If you enter into a debt management plan in the UK fees are a fact of life. Whenever someone does something for you, you expect to pay them. If you had your clothes cleaned or ironed, you'd pay. If you used the services of a gardener, cleaner, or car valet you'd pay. If you hired a decorator to paint your living room, you'd pay.
To avoid paying out money we can't afford, most of us do these things and many others ourselves. While we are capable of undertaking basic daily activities we will, and at the same time we will often take pride in doing a good job. We always know how the job is progressing, and seek help when necessary whilst still maintaining control.
So when it comes to managing debts why do we automatically seek, and pay for, the services of a debt management company? At a time when we are admitting we don't have enough money to cover our monthly commitments why are we paying so much out to someone else? If we pay only £25 a month to a debt man agement company, a plan that lasts 10 years will have cost £3000 in monthly fees. Add to that the initial setting up fee, and ask yourself whether you'd prefer that money to go to your creditors instead and pay off your debts sooner. I would.
For those paying larger monthly fees the total, and therefore total saving, is even higher. £100 per month would equal £12000 over a 10-year plan, and it gets even more frightening after that. Oh, and don't forget to add on the initial setting up fee.
There is a very real financial incentive to do the work yourself. For a little initial work, followed by a few minutes a month, your debts could be sorted years earlier. You have more money in your pocket years earlier. You could move home, or buy a better car, years earlier. Some creditors may be more inclined to freeze interest and charges if you are not paying fees to a debt management company - which means you could get straight even earlier!
The fac t that you are here means that you have the ability to use a pc, and to type words into boxes. Basic stuff, but I would suggest it's enough to consider managing things yourself and reaping the rewards.
So why don't we do it ourselves? Fear of the unknown? More people do seem to be handling their own plans. They've discovered it's not a black art, and are seeing the benefits of maintaining control. There is help and information available to you, so take a look at it and see if you can take the first step in avoiding fees and becoming debt free sooner.
For example, go to [http://silicondiamond.com/page3.html] and see what they offer. It's a toolkit designed to take the mystery out of debt management.
This has been put together by 2 guys qualified as financial advisers, who between them have a number of years experience helping people with debt problems. They recognise that many people have the ability to manage their own debts if they're given a little help to start with.
Think about it for a moment. If circumstances hadn't changed you'd have continued making monthly payments to your creditors yourself. This would indicate that you're capable of doing the same again. All you need is a little initial help in setting it up with your creditors.
So take a look at [http://silicondiamond.com/page3.html] and for less than the cost of one month's debt management fees that help could be yours. No more monthly fees, and your debts repaid years earlier - it's got to be worth a look.
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