Debt Management Explained

Our debt management service offers free confidential advice to help you find a solution to your financial difficulties. We specialise in clearing our customers’ unsecured debts through affordable monthly payments.

We will allocate you a fully trained personal advisor. Their job is to talk through your current situation and devise a Debt Management Plan to help get you back on your feet.
We can help customers -

  • Who have overstretched themselves with credit cards, loans or overdrafts.
  • Whose monthly expenditure now exceeds their monthly income
  • Who are using credit cards to pay off other debts or to pay for items they previously bought with cash
  • Who have had a consolidation loan refused
  • Whose circumstances have changed due to a divorce, separation, bereavement, loss of job or overtime
  • Who feel like no one is listening 

To view our terms and conditions please click here.

  

What does the service cost?

Your first and second monthly payments with a minimum fee of £200.00 and a maximum of £1,000 (Where the monthly payment is greater than £500.00 an amount of £1,000 will be taken over a period of two months and any remaining fees will be distributed from your payments.) The first two months payments are retained by us for setting up your Debt Management Plan and is therefore not paid to your creditors, which means that your account will go 2 months into arrears. There is also a monthly management fee of 17.5% of your monthly payments subject to a minimum of £25 and a maximum of £100.

 

Is there anything else I should know?

We will provide you with a 7 day “cooling off” period from the date you accept our Terms and Conditions or, if earlier, from the date your first payment is received. If you decide not to continue with the plan within the first 7 days, we will refund your initial fee.

It is likely that your ability to obtain further credit in the short term will be affected and this may also be the case over the medium to long term. 

For further information, please see our FAQ page

 

 

 

The Next Step

All debt solutions should be very carefully considered; we will always provide you with the best advice to ensure you get a soft landing away from the burden of debt. Simply forward your details on our Contact Form and we will contact you. Alternatively ring us on our FREEPHONE ADVICE LINE 0800 085 1825 to have a full consultation with our specially trained advisors.

The Insolvency Service has produced a guide: In Debt - Dealing with your creditors, to support those who find themselves in financial difficulty during the recession.

 

Financial Information

All debt solutions should be very carefully considered. Fees will be charged if a solution is taken in order for us to set up and maintain your plan - all fees will be outlined during your consultation. For further information on fees, please see the FAQ section of the different solutions available. Retained payment may place you further into arrears. The Debt Advisor complies with the Consumer Credit Act and you have a right to a cooling off period of 7 days. It is likely that your ability to obtain further credit in the short term will be affected and this may also be the case over the medium to long term. 

 

 

 

 

All debt solutions should be very carefully considered. Fees will be charged if a solution is taken in order for us to set up your plan and maintain it - all fees will be outlined during your consultation. For further information on fees, please see the FAQ section of the different solutions available. Retained payment may place you further into arrears. The Debt Advisor complies with the Consumer Credit Act and you have the right to a cooling off period of 7 days. It is likely that your ability to obtain further credit in the short term will be affected and this may also be the case over the medium to long term