Debt Management Plans

If you're struggling with your unsecured debts, a debt management plan could help you get out of debt with payments you can afford.

• You make one reduced monthly payment
• We negotiate with your lenders on your behalf
• We handle all phone calls and letters from your lenders.

Do you qualify for debt management?

Answer a few simple questions and we'll let you know if debt management could be an option for you.

Your Situation

Your total debt: Please select... £2,000 to £7,000 £7,000 to £12,000 £12,000 to £19,000 £20,000 +

What debts should I include?Please include all your unsecured debts from loans and overdrafts to credit cards and store cards. You don't need to include any debts that are secured against your property.

Your location: Please select... England Wales Scotland Northern Ireland

Why do you need my location?Different countries offer different debt solutions. Your location will help us determine the best debt solution for you.

Employment status: Please select... Employed full time Employed part time Self employed Unemployed Retired Student

Is my employment status important?Your employment status and income will affect which debt solutions are available to you.

Your email: (optional)

Your Details

First name: Surname: Telephone 1:

Why do you need my number?By entering a valid mobile number we'll be able to text your results to you. We'll also call you to talk you through your options and answer any questions you may have.

Telephone 2: (optional)

I agree to the privacy policy:

Please remember, this is just an information tool. We would always recommend you speak to a debt advisor for the most appropriate way to resolve your debt problems.

We'll give you an on-screen recommendation and call you. One of our advisors will be in touch to answer any questions you may have about your results.

Your privacy is important to us. All correspondence is held in the strictest confidence and we will only request information required to find your debt solution.

What is a debt management plan?

A debt management plan is a repayment plan designed to get you back in control of your unsecured debts, so you can declare yourself debt-free as soon as possible.

If you're struggling with your unsecured debts, a debt management plan could help you get out of debt with payments you can afford.

How does a debt management plan work?

Entering into a debt management plan could be the best way of repaying your debts - with payments you can afford.

A debt management plan works like this:

• We'll figure out how much you can afford to repay your unsecured lenders per month
• We'll ask them to accept lower payments on your behalf
• We'll ask them to freeze interest and other charges (although we can't guarantee they'll agree to this), so you're directly paying off your debt - not the interest too
• We'll deal with your lenders' letters and phone calls
• You'll just make one tailored payment per month - and we'll deal with the rest.

No stress about making multiple payments to multiple lenders every month. No time-consuming correspondence with letters and phone calls. No worries that your monthly repayments are simply too high for you. Just a realistic path out of debt that you know you can afford.

Is a debt management plan right for me?

Are you unable to afford your agreed monthly payments? Are you repaying your lenders late, or missing payments? Would making lower monthly payments make a huge difference to your finances?

If so, a debt management plan could be the best way of tackling your debts.

It could be exactly what you're looking for if:

• You want someone to deal with your debts for you
• You want to get out of debt without a loan
• You want to become debt-free without stretching your finances too far.

If you think a debt management plan could be right for you, speak to a professional debt adviser and find out how it could benefit you: helping you to pay your unsecured debt payments, your bills, mortgage and other 'priority' debts, stopping lenders' letters and phone calls and potentially saving you money on interest.

Are there any alternatives to a debt management plan?

Of course, a debt management plan isn't always the ideal solution. There are other ways of getting out of debt that may be more appropriate for you - such as an IVA (Individual Voluntary Arrangement).

Again, talk to one of our experts and find out how we can help you.

What are the pros and cons of a debt management plan?

Pros

A debt management plan is designed to give you a realistic way of repaying your unsecured lenders. It could allow you to:

1. Make one payment every month, tailored to your situation
2. Freeze or reduce interest and charges on your debts if your lenders agree
3. Get out of debt without the need for a loan.

Cons

However, it's also important to be aware of the downsides of a debt management plan:

1. Your credit record will show that you have not maintained your original agreements and this will affect how easily you are able to get credit in the future.
2. Making smaller payments will increase your overall repayment period and could cost you more overall due to interest
3. Lenders are not obliged to accept a new debt management plan.

Get expert debt management advice from All About Money

If you're thinking about entering into a debt management plan, talk to one of our expert debt advisers today on 0800 195 2911.

They can talk you through your finances and help you find the best way of repaying your debts - so you can declare yourself debt-free as soon as possible.

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