question category: Debt Management

Free debt management - who offers free debt management?
Submitted on: 26th Nov 2008 by Non-Member | Total Answers: 1

I know that some debt management companies charge. Who offers free debt management?

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Free debt management

Yes you are right and some of the debt management companies do charge set-up / negotiation and management fees. These fees typically form part of manageable month payment. However, fees are fees and therefore are part of and adding to your debt.

Now for the tricky bit. Charities like the CCCS are funded by the same people you owe money to and as a result it would be very rare for them to try to negotiate any settlement figure or write-off. Good companies can and will. Therefore free debt management is not always the best option. It really depends on whether the company can negotate a good deal and reduce the total debt. 

Submitted on: 26th Nov 2008 by TA Member

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