Debt Management

A debt management plan could help bring your finances back under control

Debt management
could help you:

  • Make your monthly payments affordable
  • Reduce or freeze interest and charges
  • Stop letters and calls from lenders

Do You Qualify For Debt Management?

Call 0800 970 7673

Fees & Key information

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

Find out if you qualify for Debt Management

Tell us about your situation

Tell us about you

Useful free guides

Download the Insolvency Service guide to dealing with lenders.

Download the information package from Scotland’s Insolvency Service.

Debt management callback

Complete this simple form and an adviser will get straight back to you

We will treat your call in the strictest confidence and you will only be asked to supply information required to find the best solution to your debts.

Debt Management: how it could help

Here is an example of how a Debt Management Plan could make your debts more manageable.

Credit card £7,000
Personal loan £6,000
Store card A £3,000
Store card B £2,000
Total owed £18,000
Current monthly repayment £700
With a Debt Management plan:
New repayments £250

Repayments are based on affordability and vary from case to case.

Need debt advice?

Call 0800 970 7673or fill in our simple form to receive a free no obligation call back from a friendly, experienced adviser.

How debt management works

You talk to our partners in confidence about your debts

They talk to your lenders about reducing your payments

Once it's been agreed, you'll make a single affordable monthly payment

If your monthly debt payments are higher than you can afford, a debt management plan could bring your finances back under control.

How? Basically, your lenders might agree to change your repayment plan if they can see that this will help you repay your debts - even if it's more slowly than they'd expected.

One of the main things they could do is accept lower monthly payments.

Our partners could negotiate with them on your behalf, asking them to accept reduced payments that reflect what you can realistically afford. As long as your lenders can see you're doing your best to pay what you can, there's a good chance they'll agree to this - after all, you can't pay what you don't have, and a County Court usually won't order you to pay more than you can genuinely afford.

So how much should you offer your lenders?

Bear in mind that they're unlikely to agree to lower payments unless they can see you're repaying as much as you can - and distributing it fairly among your unsecured lenders.

Our Partners will go through your finances with you, working out exactly what's coming in to your household and what's going out. They'll propose a way of sharing out the difference (your 'disposable income') in a way that's transparently fair to everyone involved. Then, they'll get in touch with your lenders and negotiate on your behalf.

And lower monthly payments aren't the only thing. While it's not guarenteed, your lenders may agree to reduce or freeze interest and waive other charges, giving you a much better chance of clearing your debts at an affordable pace.

A note about debt management

Lenders aren't obliged to accept any changes to your repayment plan. That's one reason many people choose to work with a professional debt management organisation, rather than negotiating with lenders on their own.

With almost 20 years' experience working with borrowers and lenders, our partners know how to negotiate. They know how debt works. They enjoy long-standing relationships with all the major lenders. In short, they could help you secure affordable repayment terms - by showing your lenders that it's the best way forward for them as well.

Of course, 'defaulting' on your original agreements will show up on your credit report, whether you're working with debt management experts or tackling your debts on your own. And of course, repaying any debt more slowly will delay the day you're debt free and can increase the overall amount you end up repaying, unless your interest is frozen. Debt management isn't always the answer. Depending on your situation, other debt solutions might be a better way for you to regain control of your finances and start clearing your debts.