Dubai-based ISDM, a credit counseling and debt management company, is set to hold its first free, public open house counseling event where participants can get advice on issues related to debt and credit card management.

“We are here to help manage people's debt to enable them to have a more comfortable, more productive life,” said Yohannes Mazeingia, managing director, ISDM.

“The event will provide an ideal platform for participants to understand the system and therefore how to better deal with financial institutions in the country.”

The event will be held on May 14 and is open to all on a first-come first-serve basis. This is the first of many such consultancy workshops ISDM intends to hold over the summer months.

ISDM is working with a number of private and public organizations to help reduce their employees' debt burden.

The services on offer from ISDM include restructuring, negotiation, settlement and consolidation. With the restructuring and negotiation solution, ISDM negotiates with the bank for a reasonable payment solution within the individual’s budget, a statement said.

In the settlement solution, ISDM works for a final settlement amount agreeable to both the individual and bank, it added.

Finally, in the consolidation solution, ISDM works with the banks to consolidate personal liabilities into one payment with a lower monthly installment and an extended loan term, according to the statement. – TradeArabia News Service