Debt Management involves your debts being consolidated into one payment and will you deal with one company, who will deal with your creditors on your behalf. The benefits of debt management are that you can consolidate your debts into one monthly payment. The main drawbacks are that debt management companies can charge high rates for their service, all creditors must agree in order for the scheme to work.
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Debt Consolidation Explained contains general information only. We strongly advise you to seek qualified professional advice before taking any action.