The best Debt Management Services in the UK

People might think that getting into serious debt trouble is a one-way ticket to bankruptcy but it doesn’t always have to be the case. Seeking help through a legitimate organisation such as the CCCS (the Consumer Credit Counselling service) is the first step in dealing with any debt problems.

The CCCS was set up in the USA during the 1940s and first established itself in the UK back in 1993 – after a successful pilot run it is now officially recognised by the major banks and credit card companies as one of the first people to call if advice is needed.

After overcoming initial thoughts about when or if you should contact the CCCS; the whole process couldn’t be any easier. Either through the website or phone-call to a counsellor – you the client must first complete a Debt Remedy form. This will ask you about your debts you owe (naming all your creditors and amounts) and your income and outgoings on a weekly or monthly basis.

The colleted information will then be calculated to give you money leftover per month to go towards a Debt Management Plan (DMP) or other options depending on the situation. The length of the DMP is set according to how much time your monthly payments will take to clear the whole debt in total.

If a DMP is available then you agree to it – on the phone with the counsellor – or send it to them through the on-line service. Within a few days you’ll receive written confirmation that the plan has been approved (in principal) by the CCCS; it then has to be sent by them to all your creditors to inform them of your decision to repay your debts in this way.

As a courtesy to your creditors, the CCCS will ask that you send copies of the DMP agreement to them. Keeping a good line of communication to all your creditors is vital to ensure the successful activation of a DMP. All DMPs are paid through the CCCS (through Transcash or Direct-Debit) they then distribute your monthly payments to your creditors (each having agreed to a monthly amount to repay).

While on the DMP you will still be responsible for the debt – the CCCS will send you a statement each month (or you can view it on-line) to keep you updated on your payments. Between six months to a year, your DMP plan will be reviewed to ensure that your plan best reflects your current financial situation.

Counsellors are never more than a phone call or email away when any problems (if any) should arise with your DMP. As a charity, the CCCS never ask for any money for their helpful service – all advice and help is totally free. They are the best debt-reducing service available in the UK.