Fresh Finance is an established, professional debt management company who will negotiate with your creditors on your behalf to lower your monthly payments. If we manage to agree lower payments to your creditors then you in turn make one low monthly payment which we distribute evenly to your creditors

If you are accepted onto our debt management plan then your monthly payments will be reduced (perhaps by as much as 50%) than the sum of your individual separate payments. Once the creditors are paid regularly, you will receive a receipt confirming the amounts paid to them.

Once your creditors recognise you are entering a Debt management plan, they are usually willing to extend favourable terms to you. Your creditors will want to avoid the expense having you declare yourself bankrupt or having your account turned over to a debt collection firm.

The advantages of Debt Management

• Having one lower monthly repayment to make, which we then distribute to your creditors on your behalf
• Fresh Finance will handle any communication between your creditors and yourselves
• Once your primary living expenses have been factored in to your finance, you only pay what you can afford. This way, you can still pay those important bills and we look after the rest for you

Possible negatives of Debt Management

• If your debt exceeds £15,000 we will advise you to look into an IVA as an option for reducing your debts. With debts of this amount and higher we find that credit companies may not freeze the interest payments that are currently being charged on your debts because of late or reduced payments, which could lead to a never ending debt situation with larger debt cases.
• It will take you longer to pay back your debt due to the fact that you are paying less back to your creditors each month
• Although your creditors will accept the payments are being paid by Fresh Finance, they may also wish to register your arrears as a default notice with one of the credit reference agencies. This will almost certainly stop you from obtaining future credit whilst you are paying you’re your debt.

How do you charge for your services?

Unlike many of our competitors, Fresh Finance won’t charge the typical 15% monthly management fee. Our monthly management fee is simply based on the number of creditors that we have to pay on your behalf. Fewer creditors means lower management fee. Plus this fee is fixed for the duration of your plan!

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