Getting into debt can happen for a number of different reasons, such as loss of job or breakdown of a relationship. But no matter what the reason why you are struggling with your finances, it is important that you take control of your debts as soon as you can.

Here are some simple ways to manage debts but we would always recommend that you seek professional advice. DebtsManagement.co.uk can offer you professional advice about how best to get your finances in order and if you would be suitable for one of our debt solutions, such as debts management.

1: Outgoings. One of the many reasons that people get into debt is because of lack of control over their outgoings. It is essential that you get your finances in order and work out where your money is being spent and how spot the areas where you can cut down your spending. One of the simple ways to manage debts it to record everything you spend on over the course of a month.

2: Cut down your outgoings. Now you are aware of how you are spending, it is time to cut down. Cut up your credit cards and avoid getting into more debt which is just too expensive in the long term. You don’t need to add to your debt, as monthly charges and interest payments only means that your debt will increase,

3: Work out a plan. Understand what debt you have outstanding and to whom you owe it to. This should make it easier to take account of where your money is going each month. You may find that your unsecured debt repayments are unaffordable when you include your essential living costs. If that is the case then move onto step 4…

4: Seek professional debts management help. There is no point struggling with debt alone. The current economic climate means that many more people are having to seek professional ways to manage debt in order to control their own debt management. DebtsManagement.co.uk are an ethical financial solutions company who offer a full selection of debt repayments meaning that there will be one suitable for you.

For more information about simple ways to manage debt and help from the experts, fill out the Quick Enquiry Form for a free callback from an experienced debt advisor.

Sadly, not all debts can be included in a Debt Management Plan as it can only deal with unsecured debts. Unsecured debts include overdrafts, store cards, credit cards and unsecured loans.

What Debts Can I NOT Include in a Debt Management Plan?

Examples of debts which cannot be included in a Debt Management Plan are:

• Mortgage
• Secured Loan
• Hire Purchase
• Conditional Sale Agreement
• Court Fines
• Council Tax
• Student loans, if taken out after September 1998.

If you are uncertain which debts you can or cannot include in a Debt Management Plan then it is essential to get professional help. DebtsManagement.co.uk have a dedicated Debt Management team who can advise you if your debt can be included in a Debt Management Plan.

Call today for Debt Management advice on freephone 0800 0481 777.

Remember that if your debts are over £15,000 then an IVA could be a better debt solution for you. An IVA means you could write off unaffordable debt and, typically, be debt free in 60 months. Get in touch and we can offer you further IVA information.

As well benefiting from making reduced monthly payments, some creditors will agree to a reduction, or even freeze, interest and other charges, which can stop your debts from increasing – ensuring that each payment made decreases the balance on your debt. However, this cannot be guaranteed.

How Much Debt Do I Need for Debts Management?

There is no certain amount of debt you need for a debts management plan, as it can cover an assortment of debt levels. They key issue is your ability to repay your debts as opposed to the amount of debt you owe.

A debts management plan allows those who can not afford the minimum required payments to make a lower and affordable monthly payment towards their debts. This could be because your debts have grown too large and you can no longer afford the repayments, or if your income has dropped.

Debts Management Plans offer a certain degree of flexibility and can change dependant on your circumstances. For example, if your income is reduced, you may be able to have your payments reduced so that they remain affordable. Alternatively, if your income increase you can have your plan changed so you can afford more.

I have high levels of debt, should I get a debts management plan?

A debts management plan is designed for those with lower levels of debt, typically under £15,000. If you debt levels are higher than that, then it may be worth considering an alternative debt solution.

An IVA (Individual Voluntary Arrangement) can reduce your monthly payment too. An additional benefit over a debts management plan is that you only make repayments for a typical period of 60 months. On completion of the IVA all unpaid debt will be written off.

For more information about either of these debt solutions, we would recommend that you seek professional and ethical debt advice. DebtsManagement.co.uk can offer you further information about either of these debt solutions. Call now on 0800 0481 777.

Sadly, not all debts can be included in a Debt Management Plan as it can only deal with unsecured debts. This means that any debts which are secured to goods or property, such a secured debt consolidation loan or a mortgage, cannot be included in your Debt Management Plan.

What Debts Can I Include in a Debt Management Plan?

Examples of debts which can be included in a Debt Management Plan are:

• Overdrafts
• Credit or Store Cards
• Catalogue debts
• Mail order debts
• Unsecured or Personal loans

If you are uncertain which debts you can include in a Debt Management Plan then it is essential to get professional help. DebtsManagement.co.uk have a dedicated Debt Management team who can advise you if your debt can be included in a Debt Management Plan.

Call today for Debt Management advice on freephone 0800 0481 777.

Remember that if your debts are over £15,000 then an IVA could be a better debt solution for you. An IVA means you could write off unaffordable debt and, typically, be debt free in 60 months. Get in touch and we can offer you further IVA information.

There are no set rules regarding how long it will take to pay off debts with a debt management plan. Unlike an IVA which typically lasts for 60 months, the timeframe of a debt management plan is dependant on a number of factors.

Everyone is different, as your level of debt and personal financial situation will not be the same as anyone else.

For example, even if two people have the same amount of debt, you may both have different amounts of disposable income which will mean that you both pay off different amounts towards your debt. Even if you have the same amount of debt and disposable income, your debts could alter in interest rates therefore the person with the highest level of interest will take longer to pay off debts with a debt management plan.

This is why we tailor the debt management plan to you.

Pay Off Debts with a Debt Management Plan

With a Debt Management Plan, you only pay what is affordable after interest and charges have been deducted. You should be aware that because you are paying off debts with a debt management plan it will take you longer to repay your debts.

