What does a Personal Finance Manager do?
If you`ve entered a debt management plan through Gregory Pennington, you may want to know exactly where you`re up to with your debts from time to time.
That`s where a Personal Finance Manager (PFM) comes in. Your PFM is your first port of call whenever you need to ask a question about your debt management plan.
How a Personal Finance Manager can help
When you arrange your debt management plan through Gregory Pennington, you will be assigned your own individual Personal Finance Manager, who will be your single point of contact.
Answering your questions
Your PFM can answer any questions or queries you may have for the duration of your debt management plan. Whether it`s questions about your debt management plan itself or about any other financial matters, your PFM will be there to provide the answers you`re looking for.
Communicating with your creditors
We understand that communicating with your creditors by yourself can be time-consuming and confusing. For that reason, we communicate with your creditors on your behalf, so you don`t have to.
Once you have entered a debt management plan with Gregory Pennington, your PFM will be your permanent point of contact between you and your creditors. If you need to communicate with your creditors, your PFM will take your message and pass it on. Likewise, if your creditors need to contact you, they will do so through your PFM.
Dealing with changes in your circumstances
We understand that from time to time, people`s circumstances change. You may experience a pay cut, for example, or an accident, that means you are no longer able to continue with the debt management plan under the original terms.
If that is the case, your PFM may be able to negotiate a change in your debt management plan to allow you to repay your debts at a manageable pace once again.
Throughout your debt management plan, your PFM will carry out regular reviews of your finances and negotiate new arrangements with your creditors if your situation changes.
Likewise, if your income rises, your PFM will try to arrange an increase in your payments to help you repay your debts more quickly.
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