Debt Management Process

Harrington Brooks' main aim and expertise is to help you resolve your current financial problems in the simplest and quickest way possible. We do this by the following process.

Initial Review

Firstly, we ask you to tell us about your credit commitments, income and expenditure. We will work out a monthly payment you can afford. In most cases, it may take longer to repay your debt, however a Debt Management Plan can result in significant reductions to your monthly payments.

To be eligible for debt management, you need at least two debts and owe a minimum of £1,500 and are able to demonstrate you're struggling to make current payments.

Negotiation with your Creditors

Secondly, your situation is explained to your creditors in order to reduce your existing monthly payments. The creditors are not obliged to accept reduced payments or freeze interest. However, once hardship is demonstrated, negotiations can improve your circumstances producing a fairer distribution of money between essential living costs and your credit commitments.

Your new single lower monthly payment will replace all of your existing repayments. Each month (or week), you will pay the new affordable amount. Your creditors are paid in an efficient and seamless manner, less our initial fee, then less our ongoing monthly fee.

Ongoing Review

Thirdly, every six months you will undertake a financial review. This ensures that you can decide to pay back more the less per month per month, depending upon any change in circumstances.

Debt Management Plans are flexible; you can call us at any time if you feel you need to make changes in your plan due to a change in circumstances..

Is Debt Management right for you? - Speak to us for Confidential Advice
We're Open: Mon to Thurs 9am-9pm,  Friday 9am-5pm,  Saturday 9am-3pm
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You may also call us on 0161 972 3666.
Take 1 minute to get overview of your finances and detailed personalised analysis and advice.