Debt Management

Take back control of your finances

Get debt consolidation without a loan. Monthly payments are based on affordability, no matter the size of your debts.

If you owe more then £2000 to 2 or more different companies and can afford at least £100 per month (or £25/week) towards repayments, we can help you.

Debt management consolidates all your unsecured credit repayments into one affordable monthly or weekly payment. This is done by our direct negotiation with creditors and debt collectors on your behalf.

We'll ask you about your debts, your income and living expenses. If this shows you are struggling to make repayments, we'll explain to your creditors that you are able to repay your debts, but not at the level you are currently being asked.

Once agreement is in place, you make a single weekly or monthly payment to us, which we distribute fairly amongst your creditors. Typically, the new payment is half your existing payment, but this is determined by individual circumstance.

Debt management works thanks to the consumer credit act 1974. This states that you can't be asked to repay more than you can reasonably afford towards unsecured debts. You must be allowed to afford essential living costs first.

Advantages of Debt Management

• A Flexible Debt Solution
  If your financial circumstances change for the better or for the worse, you can change payments by simple calling us, we'll take care of everything else.
• Avoid court action & legally binding agreements.
  Unlike an IVA, debt management is an informal agreement. It does not commit you to maintaining payments for (normally) 5 years nor declaring yourself insolvent as in the case of an IVA.
• Low minimum debt levels and repayments.
  Not everyone qualifies for an IVA due to minimum debt levels, minimum monthly repayments, and other personal circumstances. Debt Management can be a solution for debts as low as £2,000 where current contractual commitments are at least £150.
• No Need To Put Your Home At Risk.
  Unlike a secured debt consolidation loan, debt management does not run the risk of repossession should you not be able to maintain repayments.
  
  Unlike an IVA, Debt management does not require you to remortgage should you have significant equity in your property.

Debts We Can Help With

Debts from unsecured loans, credit cards and overdrafts can be included in a debt management programme. Also, any service that you are no longer using for which money is outstanding has the potential for inclusion. This could be for example, a disconnected phone bill or an outstanding utility bill from an old address.

The best solution every time

If your situation is not best helped by Debt Management, we will offer the most appropriate remedy. We are able to do this as we offer the full range of debt solutions.