Debt Plan

No one can imagine the difficulty of being under a debt burden. It’s a point in life when creditors constantly send threatening letters, and legal notices, and call you at odd hours with the worst temper. They push for immediate payments, not allowing discussion of personal financial problems, leading to further borrowing. Just as doctors recommend a diet plan for a healthy life, IDMS recommends a sound debt management plan for a healthy financial status. Here are the steps we take when creating a debt plan for you:

1. We start by analyzing your monthly income and expenses.
2. After this analysis, we determine your current DSR (Debt Servicing Ratio/Repayment Capacity).
3. Based on this ratio, we revise your EMIs/monthly payouts to manage all liabilities satisfactorily.
4. This helps reduce interest burdens and avoid penalties and additional financial charges.
5. Next, we consolidate your debts to determine your net outstanding.
6. Finally, you can bid farewell to creditor hassles.

When you work with IDMS, we empathize deeply with your situation and analyze what you can realistically afford to pay creditors. Our goal is to help you manage your liabilities with your current resources, avoiding further borrowing. As debt management specialists, we provide advice on managing unsecured debts such as credit cards, loans, auto loans, and business loans. Through our proven debt management program, we empower you to regain control over your finances, rather than allowing creditors to dictate terms. We discuss your debts, income, and expenses to demonstrate to creditors that you cannot currently meet obligations. Debt management involves informal arrangements with creditors, where we negotiate on your behalf, alleviating your worries. We understand the stress debt causes and aim to lift this burden so you can enjoy life again without financial constraints limiting your vision for repayment.

You might end up making wrong or costly repayment decisions, potentially fulfilling less important obligations at the expense of more crucial ones. Managing multiple debts can be highly stressful, especially with payments due at different times throughout the month, creating a seemingly endless cycle without relief. Our debt management plan simplifies this process for you, ensuring you only pay what you can afford.

Usually, the new payment is less than half of your existing payments, but it will depend on your situation. IDMS provides debt management advice to help you repay your debts by offering someone to talk to about your worries. If you’re letting statements pile up and juggling balance transfers just to get by, let IDMS step in. We can provide you with debt advice regarding your loan or credit card liabilities; we can handle it on your behalf with your creditors. It’s easy to get trapped by debt, but there is light at the end of the tunnel, and it’s much less stressful than you might think. IDMS understands that discussing debts can be difficult, but we’re here to alleviate that stress for you. You’ll be surprised at how a quick chat about your situation with one of our friendly advisors can change your life. Let’s explore how our debt management plan can be the beginning of your journey to becoming debt-free. It’s easy to procrastinate, so call us now at IDMS or inquire online.