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Indebted customers repay nearly twice as much to creditors if they decide how much to pay themselves, according to Clarity Credit Management Solutions.

Customers who were in control of who they pay and how much they pay handed over 90% more to their creditors in April than customers being managed through the traditional letter and telephony process.

Of course you can only deal with your own finances if you get on top of them in time – too late and you will be at the mercy of bailiffs, judges and lenders. The sooner you can deal with your debt problems, the sooner you can get to grips with your own debts and work your way into the black.

Garry Stran, chief executive of Clarity says: “Customers who self-serve when setting up their debt repayment plan always pay more – they’re empowered by being given the responsibility to choose how much they can afford each month.

“They don’t think, ‘how little can I get away with’, they think, ‘how much can I afford?’ People consistently pay more on average on the site than they do when they set up a repayment plan in more traditional ways.”

If you want to know how much you can afford to pay back, safely, talk to a financial professional. Good debt management is all about finding a balance, working hard and continuing to make the most of your assets.

SOURCE: Clarity, 13/05/09

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