A Debts Management Plan is often an ideal way to help you with your debts. The best way to find out if you are eligible is to speak with one of our expert debt advisors who will conduct a detailed factfind, so that we are aware of your financial circumstances and can find a debt solution to suit you.

Call Debts Management free today on 0800 0481 777 or fill out the Quick Enquiry form so that we can call you back.

Debt Management Criteria

Below is a list of the basic criteria which will be used to determine if you are likely to be eligible for a Debts Management Plan.
1.    You have unsecured debts of over £5,000.
Unsecured debts include: credit cards, overdrafts, catalogue debts and personal loans.  You might not realise that you have over £5,000 of unsecured debt, but interest and charges may well have been added to your debts if you have failed to keep up repayments. You should get an up-to-date outstanding balance from all your creditors to be sure of the actual figure. A debts management plan cannot cover any form of secured debt, such as secured loans, hire purchases and certain student loans. Any secured debts will be included in your factfind so your debt management payment will be paid from your surplus income.

2.   You have a stable income.
A Debts Management Plan is a debt repayment scheme where you will pay a fixed but affordable sum each month, which means that you must have an income of some form.  Besides the payments that go towards your secured debt, we ask that you can afford at least £100 per month for your unsecured creditors. However, your actual payment will be based on your individual financial circumstances.

3.    You are insolvent.
Being insolvent means that you cannot afford to repay your debts as they fall due. Try to avoid the trap of only repaying the minimum monthly payments and thinking you can afford your debts. Additional interest will be added to your debts each month which means it will take you longer to pay off the original debt!

I am Eligible for Debts Management. What’s next?

If think that you are eligible for a debts management plan, then it can provide some real advantages to you. The next thing that you need to do is get in touch with our expert debt advisors. For free advice about our debts management plans or to discuss our other debt solutions, call free today on 0800 0481 777.

Terms and Conditions apply. Debt Management Plans are for unsecured debts only, and the main benefit of this plan is the capability to only repay an affordable monthly amount, meaning it will take longer to repay your debts. You will receive allowances to pay Secured/Priority debts. Whilst you pay our initial fee, monies are not distributed to your creditors. Where contractual payments are missed your debt and repayment term could increase.