Members of the Finance Industry Standards Association
Self Debt Management - Deal direct with Creditors
Self debt management or Dealing Direct with your creditors
- Whilst you may think you are saving money, struggling on in the long run to manage debts YOURSELF could end up costing you more!
For some people it is very obvious that their personal debt has become a problem but for others it isn't quite so obvious. In the same way, dealing with problem debt yourself (self debt management) isn't quite as straightforward to manage as most people would think.
Initially, managing your debts yourself or to deal directly with your creditors would certainly seem to have it's attractions and potential benefits. E.g. cutting out the middle man, saving some money and being able to negotiate with your creditors yourself.
Whilst in some cases these things may be true, the pitfalls and drawbacks of self debt management could massively outweigh the benefits of trying to manage the debt yourself.
As with anything in life that you don't fully understand, it is the simplest thing in the world to find yourself being taken advantage of or worse!
- Managing the debt yourself or self debt management, means you have to deal with the barrage of creditor letters, phone calls and visits whilst perhaps not fully understanding the law appertaining to personal debt collection procedures. You will also have to deal with the creditors yourself which will mean you are not getting impartial advice.
You are totally at the mercy of the good nature of the people you find yourself dealing with!
- Why spend your time trying to figure out how to deal with your creditors / debts and then waste further time and money doing things under self debt management you 'think' are helping you, when you could let a professional debt management consultant like Lewis Alexander Financial Management help you through the entire process.
As professionals, Lewis Alexander Ltd will have your best interests at the fore front of everything they do for you whilst you sit back and relax.
If you would like further information about self debt management, please contact us FREE on 0800 018 6868