Debt management

We're here to help you deal with debt

The help you need

Let us help you repay your debts:

We can tell you which options are available

Talk to our debt experts today to see if a debt management plan could help, or if there's a different approach that's better for you.

We could negotiate with your lenders for you

We'll ask them to freeze interest and accept lower payments, letting you repay your debts over a longer period. They don't have to agree - we’re here to show them why we think it makes sense.

We could take care of everything

We're here to handle the paperwork, phone calls and payments to your lenders.

Please note: if you're not making the payments you originally agreed to make, this can affect your credit rating for the next few years, making it harder to borrow money in that time.

Could debt management help you?

£2,000

How much do you owe?

£50,000+

To give you the best options we can, we need a few more details.

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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. Just be aware that making lower payments than you originally agreed will affect your credit rating and can mean it takes longer to repay your debts, potentially costing you more in the long run.

Lenders don't have to accept a debt management plan - or agree to freeze interest and charges - we're here to talk to them on your behalf and show them why we think it's the best way for you to repay your debts.

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 - 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. So debt management means it takes them longer to repay their debts, but they should be able to afford each payment.

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 you can't afford your original payments. Plus, you'll need a regular income and you'll need to commit to every repayment for your plan 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 for lower payments. 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 - and if they call you, ask them to call us instead.

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?

Fees & Key information

Find out more about the fees involved with each debt solution.

Download the Insolvency Service guide to dealing with creditors.

Disclaimer

Speak to one of our advisers on

0800 195 2714

We'll help find you the best solution to your debts

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