Debt Management Companies - what do they do?
- Negotiate affordable repayments that all lenders are happy to agree to - although they don't have to
- Offer help and support with legal issues resulting from debts
- Manage and distribute repayments to all unsecured lenders.
Gregory Pennington - Debt Management Company
Gregory Pennington was established in 1993 and we have helped thousands of people with debt problems since then. We are one of the largest and longest-established debt management companies in the UK.
If you are having problems with debt, chances are we could help you. Since 1993, we have grown and can now offer a range of debt solutions besides debt management, including IVAs (Individual Voluntary Arrangements), DROs (Debt Relief Orders) and bankruptcy, as well as debt solutions in Scotland.
As part of Think Money Group, we can also provide access to a range of helpful financial products including insurance, mortgages, loans and a personal account.
What does a debt management company do?
People fall into debt problems for all sorts of reasons, and often debt problems are associated with unfortunate events, such as redundancy or divorce. Often people try to borrow their way out of a debt problem - but this can actually make things worse as you try to manage lots of different debts.
That's where we can help - we are there for people who are finding their debt unmanageable and need some professional help to deal with their lenders.
We can often negotiate affordable repayment plans with lenders - although they are not legally bound to accept our offers.
We can advise on legal issues arising from debts and we can manage the relationship between lenders and the people who owe them money. Most of the time, our clients don't have to speak to their lenders anymore, if they don't want to. And if a lender still gets in touch or sends any correspondence, our clients can simply direct them to us or forward the letter in one of your prepaid envelopes.
What should I look for in a debt management company?
We believe we behave fairly to people in debt and the lenders that they owe money to. We can be an entirely neutral third party that can bring about a repayment plan that is agreeable to lenders and fair on the people struggling with debt problems.
We have made The Sunday Times 'Top 100 Places to Work' and have Investor in People status, which means we go the extra mile to make sure the people who work for us are well trained and able to help our clients in the right way.
Debt management companies specialise in helping people to find their way out of a debt problem. If you have been affected by debt, request a call back from one of our advisors to see how we could help.