Debts Management is a solution to your debts where you pay a reduced amount to your creditors. It is an informal agreement between you and your creditors where you pay one affordable monthly sum which is based on what you can afford.
You make one payment to us which we will distribute fairly. As you are only making one payment it provides you with greater control over your outgoings.
A Debt Management Plan will help you make payments that you can realistically afford, as your monthly creditor payment is based on your finances. We will work out how much you have left each month after you have made your living expenses, such as mortgage payment and food shopping.
If you have debt between £3,000 and £10,000 which you owe to a number of different creditors, you are most suitable for a Debt Management Plan, but all circumstances are considered. If you have higher levels of unsecured debt then you might want to see our information on IVAs.
The process of a Debt Management Plan starts with one simple phone call to us, or take the Debt Test and see what other debt solutions are available to you.
As part of our professional debt management service, Debts Management will negotiate with your creditors to offer you a monthly payment which your can realistically afford, and creditors are sometimes willing to freeze any interest or charges.
A Debt Management Plan is not a legally binding agreement, which can offer you the advantage of it being a much more flexible program. So if your circumstances change, then we can alter your plan accordingly.
When Debts Management have agreed your plan, all you need to do is make one monthly payment to us, which we will distribute to your creditors.
For more information, please call our Debt Management advisors on 0808 131 9112, or fill in your details in the Quick Enquiry Form so we can call you back.