Monthly Pay Plans

Repayments made affordable

Many people in debt think the only option available to them is Bankruptcy – but it’s not! At Baines & Ernst we could help you find a solution that enables you to repay creditors and clear debts without going through something as severe as Bankruptcy.

At Baines & Ernst, we believe in offering straightforward debt management services that make it possible for you to regain control of your finances. One of the most effective ways to do this is with an affordable monthly pay plan.

Only pay what you can afford

Debt Management Plans from Baines & Ernst are effective, flexible and most of all, affordable.

In the first instance, we will complete a detailed expenditure form with you. This will outline your current income and total outgoings to ensure the repayment plan fits with your budget and is as affordable as possible. If you agree to the plan we will then contact creditors and negotiate a more manageable repayment rate on your behalf and request that they freeze interest and charges on your accounts.  If your creditors do not freeze interest or charges this will lead to an increase in the period and amount being repaid.

A DMP is not a formal agreement so you are not bound by a contract. The advantage of this is that you have the flexibility to increase repayments if your financial situation changes – which will help you to repay your creditors in a shorter amount of time. Of 84% of debts managed we freeze interest and charges,  and we will discuss this with your creditors at the same time as negotiating lower repayments.

Although repaying your debts at a reduced rate will extend the period in which you repay creditors, you will have the peace of mind knowing that you are managing your debts at a rate and speed that’s comfortable for you.

For expert advice, call us on 0800 096 1331.