A Debts Management Plan is an informal agreement between you and your unsecured creditors. It will allow you to consolidate your existing unsecured debt into a debt management plan. This means that you will be able to make one lower monthly payment, which should alleviate any financial stress that you might have with your secured debts.

The Debt Management Process

To get started with the debt management process, you need to get in touch with us and it is simple to do so! Fill in the Quick Enquiry Form or phone 0800 0481 777 to speak with one of our expert debt advisors.

Our debt advisors will perform a ‘Fact Find’ and take down all the details of your debts, so that we can get a full picture of your requirements and are in the best position to inform you of your potential debt solutions.

Once you have decided that a Debt Management Plan is the right debt solution for you and that you are aware of the advantages and disadvantages, we will send out one of our information packs. These packs will tell you everything you need to know about how managing your debts with a Debt Management Plan can help you to organise your outgoings and reducing stress on meeting other financial commitments.

From here, we will negotiate the deal with your creditors. Although this cannot be guaranteed, your creditors may be willing to freeze interest and charges on your debt.

Periodically, we will review your account to make sure that everything is running smoothly and we are providing you with the best debt management service possible. As it is an informal agreement with your creditors, your plan can change to reflect any changes in your financial status.

What do I need to do during the Debts Management Process?

Your role is simple. After you have gone through your details with us, such as how much you owe each creditor, your living expenses and how much you can afford to your unsecured creditors each month, we will send you out an information pack detailing your plan, and all you need to do is to sign and return it to us together with any necessary paperwork that we request from you.

Then, you just need to make one affordable monthly payment to us which we will distribute fairly amongst your creditors. You should find that your finances will be less of a struggle and that you will have spare cash to go towards your secured debts, such as your mortgage or hire purchase.

If you want more information about how the debt management process will work for you, please call our Debts Management team today on 0800 0481 777.

Still not sure if a Debts Management Plan is the right solution for you? Call now for free advice

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.