Debt Management

As agents for DG Mortgage Solutions, if you contact them via our website you will receive the lowest possible rates.

Your Questions Answered

Will I be taking out a new loan to clear my other debts?
No. A debt management plan is a way of helping you make affordable payments to your existing creditors.

How does the plan help pay off my debts without lending me any money?
We will asses your income and outgoings and ultimately prove to your creditors that you cannot meet all of your payments. We will then negotiate and agree a single new affordable monthly payment. From this payment we will then distribute an amount to each creditor on a pro rata basis. We will then monitor your situation and advise you accordingly.

Will my creditors/lenders definitely accept your proposed plan?
By taking our proposed debt plan you will be rescheduling your debt(s) This may impair your credit record.

Will I have to pay for longer due to the reduced payments involved?

This is possible; and will usually lead to an increase in the size of the total sum to be repaid. However the payments will be affordable every month. In addition to this every effort will be made to encourage your creditors to freeze interest and other charges to ensure your debt reduces as quickly as possible. Should your circumstances improve your plan can be amended to speed things up. Please note that if your creditors refuse to freeze interest, paying the same debt over a longer time will increase the total amount to be paid.

What happens if I fail to make a payment?
It is highly likely that your creditors would withdraw their support of the plan and may proceed with court proceedings.

Can I, and should I, deal with my creditors myself while in the plan?
You can if you wish; however most people prefer to leave that to us as part of the service we provide. Either way, you should keep us informed of all contact made between you and your creditors, including forwarding copies of all correspondence from your creditors. Please do not ignore your creditors letters, forward them to us as soon as possible.

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ES Finance is purely a marketing website linking our affinity partner suppliers with potential customers. ES Finance do not offer regulated advice on financial products or services, these are offered direct by our associated affinity partners , who are themselves regulated by either the Ministry of Justice or Financial Services Authority. “
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