Owned and managed by Lin International Debt Management
Owned and managed by Lin International Debt Management
Yes, you can access debt management services from anywhere in the world. We can negotiate with banks, suggest payment plans, go over options with you, and complete settlement arrangements on your behalf if you give us permission to do so.
The AECB credit report provides a detailed record of your payment history, including credit card, loan, and other credit account activity, as well as bounced check history. Reported by your creditors, this information reflects how much debt you carry, your payment timelines, and whether you have repaid loans consistently.
A credit score is a three-digit number that reflects your creditworthiness, ranging from 300 to 900. Higher scores indicate lower risk to lenders. In the UAE, the Al Etihad Credit Bureau (AECB) calculates this score based on your financial behavior, including credit, mortgage, and utility payment history. Generally, a score above 700 is considered favorable by lenders.
Debt consolidation combines multiple debt repayments into a single monthly payment. This approach is intended to ease financial stress by reducing monthly installments. It’s a broad term for any solution designed to streamline payments into one manageable amount.
In debt consolidation, a large loan is often taken to pay off smaller debts. This loan may come with a high interest rate, so it’s essential to ensure it’s a cost-effective option. Factors lenders look at include your credit score, payment history, and overall affordability. For those with short-term, high-interest debt, this can be a helpful solution, though it may not suit individuals with secured loans or substantial long-term debt.
Yes, even with a low credit score, you can explore debt management options. If past financial issues have affected your credit, working to resolve arrears and staying consistent with payments is crucial. Debt management can provide structured solutions and guidance to help you manage and improve your credit over time.
Debt management is ideal for individuals facing challenges in meeting monthly debt obligations. A quick assessment with a debt professional can help determine the best course of action tailored to your financial needs, ensuring you understand all available options before proceeding.
Debt consolidation combines multiple debts into a single payment, typically through a new loan. Debt restructuring, however, involves modifying the terms of existing loans, such as extending repayment periods or lowering interest rates. Both aim to make debt more manageable, though they cater to different financial situations.
Debt management may have an initial impact on your credit score, depending on the steps taken. However, as you make timely payments and reduce debt, your credit score can improve over time. A professional advisor will explain potential impacts and benefits, helping you make an informed choice.
The timeline varies based on individual circumstances, such as debt amount and repayment capability. A debt management plan typically spans several months to a few years, depending on the level of debt and agreed-upon repayment plan. Our team will guide you on realistic timeframes during your initial consultation.
