How Much Does a Debt Management Plan Cost?
Costs of debt management plans vary by the individual debt management company.
We strongly recommend that you compare debt management companies using our free service. It is quick, simple and we have a great range of companies ready to help.
There are typically two types of fee that a debt management company will charge. Once is a setup fee and this is required as the debt management company has to setup your account, analyse your debts, set out the debt payment plan and send out contact your creditors, which means you do not have to worry about managing your debt plan.
Please note, at Confused Debt we have worked with our debt management companies to get discounted fees not available from other sources.
The other type of charge is a monthly fee that comes out of your debt management plan payment. The fee is to continue to administer the plan and covers:
- Contact - you can easily contact the debt management company and are usually supplied a dedicated account manager, who will take a lot of the hassle out of debt management.
- Negotiation - negotiating with your creditors to try to get charges and interest removed from your debts.
- Administer - managing your debt payments, sending letters etc to help with the running of the plan, removing your need to worry about how to manage your debts.
If you are unsure as to whether you are suitable for a debt management plan, then we would recommend that you compare our debt management companies, contact them and see what advice they can provide.
