Find the best financial services for you at: SMARTFINANCESOLUTIONS.NET - I have just enquired about debt management and would like to know if the company is 'advising' me correctly? - I have some debt which I manage to pay off monthly without defaulting. I am a student and so although I can pay the minimum amount per month, it doesn't leave me any spare money and I am getting increasingly frustrated by the amount of interest I pay. I have two options: continue to pay the minimum amounts but struggle throughout the next three years and pay back much more than the original borrowed amount; or take the advice of the debt company and have my monthly repayment brought down considerably and have the interest frozen. Although the second option appears to be the better of the two, I'm concerned about having a 'default' showing on my records. Apparently the 'default' disappears within 6 years of the agreement being taken out, or in an additional 6 years if the full amount hasn't yet been paid off but I have heard that said of bankruptcy also and through my own research I have found this not to be true. My main concern is that there would be permanent damage to my credit rating affecting my ability to live abroad or obtain a mortgage etc. -