Leading debt management company, EuroDebt, is playing a crucial role in helping consumers to manage and take control of their debts. Illustrating the company's strong relationship with the majority of the UK's leading creditors, the company is currently able to get commitment to freeze interest charges within the first stage of setting up a debt management agreement for 89% of its clients.

"With the average interest rate on credit card lending reaching over 17% APR, it is easy to see how important it is to freeze interest for individuals already struggling with debt," explains Kevin Still, Director, EuroDebt. "Key to achieving this is the establishment of strong relationships with many of the leading UK credit and finance companies. With a full and documented understanding of a client's financial situation, we can negotiate with each creditor to try to get interest charges frozen. We can also agree a repayment schedule that the individual can sustain either to get their debt paid off in the long-term or to cover a shorter transitional period if the client is experiencing financial hardship arising from a major change in life circumstances."

EuroDebt aims to help its clients manage their debt burden, without becoming more indebted, through expert advice from its highly trained staff. Following a unique face-to-face home visit, EuroDebt is able to make a detailed assessment of a client's household income and expenditure, including unsecured debts in order to create a tailor-made Debt Management Plan (DMP).

Once a plan has been agreed, EuroDebt notifies each of the listed creditors of its appointment as the client's debt manager and also requests up-to-date balances for each account. At this stage negotiation with a client's creditors begins by requesting that interest and charges be frozen.

Still concludes, "EuroDebt has an excellent record in negotiating on behalf of new and existing customers to ensure their debt balances do not further increase. It is sometimes the case that lenders want to see a payment pattern established on a Debt Management Plan before they commit to freezing interest. We have therefore invested significantly in our Creditor Liaison function to maintain an effective long-term working relationship with a huge network of credit industry contacts, which can change frequently and be very complex in large organisations like a banking group. This means EuroDebt is often in the best position to help consumers get back on track by being able to quickly establish contact with the right parties in the lender organisations, where the client may have several accounts at various stages of indebtedness."

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