Debt Management
A debt management plan allows your client to manage their finances in an informal agreement with their creditors by making one single affordable monthly payment.
An agent will contact your client's creditors and arrange a repayment plan. Once we have done this your client will pay Newtomorrow an affordable regular payment which will be distributed amongst their creditors in accordance with the negotiated plan.
The benefits of a debt management plan are:
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One payment a month makes money management easier;
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Someone else manages your clients debts, freeing up their time;
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We will negotiate with your clients creditors to try and freeze or reduce their interest payments;
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Your clients can stop the plan at any time without any penalties.
An informal debt solution generally offered to people will unsecured debts of at least £5,000.
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A one off lump sum payment to creditors which if accepted, could clear 40% of the unsecured debt.
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An affordable solution for people in Scotland with serious debt problems.
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A last resort available to people with serious debts based in England, Wales or Northern Ireland.
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Newtomorrow broker services has a team of experienced debt advisors who are ready to help you and your client in resolving their debt problems.
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All other alternatives will be explored before Sequestration is advised. Sequestration is available to people who live in Scotland.
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