Debt Management

This is an ideal solution for those who are struggling to meet their monthly outgoings and want to control everything with one affordable monthly payment without borrowing more money.

By entering into one of our structured Debt Management plans you benefit from our negotiation skills and the relationships we already have with many banks from acting on behalf of our clients.

Debt Management is often referred to as an informal arrangement as it allows the flexibility of being able to exit the plan at any given time should your circumstances change.

Payment terms to your creditors are determined through proving your income and expenditure, once this is agreed you pay us one monthly affordable payment which we distribute to your creditors on your behalf. Each month you receive a statement showing your new balances and that payments have been made.

Do I qualify? If you meet the following levels we can offer a Debt Management Plan:

• Minimum Debts of £1800
• Available monthly payment of £100
• At least two creditors and two lines of credit (i.e. not all Lloyds TSB)
• Debtors can be based in any location throughout the United Kingdom
• Relevant for either homeowners or tenants

Minimum monthly payments

The minimum contribution per month is £100 for a Debt Management Plan. A higher contribution will reduce the term of the plan and the amount of fees paid.

There are usually costs involved when taking out a debt solution which are there to cover the expenses and work undertaken on your behalf. With a debt management plan this consists of an initial fee and an ongoing monthly fee. Our monthly fee is 17.5% of your reduced monthly payment whilst the initial fee is the first two monthly payment.

You can cancel a debt management plan within 7 days of receiving the full terms and details of your plan. If you do change your mind within this period you will have nothing to pay and if you have already paid a fee this will be returned to you in full.