Companies that deals with debt management (DMCs)

When you try to solve a debt problem DMCs can offer help, but often they deal only with non-priority debts. To find out more information about this kind of debts please use the link 'Get to know more about non-priority debts' placed below. DMCs can act on your behalf when you are in treaty with your creditors for payments reduce. After conclusion of a treaty with your creditors you simply make one payment to the DMC and the company distributes it to your creditors.

Sometimes creditors pay commission to DMCs. But many companies of this kind demand payment for their services, so you will have less money available to settle your debts.

There are many organizations, for example National Debtline, that offer free debt solutions and particularly plans for debt management. It is up to you to decide whether to use a commercial service or not. For contact details see 'where can get I help and advice' below.


Articles

The cultural transformations that have made people accept life in debt have had a direct impact on the approach youngsters take to money matters, which could lead to negative consequences in the long run as many of the next generation would resort to IVAs to cope with serious financial issues.

When we put efforts into our work and get paid for this, we get an amazing feeling of satisfaction. Our hard hard work seems to have been remunerated financially. We go shopping and buy the items we need and the items we simply want.