Debt Management
So what exactly is Debt Management and how can it help you?
Many of us, at one time or another, struggle with our debts. Too much borrowed, a decrease in household income, unexpected and unavoidable expenditure can all put us in peril.
Tamar Finance provides a solution to allow you to regain control of your finances - a Debt Management Plan - a popular and flexible way to repay your unsecured debts at a manageable rate which you can afford.
We work with you to calculate an affordable amount you can repay each month and then negotiate these repayments with your creditors.
You then pay us the agreed weekly or monthly repayment and we distribute the agreed amounts to your creditors.
We are often able to negotiate a freeze or reduction on interest charges to further help you maintain your repayments.
You will be assigned with your own account manager who will manage your case and represent you personally and professionally - no call centres, no hassle - simply the very best service at all times.
On a daily basis we deal with dozens of credit companies and debt collection companies, such as Welcome Finance, Barclaycard, Provident, Vanquis, Capital One etc.
Debt Management Case Studies
We've helped hundreds of people just like you..
Mr & Mrs G had 2 credit cards, 2 store cards and a personal loan, with total outstanding balances of £13,900.
Their monthly payments were £395 per month. Their income had reduced as Mrs G had just had a baby, and they were really struggling to make their payments, particularly with another mouth to feed, and prams and cots to buy.
They contacted us, and we negotiated with their creditors a combined monthly payment of just £168 per month. We even managed to get the interest frozen on their credit cards and store cards.
Mr & Mrs G now pay us the one affordable payment of £168 per month, and we send the payments to their creditors. The phone calls and letters have stopped, and Mr & Mrs G now have the extra disposable income to pay for all those little things that the new addition to the family needs.
If and when Mrs G decides to return to work, they can increase their payments to their creditors and clear the balances at a faster rate.
Ms W came to us for help as she was £11,286 in debt to six different creditors. Everyday she was being harassed by constant calls from her creditors with regards to missing payments and arrears.
Ms W simply couldn't afford to pay for her household bills and her creditors with the basic monthly income she was on. Interest and charges on her accounts were adding up and Ms W was getting quite depressed with all the stress which was starting to affect her family life, stopping her and her children from enjoying the basic things in life.
Ms W contacted us and we arranged for her to reduce her payments from £392 to just £145 per month, which we now send to her creditors.
We negotiated with her creditors to get all chasing calls stopped along with interest and charges frozen on each account.
Ms W was very grateful for our service and told us she no longer suffers from the financial stress and now has more time for her family without worrying about money issues.
Mrs L was £12,600 in debt. She had a loan, 2 credit cards and 2 store cards. She was struggling to maintain the monthly repayments of £527 after developing a serious illness.
Unfortunately she had to temporarily give up work and began missing payments which resulted in the debt increasing.
After contacting us, we managed to work out a more realistic figure of just £203 which she could comfortably afford and which her creditors accepted.
Now her creditors have stopped their constant phone calls and have even frozen all interest.
Mrs L knows that when she gets better and returns to work, she can increase her payments as she wishes to clear outstanding balances more rapidly.
Mr H from Bath had an income £1180 per month, and was able to manage repayments on debts of £14,000 while living with his partner and child.
Unfortunately, the relationship broke down and the client found himself struggling with to afford his repayments of £352 and the additional Child Support Agency payments.
Mr H contacted Tamar Finance as we immediately got to work. In less than a week we had renegotiated with his creditors and he now pays one manageable monthly payment of just £163. Once again we also arranged for his interest to be frozen.
Mr H is now able to make regular visits to see his child and can afford to treat her to days out.
Tamar Finance is fully compliant with both consumer credit
and data protection legislation.