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Credit Card Debt Elimination

credit card debt elimination
When you are struggling with your finances most people have credit card debt included in their total debt and one of the things that can be done to help credit card debt elimination is to reclaim any over charges that has been applied to the credit card account you can either do this yourself our we can assist you with this task to help reduce your overall debt on your credit cards. We will charge a small fee for this service but will add it to your debt management plan so you do not have to pay any up front costs. Many people have 4 or 5 credit cards often with different providers and all of these will be included in your debt management plan. Credit card debt elimination is just part of the debt management plans we offer at Money and Me to ensure you are receiving the best possible service. Your debt management consultant will discuss the option of credit card debt elimination with you in more detail at the time. You should continue to meet your monthly payments to the credit card provider until your debt management plan has been set up or make token payments to the provider on a monthly basis if the full amount is not possible. Making these payments will help in Credit card debt elimination program being set up with the providers.

Debt Management Plans

credit card debt elimination
Money & Me could help you with your debt management plans. We do not charge excessive fees for our debt management plans and will explain these in full as it is our aim to be transparent with our clients and our clients fully understand the whole process of a debt management plan. Our costs are some of the cheapest in the industry other than charity organizations and we will not hide these in our terms and conditions but will explain them in full. For setting up your debt management plan we will charge you one month of the agreed repayment we reach with your creditors. We will then charge you 15% of your monthly payment on top of what you pay your creditors with a minimum of £30 per month. These costs include negotiating with all your creditors making monthly payments to them on your behalf and leasing with them regarding your account on an ongoing basis.

 
Pay one single affordable monthly repayment to your debt management plan
Reduce or freeze interest and charges
Stop demands from your creditors
Regain control of your finances
Have a dedicated debt management consultant you can contact for help and guidance whenever you need it
 
credit card debt elimination
Your debt management consultant will negotiate with your creditors to reduce payments based on what you can afford to pay after we have conducted a financial review of your circumstances and have a full list of your creditors as this is what most creditors require to accept the debt management plan. Although we cannot guarantee it we will also ask that they freeze or reduce interest and charges on your accounts. A Debt Management Plan or debt elimination program does not cancel your debts, but makes them a whole lot easier to deal with. The monthly payment you make will go towards reducing the outstanding balance on your accounts, and Money and Me will do all the work for you, helping to take away the stress and worry of debt.
debt management

Debt Management Services

Our Debt management Services is available to everyone and many people feel the benefit of this service. Many people say they feel a weight has been lifted from their shoulders once they have discussed their debt problems with one of our debt management consultants and also say they preferred the meeting in the comfort of their own home. This service is here to help our clients so please feel free to email or phone us for an appointment.

 

Frequently Asked Questions

What is debt management/debt elimination?

credit card debt elimination
A debt management/debt elimination plan is an arrangement between you and your creditors which allows you to repay your debts with a lower and more affordable monthly payment.

When you enter into a debt management/debt elimination plan with us, your debt management consultant will negotiate for reduced monthly payments on your behalf. The debt management consultant may also be able to negotiate a freeze or reduction in interest and other charges, meaning more of your lower payment goes towards reducing your balance.

Once your debt management/debt elimination plan begins, we will also handle any correspondence between you and your creditors.

 

Will I have someone to help me all the way?

On our debt management/debt elimination plan, you will have your own Personal debt management consultant, who will act as a point of contact between you and your creditors, as well as answering any questions you may have throughout the duration of your debt management/debt elimination plan. Whether it's regarding your repayment plan or any other financial concerns you may have, your debt management consultant is there to help.

 

How does the process work?

It starts when you go through your income and expenditure with us, so we can calculate how much you can actually afford to put towards your debts each month, after you've allowed for your essential expenses (mortgage/rent, food, utility bills, etc.). Once agreed we'll negotiate with your lenders to try to agree on a repayment plan, you simply make a single monthly payment to us and we'll distribute it as agreed.

We'll take care of all paperwork and phone calls - and you'll receive a regular statement, showing you where you stand with your debts. We'll also go back to your lenders regularly to renegotiate your repayment plan as and when any change in your circumstances makes this necessary.

 

How long will it take to pay off my debts?

This can vary, based on how much you owe and how much you can afford to pay each month once your essential costs (e.g. mortgage/rent, food and utility bills) have been covered.

It will take longer to repay your debts if you reduce the amount you pay each month, but your debts can be much easier to manage on a month-to-month basis.

We'll aim to keep your payments affordable whilst helping you repay your debts in the shortest possible time.

 

What will I get with my debt management/debt elimination plan?

As well as your own dedicated debt management consultant taking care of your debt repayments, we can offer the following benefits:

A scheduled repayment plan
All communications with your creditors taken care of by us
Regular updates and ongoing communication regarding your repayment program
6 monthly review of your situation
 

What if I get paid weekly, four-weekly, fortnightly?

You can make your payments in line with how frequently you get paid, if you like. This won't affect your debt elimination program at all. Your program will be tailored to your individual circumstances.

 

Is debt management/debt elimination right for me?

You can make your payments in line with how frequently you get paid, if you like. This won't affect your debt elimination program at all. Your program will be tailored to your individual circumstances.

 

Debt Consolidation Advice

At Money and Me we also offer debt consolidation advice free of charge. We are able to offer this service due to links we have with financial advisors that can look at all your financial planning needs.

Debt consolidation advice can include looking at remortgages, restructuring personal or secured loans as well as credit card debt elimination. If you would like debt consolidation advice then please email or call us for details. If you decide to use debt consolidation as a way of restructuring your finances and are going to add these debts to your mortgage then please remember that this debt becomes secured against your property by either a secured loan or remortgage. Debt Consolidation is an alternative route to credit card debt elimination and debt elimination in general. If you decide to proceed with debt management credit counselling then our debt management consultant will discuss in more detail.

Get Out Of Debt

Our aim is to get you out of debt through our debt management plan. Most lenders in the UK are sympathetic to your needs and will work with us to help get you out of debt. We will taylor a debt solutions plan to help you get out of debt. When we set up you debt solutions plan with the creditors it is imperative you stick to this as failure to do so could result in one of the creditors refusing the debt management plan. Other ways to save money on your budget is to get a quote for car insurance to ensure you are not paying to much, check your gas and electricity usage to see if you can save money on this and finally check your house insurance to see if you can save some further money on your monthly outgoings.

 

Other Products and Services

Other Insurance Products: Moneyandme.co.uk offers a large selection of insurance policies including car insurance and income protection policies to protect your car loan repayments in the event of Accident, Sickness or Unemployment which we strongly recommend in the current economic climate. Our aim is to save you money on your Insurance needs whether they be mortgage protection, Life insurance, House insurance or any other products.

You will find some popular links at the bottom of this page and more specific insurance needs at the top of the page. We hope you have found this page and other pages throughout the site useful but if there is anything you think we can add or improve on then please use the feedback tab at the top of the page as we will take your feedback into consideration for the future development of this site. Moneyandme.co.uk would like to thank you for taking the time to read the information on this page and hope you found the information useful.