Debt Management

MDL Financial Consultants Limited is one of a limited number of Firms in the country authorised by the Central Bank of Ireland to provide Debt Management Services.

Debt management is a process by which consumers plan to use their available financial resources to discharge their outstanding debts over time in an efficient manner, to the maximum extent possible.  It can arise where a debt is in arrears and or overdue with some or all debts, or where the consumer is not in arrears at all, but wishes to manage their repayments in a more efficient or cost–effective manner if possible.

As part of that process, it may be necessary for some consumers, or someone acting on their behalf to negotiate with creditors to restructure or forgive or write-off some debts in order to achieve a sustainable solution to the repayment of the consumer’s debts.

A debt management plan can help a consumer in a number of different ways:

• it brings a consumer’s total debts into account in a single unified plan, rather than the consumer attempting to deal piece meal with different debts and creditors at different times;
• it helps the consumer to prioritise their debts, so that available resources are first targeted at the priority debts;
• it can help the consumer to budget in a structured manner to meet their living expenses and agreed debt repayments;
• It may help some debts to be restructured to reduced regular repayments to a repayment level which the consumer can afford;
• it can help the consumer to budget in a structured manner to meet their living expenses  and agreed debt repayments;
• it may help some debts to be restructured to reduced regular repayments to a repayment level which the consumer can afford.

Our fees for Debt Management Services can be found in the Fees section.