A debt management company acts as a mediator between your creditors and you. You will usually pay them a fee. If the fee is high, it can cause you to take longer to repay your debts.
It is possible to distinguish between a reliable debt management company and one that is commission-based. This means they will try selling you as many services as possible. To ensure happy customers, ask for references from former or current customers. If you really need UK Finance help then you can take best service to get right advice.
You deposit money into a debt management service and they then monitor that account to ensure creditors are paid promptly and according to the agreement. The agreements negotiated usually include reduced fees, reduced interest rates, or stopped interest. They also have a lower settlement value for the entire credit cards balance.
It is important to be punctual in your payments. You should also check your statements every month to ensure that your creditors are getting paid. It is a good idea to check in with them regularly to ensure they are receiving their debt management service payments.
This is important as it will protect you from falling behind on your payments. You'll have to make the monthly larger payments under the terms. This is what brought you into bad debt.