Financial Management
Consolidate debts into affordable, flexible payments without getting another loan.
- One weekly or monthly payment
- We deal with your creditors
- Payments from £80 per month
A financial management plan allows you to repay your debts at an affordable level once you have met your living expenses.
Also known as debt management, it's an arrangement with your creditors (the companies to whom you own money) negotiated by us, which allows you to repay credit based on what you can afford, rather than how much you owe.
Financial Management - Key Benefits
Did You Know?
Currently about 750,000 people in the UK are using a financial management plan to repay their debts.
- Affordability.
No more struggling to find money you have not got. - One monthly or weekly payment.
No more juggling many payments, all on different days. You make a single payment to us and we make timely payments to your creditors. - Less Stress.
We deal with your creditors/debt collectors. Refer letters and phone calls to us, we'll represent you. - Flexibility.
If your circumstances change, you may be able to lower or raise your payments accordingly or decide you no longer need our services. There is no binding contract. - Interest Stopped On Debts*
In the majority of cases, we are able to get charges stopped and future interest suspended. - Legal support.
We assists our clients in preventing threatened legal action or defending legal action.
Financial Management Example
|
If your debt repayments are as follows:-
Overdraft:
£35/month
Credit Card 1:
£60/month
Catalogue Arrears:
£35/month
Personal Loan 1:
£130/month
Personal Loan 2:
£190/month
Total
£450/month
|
After entering into an financial management plan they could be:-
New Payment
£130/month
% reduction
71%
Payment levels are based on the affordability of applicant & subject to creditor acceptance.
|
Interest Stopped on Debts*
We currently have agreements in place with 86%* of creditors to freeze interest and to stop charges on our clients' debts. This includes the majority of the pay-day type lenders. While we can't guarantee that any creditor will agree to do this for any given debt, we generally expect them to do so once a reduced offer of repayment has been accepted.
(* 86% of creditors by total value of debt under our management on behalf of clients)
Why Harrington Brooks?
We have over 30,000 clients trusting us to manage their credit repayments. We offer a full range of debt solutions, therefore you can be assured we recommend financial management only when it's the most appropriate solution for you. We take a holistic approach to helping our clients' repay credit and so provide a full financial review as part of the service, this includes:-
Benefit Checking
When reviewing our Client's financial affairs we look to see if they are any State Benefits to which they or their family may be entitled to, but are not receiving. For those whom we do identify a claim - on average we help increase their income by £900 per year. See Benefit Checking »
Utility Switching
In partnership with USwitch, we provide our clients with a Utility Switching service. This ensures they are on the most suitable tariff for their location and usage, which can save up to £400 per year on household bills. See Utility Switching »
*Tip, move the sliders with your mouse, or click to select a
slider then move with your keyboard arrow keys. You can also enter digits into the boxes.
Important Considerations
Before entering into a financial management plan, you should be aware of all the implications, your rights and the fees involved. Please see key information and fees.