posted by Debt Advisor on Dec 29
Debt management is a process whereby a nominated representative such as Breathe Financial Management represents a person of family in their dealings with their creditors. Typically a Debt Management Plan is drawn up and the calculated disposable income that a person has after all of their important bils have been paid is disbursed to that persons creditors on a pro rata basis. This is the fairest way to share a persons available income for unsecured debt servicing and is used commonly by the UK courts in a similar way.
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