Debts Management Plan

Debts Management is a solution to your debt problems which allows you to pay a reduced amount to your creditors. It is an informal agreement between you and your unsecured creditors (those who you are in debt to) where you pay one affordable monthly sum which is based on your financial circumstances.

A Debts Management Plan offers you:

• Lower monthly payment that you can afford.
• One single payment, no matter how many creditors.
• Flexible plan which can change with your circumstances.
• We will endeavour to freeze all Interest and charges (although this cannot be guaranteed).
• An end to worry and stress about your debt, as we will deal with your creditors on your behalf.

Debts Management means that instead of making multiple payments to a number of creditors, we will consolidate your debt so that you make one payment to us which we will distribute fairly between your creditors. As you are only making one payment it provides you with greater control over your outgoings.

Debts Management is most suitable to those who have debt levels between £3,000 to £10,000, spread over a number of creditors. All financial circumstances are considered, and if a debts management plan is not the right debt solution for you then there are other alternatives. If you have a higher level of unsecured debt then you might want to see our information on IVAs, which will allow you to write off any unaffordable debt.

Manage Your Debts

A Debts Management Plan means that you make payments that you can realistically afford, as your monthly contribution towards your debts is based on your finances. We can help you manage your debt by working out how much money you have left each month after you have made your living expenses, such as mortgage payment and food shopping.

If you are struggling with debt, then a Debts Management Plan is a great way to gain back control of your money. We will deal with your creditors on your behalf and could offer you a lower monthly payment to service your debts. Affordability is one of the main advantages of debt management, as you will be paying an agreed amount towards your debts which will be based on your own unique circumstances.

Debts Management Process

The Debts Management process begins by getting in contact with our expert debts team. You can contact us by calling our freephone number 0800 0481 777 or filling in your details in the Quick Enquiry form.

As part of our professional debts management service, our Debts Management team will negotiate with your unsecured creditors to offer you a monthly payment which you can realistically afford. Creditors are sometimes willing to freeze any additional interest or charges on your debts.

A Debts Management Plan offers you a greater degree of flexibility. Your plan is not a legally binding agreement which means that should your circumstances change, your monthly payment can be altered accordingly.

When the Debts Management team have agreed your plan, all you need to do is make one monthly payment to us, which we will distribute to your creditors.

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.