The best way to find out how long it will take to pay off debts with a debt management plan is to seek expert debt advice. Please contact one of our DebtsManagement.co.uk debt management advisors on 0800 0481 777.

There are a number of ways which you can use UK debts management to your advantage. The right debt solution for you is dependant on your individual circumstances, and you should seek expert debts management advice before committing to any type of UK debts management programme.

Done in the correct way, a UK debt management plan can help you to decrease your monthly payments to your unsecured creditors. For a debt management plan, you can include a number of unsecured debts, such as personal loans, catalogue debts, store cards and credit cards.

UK Debt Management companies, like ourselves, can help you to deal with any issues that you are having with your debt worries. By reducing your unsecured creditor payments, many of our clients have found they can afford their priority debts much more easily.

UK residents (excluding Scotland) who have large amounts of debt may be eligible for an IVA (Individual Voluntary Arrangement). Like a UK Debts Management Plan, the debtor makes a reduced monthly payment to their creditors. However, unlike a debt management plan, an IVA only lasts for an average period of 60 months and any unpaid debt will be written off at the end of the IVA term.

There is not set criteria for a UK debts management plan, so UK debtors are best getting in touch with one of our dedicated debts advisors who will be able to offer debts advice and can arrange a debt solution which is designed to benefit your current financial circumstances.

Call our Debts Management advisors on freephone 0800 0481 777.

Types of Debts We Can Help With:

• Unsecured/personal loans
• Credit cards
• Store cards
• Overdrafts
• Catalogue debt
• Hire purchase (if you no longer have the vehicle)
• Disconnected mobile phone debt
• Doorstep lenders

Types of Debts We Cannot Help With:

• Certain student loans
• Child Maintenance payments
• Secured debt – such as a secured debts consolidation loan, car loan if secured against the car, home loans or a mortgage.

Debts Management have an expert team of debt advisors who can offer you free and ethical UK debt advice. Don’t worry if you think you have too little or too many debts, we are professionals in our field and will do our best to find a debts solution for you.

Debt Advisors: Unsecured Debts

Many people find that their unsecured debt levels is the first place where they start to struggle and begin to miss payments. If you feel that you are in this situation then our debt advisors can help you.

If your debt is unaffordable, we have a number of debt solutions which is on offer. The right one for you is dependant on a range of factors. Our Debt Advisors can offer you free guidance on:

• Debts Management
• IVA
• Debt Consolidation
• Remortgage
• Trust Deeds
• Full and Final Settlements
• Equity Release

You may be wondering which one of these solutions is right for you. Our debts advisors can help to explain the choices and how each one of these will benefit you.

Debts Management Advisor

A debts management plan is a potential debt solution, and we have Debts Management advisors who will go through your finances and arrange a debt management plan to suit your needs.

Even if you have a bad credit history, we are confident that we can find the right financial solution for you to help you manage your debt.

Our professional debt advisors are on hand to offer you free advice, contact them today by calling 0800 0481 777 or fill in the Quick Enquiry form for a free callback.

What are Bad Debts?

Bad Debts refer to those debts which cannot be collected, which is often a result of the debtor declaring bankruptcy or because the debtor simply cannot afford to pay anything off these bad debts. Bad debts mean that they can no longer be afforded by debtor, therefore the lender must declare them as a loss.

This is why those who have suffered with bad debts problems in the past will find it much harder to get accepted for credit in the future, as having bad debts will lead to a bad credit history.

Bad Debts Help

The best way to deal with bad debts is to seek professional debts management help, and the sooner you start to deal with your debt problem, the easier it should be.

There are a number of debt solutions which could help you deal with bad debt, and your debts management options could include:

Debt Management Plan: A debt management company could make your debts more affordable through a debt management plan. This will reduce your monthly creditor payments which will make your bad debts more affordable (although it will take you longer to pay off the total debt amount).

IVA: If you have bad debts over £15,000 then you may find that an IVA could be best suited to your situation. This allows a certain amount of debt write off meaning that you only pay what you can afford to over a period of 60 months. An IVA is a legally binding agreement between you and your creditors, and you must commit to making set, but affordable, monthly payments for a typical period of 60 months.

For further information about how we can help you with your bad debts, call Debts Management.co.uk on FREEPHONE 0800 0481 777 and one of our Debts Management advisors will be able to provide you further information about your available options, or fill out the Quick Enquiry form for a callback.

Budget – One of the reasons that you may be having problems with managing your debt is because you are spending beyond your means. If this is the case then you need to find a way to get your spending back under control, and creating a budget is one of the most effective ways to manage debt and your personal finances.

Make a list of all your essential outgoings, such as council tax and utility bills and work out your incomings. Make sure you include all forms of income including any benefits.

You will be left with your disposable income, and with the right budgeting you should be able to manage your debt much more effectively.

Priority Debts – Not all debts are created equal and there are specific debts which should be paid off before others. One of the effective ways to manage debt is to assess your priority debts. Work out which of your debts are classed as a ‘priority’, such as your mortgage and utility bills.

It is essential that you pay these off first. Failure to do so means that you will probably lose that service or, in the case of a mortgage or secured loan against your home, your creditor could repossess your home.

Manage Debt With Professional Help – You may find that your debt is too out of control and that you cannot afford to meet the creditor repayments and that you are cutting back on essentials in order to manage debt.

If you are in the situation where you can not manage your debt, then there is professional debt help available. A financial solutions company, such as DebtsManagement, can help you manage debt much more effectively by reducing the monthly amount that you need to pay to creditors through one of our debt solutions.