Debt Management

A debt management plan (or DMP) is an informal agreement between you and your creditors, to allow you to get back on track with your finances.

Let us deal with your unsecured creditors on your behalf

Take advantage of professional debt management experience dealing with UK creditors, and escape from creditor hassle.  We will negotiate with your unsecured creditors, try to freeze interest and charges and agree an achievable monthly repayment.

Repay debt at a rate that suits you

A professional debt management company, we review your finances and look at what you can realistically afford to repay. We make sure your agreement leaves you enough money left over to get on with your life.

A Debt Management Plan is subject to conditions and acceptance, your credit rating may be affected. Fees are payable if a service is provided. Repaying debt over a longer period of time may increase the total amount to be repaid.

Get debt management help now

Benefits

  • Let us take care of all paperwork and creditor calls
  • Reduce debt repayments by 50%*
  • We negotiate to try and freeze interest and charges on your debt**

Key info & fees

Further information on fees and debt help

* Average customer payment reduction based on a survey between 1st March - 31st May 2012. Note that some customers could not afford to make make any payment when they first contacted us. 

**  Freezing of interest and charges is down to creditor agreement and is not guaranteed.


See if you qualify for help today

£2,000 or under£30,000 +














What is debt management?

When you are no longer able to afford repayments, a debt management plan is a flexible agreement with your creditors to repay debt.

This means that you can repay what you can afford and increase or decrease payments at any time to suit your needs. Or, if you come into any money, you can pay off a lump sum.

We understand....

We understand that struggling with debt can put a huge burden on your day to day life, but you don't have to go through it alone. We specialise in debt help, so whether it's a debt management plan or another debt product, we'll be able to help.

A debt management plan isn't for everyone and there may be another plan better suited to your needs, our advisors will be able to tell you what's right for you. If you are already on a Debt Management Plan you can contact us for expert debt advice and a review of your finances.

Let us deal with creditors for you

If you're struggling to repay debt to 2 or more unsecured creditors, we can speak to them on your behalf and put together a debt management plan for you that could help you to clear your debt, meaning less stress and worry for you.

If the DMP is agreed by your unsecured creditors, you will have no further dealings with them and any future correspondence will be done by us.

  •  It pulls all your unsecured credit such as loans, credit cards, store cards, catalogues and overdrafts into one payment, without the need to borrow any more money.

 

  •  It allows you to pay only what you can afford per month, leaving you with funds leftover to pay for everyday living.

 

  •  It allows you regain control over your finances.

 

  •  We negotiate to have charges and interest frozen on your debt.

How Debt Management Works?

The idea of a debt management plan is to allow you to pay off your debts at a rate that you can afford. There is no point arranging a plan where you are still struggling to meet monthly payments, so we will take time to look closely at what you can realistically pay per month, and arrange a plan tailored to you.

Let us take care of your debts

A debt management plan works by looking at your income and outgoings and working out what you can realistically afford to repay per month. Then we take care of negotiating this smaller payment with your unsecured creditors to agree an informal arrangement. Our team of experienced advisors will give you…

Expert Debt Advice...

  • Review your finances, income and outgoings, and help you take stock of your loan, store card, credit card, overdraft payments, and any other creditors
  • If it is right for you, provide you with a debt management plan based on your individual circumstances, and talk you through the process.
  • Calculate what you can actually afford to repay.

 

Leave it to us to...

  • Prioritise and allow for your essential day-to-day bills.
  • We will then negotiate with your unsecured creditors to try to reduce or freeze interest and charges and agree an affordable plan.

 

Ongoing peace of mind...

  • You simply make 1 single monthly payment and we distribute that to your unsecured creditors as agreed.
  • Money will be distributed on a pro-rata basis between your unsecured creditors, ensuring that each creditor is being paid fairly.
  • Our dedicated account management team will be there to guide you, keep you informed and manage all incoming creditor enquiries.
  • You gain control of your debt problem . If your circumstances change we will re-negotiate your agreement, and consider other more appropriate plan if applicable.

 

Maintaining your Debt Management Plan

  • You must continue to make regular monthly payments as agreed
  • You can inform any unsecured creditors that contact you that we are dealing with your debt, and we will deal with them on your behalf
  • You should continue to pay your priority debts such as your mortgage, council tax etc.
  • You should not miss payments towards your debt management plan

 

What are the advantages of a Debt Management Plan?

  • You make one single monthly payment - that you can actually afford.
  • We deal with your unsecured creditors on your behalf .
  • Brings you a step closer to gaining control over your debt, without the need for a loan.
  • We negotiate to try and get interest and charges frozen on your debt.
  • Expert advice and support from us throughout.
  • You can rest assured that each of your creditors are receiving a payment on time each month.
  • Regain control over your debts.

 

What are the disadvantages?

  • You may get a bad credit rating from your unsecured creditors because you are not making the payments you originally agreed.
  • If your bank is one of your unsecured creditors, we advise that you change banks as they can freeze your account.
  • Making lower monthly payments means you could be paying the debt back for longer, although we will try to freeze interest and charges.
  • It's an informal agreement, not legally binding so you are not legally protected from your creditors.
  • Although we will deal with your creditors on your behalf, you may receive calls and letters from them for the first 2 or 3 months whilst we are setting the debt management plan up with them.

Debt Management Customer Feedback

Mr Stevenson from Bolton

Friendly, helpful, understanding, professional. Take the weight of my money problem's off my shoulders. I can sleep better. Very happy with all contact with Debt Advisory.

 Mr Maddox from Leicestershire

Excellent customer service. Any issues / problems encountered in the last two years have been dealt with extremely professionally and swiftly. Good advice has always been given.

 Mr McBride from Co.Antrim

The staff are very friendly, and listen to your problems and respond on phone or by letter very quickly.

 Mr Vaughan from Aberdeenshire

Very, very helpful and friendly service. They take the worry and pressure away, they certainly helped me through a difficult period.

Mrs Pantling from Dorset

I changed repaying my debts from another company to you as the service is so much better! You keep your promises and resolve problems quickly.

Mrs Smith from Durham

Extremely helpful staff! Everyone who calls eases the stress with their friendly and caring attitude. Without your service we would be suicidal.

 

 

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