Do you want to
- Lower your monthly repayments?
- Freeze interest and charges?
- Let someone else deal with your lenders?
We may be able to help.
How we could help you
Our advice begins with the very first phone call. Often people come to us because they are worried about their debt and need a bit of help to get back in control of the situation.
- We don't judge
- Everything you tell us is completely confidential
- We're here to help you sort out your debt
We'll start by asking you how much debt you're in, who you owe the money to and how much you're spending every month. Once we've established your income and expenditure, we'll be able to tell you whether a debt management plan could work or if there are any other more suitable options available to you.
If you are struggling with your debt, come to us for help. We can tell you about the options available to you right now - and you are under no obligation to take our advice.
What is debt management?
Debt management is a repayment plan for people who can't afford their unsecured debts anymore, but could afford them if they spread the repayments over a longer period.
It could help you to repay credit cards, overdrafts, or loans in your own time. Your payments are designed to be affordable, so you can still budget for essentials.
Lenders don't have to let you lower your repayments, and some people don't want to negotiate with lenders direct, so they come to us for help with negotiating with them. We could ask your lenders to accept lower repayments, giving you more time to pay off your debts.
Repaying debt more slowly could increase the interest you repay overall. We do ask lenders to freeze the interest and charges on debts, but they don't have to.
A payment plan like this is only the best option if it's affordable - you'll need a regular income and you'll need to commit to every repayment to succeed.
Lowering your repayments will damage your credit rating for six years. Although future lenders would be able to see whether you made your repayments after you lowered them, you may struggle to get credit during this time.
What do we do?
We have an excellent reputation for being fair to lenders and borrowers and helping people to reach realistic agreements with their lenders.
We start with your personal budget and calculate what you can realistically afford to repay.
If debt management could help, we'll create a repayment plan for you. We approach your lenders to negotiate lower payments with them. We would also ask your lenders to freeze interest and charges on your debts - although lenders are under no obligation to do this.
We will handle all your correspondence from your lenders and deal directly with them, so you don’t have to. All you have to do is make sure you send any letters you may receive to us.
While you're on a debt management plan, we handle and distribute all payments to your unsecured lenders. You make one monthly payment to us and we distribute your payments for you. You only have to worry about that one monthly payment - we handle the rest.
Your plan would be reviewed regularly, to make sure it was still affordable and see if your circumstances have changed. You can request a review at any time. If you wanted to increase your payments, we could negotiate that with your lenders for you. If your circumstances changed and the plan was no longer affordable, we could tell you about other options that could be available too.
We have a team who can help if you've fallen into arrears with debts inside your Plan, or other debts, like your mortgage, or utilities, or Council Tax. They can advise you on what to do if you are threatened with bailiff action, or you are concerned about legal action from your lenders.
If you're struggling to repay your unsecured debts, why not speak to one of our advisers and see how we could help.