Take the pressure off with a debt management solution
If you’re finding it difficult to meet your credit repayments, then a debt management solution could help you by reducing your repayments now - and in the future and help you to pay off your debt more easily.
A debt management plan could help in the following ways
- Provide an effective and affordable way to help you to pay of your debts more easily
- We negotiate with your creditors to agree an affordable monthly repayment for you
- Your interest and charges could be reduced or even frozen
- On average customers reduce their monthly credit repayments by around 50%
- We manage all creditor corrospondance - so you don’t have to
- Reduce financial pressure, giving you freedom to live again without the consistent financial struggle
See if you qualify - it takes just minutes to apply!
See if debt management is right for you - it takes just minutes...
Our debt management application form takes just minutes to complete, so why not apply online now to see if you qualify and see what difference a debt plan could make to your finances!
Alternatively, if you would prefer to apply over the phone where a member of our experienced team can help answer any questions you may have then please call 0845 519 8764.
See if you qualify Call for a fast loan quote on 0845 519 8764
Get expert financial help with a debt management solution
Credit consolidation or debt management?
In some instances, a credit consolidation loan could be an alternative option to a debt management plan depending on your financial circumstances. If you are looking to reduce your credit outgoings and borrow some additional money knowing that it is still affordable for you, then a credit consolidation loan could be the obvious solution.
Call us today on 0845 519 8764 and we could quickly let you know whether a credit consolidation loan or a debt management solution could be suitable for you.
IVA (Individual Voluntary Arrangement)
For more serious debt problems, an IVA (Individual Voluntary Arrangement) may be more appropriate.
An IVA is a legally binding agreement to protect you from creditors and help you avoid the possibility of loosing your home or even bankruptcy, should they take further action.
It involves a formal agreement that informs your creditors what you can afford to pay monthly based on your circumstances and is set over a specific period (normally 5 years). After this period, if you have kept to your repayments, any remaining unsecured debt is written off - meaning you could be debt free in just 5 years!
If you're unsure whether an IVA is right for you, please read the key differences between a debt management plan and an IVA .
Unsure which debt management solution is right for me?
It’s not always easy to know what solution is right for your individual circumstances, so why not call us today and let us talk you through the options that are available to you. We can then help answer any questions along the way.
Call 0845 519 8764 to speak with one of our friendly experienced team or complete the call back request form and we’ll call you back.
Frequently asked questions
Is debt management right for me?
If your monthly credit repayments are more than you can afford to pay and you have not been accepted for a consolidation loan or remortgage to help reduce monthly repayments then a debt management plan could be the right solution.
If you are struggling to make your monthly credit repayments, it is important not to leave it too long or ignore the situation as failure to act fast can have significant consequences. Tackling the problem early before you default on too many repayments could mean that a credit consolidation may still be available to you. Failing this, a debt management plan could then be your next best option.
If you're unsure if debt management is right for your financial circumstances then click here and complete our short form to see if you qualify. Our experienced team can help inform you what options are available to you and whether a credit consolidation loan or debt management plan could be right for your circumstances.
Will debt management affect my credit rating?
As you will not be fulfilling payments in full to your existing creditors, your credit rating will be affected in the medium to long term. However, not tackling your current financial problem and getting help early could lead to more severe consequences such as bankruptcy and even repossession of your home.
A debt management plan could significantly take the pressure off your monthly finances, allowing you to live your live again and therefore your credit rating could be a small price to pay compared to not taking action early.
Will creditors still contact me direct?
With a debt management plan being an informal arrangement, your creditors are still entitled to contact you directly. We do however try to reduce this communication to a minimum and all correspondence from your creditors sent to you during your plan should be sent here, for your plan manager to take care of for you.
With an IVA, your creditors are prohibited from sending communications or calling you. You are also protected from any further court action by your creditors
Key differences between a debt management plan and an IVA
Wondering what the main differences are between a debt management plan in comparison to an IVA?
They both have similarities, but the main differences are:
- An IVA is legally binding solution, whereas a debt management plan isn’t
- An IVA could freeze interest and charges
- An IVA will write off the debt you can't afford to pay
- An IVA typically lasts five years whereas a debt management plan has no fixed end date
As an IVA is a legally binding agreement, you are also protected from your creditors changing their mind at any stage so offers this added security from your creditors.
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Simply call 0845 519 8764 and our friendly customer service team can answer any questions you may have.
Also, have you seen our FAQ's?
Secured loan FAQ's Debt management FAQ's