Debt Management - Frequently Asked Questions

What is debt management and how does it help me?

Debt management is the process which enables you to consolidate your credit commitments into one affordable monthly payment. This amount is then paid to the debt management company who in turn distributes the payment between your creditors.
This will give you peace of mind and enable you to manage essential bills such as your mortgage, rent, council tax and other general living costs more easily.

Why will my creditors accept a reduced payment arrangement?

As a recognised market leader, Moneyworries has forged strong relationships with all of the UK�s banks and lenders. This places Moneyworries in a very strong position to agree reduced payments with all your creditors.
Importantly, we use strict guidelines in how we work out a payment, which is both affordable for you and in line with the creditors expectations.

Will it affect my current or future credit rating?

Your ability to obtain further credit may be affected, however, since the purpose of the plan is to help you clear your current debt, this goal must remain the primary focus.
Maintaining regular payments on your plan will ensure both your debts are cleared and your creditors confidence is restored. This over time will have a very positive impact on your credit rating and also enable us to introduce you to lenders in the future.

Is the plan confidential?

Moneyworries is licensed under the Data Protection Act and Consumer Credit Act. We appreciate the sensitive, personal nature of the information we hold and pride ourselves in the extensive procedures which have been implemented to safeguard confidentiality.

What if my circumstances change?

Your payment to Moneyworries is sensitive to any changes in your circumstances. You may request a review of your payment amount at any time.

Call us today and let us help you get debt free...