Financial Services

The debt management plans are a service provided by financial institutions to their users. The purpose of these plans is to eliminate all the debts in time limits established for that entities play a mediating role between the debtor and its creditors. Once the plan has been established that correspond to the debtor’s payment capacity, the company that manages the plan will pay a certain sum of money as a period determined by the various creditors. As such, it distributes the debtor’s payment of money in various percentages, directly proportional to the debt you have with each creditor. The durability of a debt management plan is usually long, but its duration depends on:

While in a debt management plan, you must remember important factors

The management plan for your debts must be realistic, if not, will never work. You have to be totally dedicated to make your payments. Consistency is extremely important, because if you do not make your payments on time, the whole plan falls apart and you’ll find more debt than you had before.

An advisor will ask all the necessary information to develop the plan, total amount of debt, how much you make per month, types of debts you have, and so on.

Once the adviser to take over the debt will negotiate on your behalf with your creditors. This process can eliminate your back payments and other additional fees and in most cases the interest rate is also reduced.

Each month you will have to find a way to raise the money necessary to make the monthly deposit plan with your advisor. Any interruption in payments can be very harmful to the plan.

The monthly payments you make to the company will be used to make individual payments to your creditors.

At the intersection between international and domestic finance, management of public affairs and information technology, the program helps governments of developing economies and transition countries to build capacity for debt management at all levels.

Currently works directly with more than 60 middle-income countries whose economies and low total more than 500,000 million of outstanding long-term debt, public or guaranteed by the public sector. This amount represents approximately 40% of the total long-term debt of all developing countries.
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