said that it is highly recommended that one should ignore his luxurious needs, which he fulfils by taking debts, than to fulfil all his basic needs with the money at his disposal.

If you look at an economy like the United Kingdom, you will be surprised to know that most of the individuals, who were previously burdened with huge debts, are now leading hassle-free life, all thanks to the debt management plans.

The selection of a debt management advice provider must not be made just by words of the mouth. It is always advisable to make an exhaustive research in the traditional as well as the Online resources and confirming the real credentials and proven results from a minimum of 3-4 reliable sources. The best place to look for such information is the Internet, as you can find numerous agencies on it, competing to win the trust of their prospective customers.

Debt Management make life easy and comfortable

The debt management companies offer debt management services and deal with your creditors whilst you pay them one monthly payment, (hopefully) less than all your existing monthly debt bills. Debt management plans sound good but what if charges are building, interest rates are just as high and the only reason your paying less per month is that you'll be paying for a long time period. For these things, you have to go through your current financial condition, credibility of the service provider and the nature of your existing debt.

You should keep in mind that, you are not alone in such a precarious situation. Studies reveal that the nation's personal debt has reached record levels of more than £1.28 trillion and rising all the time with credit card debt alone representing more than £54bn. In such a situation, the professional debt counsellors offer debt management advice online and could help replace your debt with one affordable monthly payment that works out less expensive than paying off the cards with their interest rates over the same repayment period. You could also qualify for an IVA - Individual Voluntary Arrangement if the professional feels that your debt burden is high enough to be handled by debt management services.

There are some companies who offer free debt management services. Their free of cost financial advice will provide you with the answers and financially beneficial solution to your debt problems by entering into an agreement with an established and ethical company offering a deal that makes good financial sense to you. A debt management solution could replace your debt with one affordable monthly instalment that works out less expensive than paying off the credit cards with their interest rates over the same period of time.

Consolidate your debts and live a life of peace

Consolidation is recommended when you have made your e your best efforts to return to a debt free life. If it is being used to reduce outgoings of the applicant so that further credit can be afforded. It is a fact that a debt consolidation loan is not a solution but just a stepping stone to financial ruin. When you consolidate debts into one loan plan, normally a lower interest rates can be achieved. The consolidation process results in lower monthly payments. For many people and many adverse financial situation this is the cheapest way to solve problem debts.

Consolidating high interest unsecured loans, credit cards and overdrafts etc. using a debt consolidation loan can save a significant amount of money by reducing your monthly payments into one lower monthly payment. This not only reduces your monthly outgoings , but also helps you to have an end date when your loan will be paid off. Even if you have missed payments on previous credit arrangements in the past or have a poor credit history, lenders in the UK loan market still be able to help you reduce your payments and save money each month.

By using the loans comparison service while you consolidate debts, you can find and compare the best debt consolidation loans available in the UK. With online mode, you can also see who offers the best rates. You can then apply online free of cost. The online application takes less than five minute and you can have a zero obligation loan quote in less than 30 minutes.

Consolidate debts and become debt free

Are you feeling helpless in deep ocean of credit card or any such debts? Are you seeking financial aid to consolidate the debts and get respite from the debt problems? Lenders provide many schemes for this purpose but a few policies can accomplish your goals. Debt consolidation loans are one such plan which help to expunge the pile of debts. Debt consolidation loans are offered into two forms- secured and unsecured.

Debt consolidation loan helps you to find a way in which your debt burden is lowered. The main utility of this loan plan is to cut the cost of your current debt burden to make it affordable to your current financial situation. For this usually your entire debts are put together and it is assessed that how much total debt burden you have currently. Once your burden is compiled a new loan facility is provided to replace your total debts . Thus, here you are helped to find a lower rate loan plan which represents alone for the various rates of your different debts. Besides when you consolidate debts, you get here a single installment options that take away the hassle of repaying different debts at different dates.

To avail the loans to consolidate debts, you can contact the debt consolidation agencies. These agencies usually work as middle man and use to negotiate the loan deal on behalf of you. You can find these agencies even online where they are easily accessible and can be contacted from anywhere any time. Bad credit borrowers can take the loans for bad credit and consolidate their loans burden. Loans for bad credit charge a little higher rate of interest.

Women are better debt managers

Do you know women are far more likely to seek help and advice about the potential state of their long-term financial health than men? This fact is the result of a survey conducted by a reputed financial agency. According to a representative from one of the UK’s leading debt management firms, in their experience, women approach a specialist or pursue expert advice from an IFA, even if they feel that the condition is not that bad. On the other hand, men are far more vulnerable to seeking independent help but their callous attitude towards dealing with their financial situations is an obstruction in their healthy financial status.

In essence, women express a greater concern with regards to the actual way in which they should be managing their finances, whereas men take them as not a big problem. This is also the reason why more men overspend in festival seasons compared to women.

A spokesperson for the firm commented that the need or desire for women to obtain expert professional financial guidance often stems from a scenario in which debt burden is not so significant. This in turn, causes the vast majority of women to review their entire financial position, with the overall purpose of streamlining their income to outgoing ratio.

It has also been revealed that men are the least sensitive to adapt to debt management help. For this reason, men face more financial difficulties than women.

Experts warn over multiple credit cards

Are credit cards a monster that eats up your money in a big way? Well, it is really so if we go by the statistics put forward by CreditAction - a leading national money charity. The figures show that the average interest rate on credit card lending is 17.67%. It is a whopping 12.4% higher above the base rate level that is fixed by the Bank of England. Little wonder that credit cards are the biggest culprit when it comes to people falling in the debt traps.

People resort to credit cards for the sake of convenience in payment, but it should be kept in mind that over-dependence on these cards can get you in trouble. If you fail to pay the credit card bills within the interest-free period, you are charged very high interest rates. So, be wary of the trap. On an average, a Briton holds 2.4 credit and debit cards that are more than twice the number in any other nation. People hold more than one card for varying reasons. However, the problem arises when you have to keep an eye on the spending and repayments across several cards.

You should be cautious that you do not miss the minimum payments on your credit card bills and get exposed to heavy penalties. Experts warn people against getting used to taking credit through these cards and accumulating their debts.