Why you don't need a Debt Management Company

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Why you dont need a Debt Management Company Go
Direct
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Reason 1

• Many, if not most, debt management companies
  exist purely as commercial companies. They are
  only really interested in making a profit out of
  you.

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Reason 2

• Debt Management Companies will charge you a fee
  equivalent to around two months payments
• So if you had 100 to use to pay your debts each
  month they would take 200 before they pay any of
  your debtors

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Reason 3

• They will take around 35 per month from your
  payment to cover their admin fee.
• So if you pay them 100 per month, only 75 will
  go towards your creditors.

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Reason 4

• They will dilute the money you have to pay your
  debts.
• They cannot and do not reduce the amount you owe
  to your creditors.

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Reason 5

• They do not try and negotiate with your
  creditors, they just send out letters to the
  creditors telling them what they will pay the
  creditor.
• Sometimes they offer tiny amounts of money which
  would mean that your debt would take 50 or 60
  years to pay off.

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Reason 6

• They cannot make decisions on behalf of the
  lender.
• It is far better to discuss the problem with the
  lender directly and set up a repayment plan.