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Total Unsecured Debts £	Please select............ £0 to £3,000 £3,000 to £5,000 £5,000 to £10,000 £10,000 to £15,000 £15,000 to £20,000 £20,000 to £25,000 £25,000 to £30,000 £30,000 to £35,000 £35,000 to £40,000 £40,000 to £45,000 £45,000 to £50,000 £50,000 to £60,000 £60,000 to £70,000 £70,000 to £80,000 £80,000 to £90,000 £90,000 to £100,000 £100,000 or more	Your Name
Total Monthly Repayments £	Please select............ Up to 100 200 250 300 350 400 450 500 550 600 650 700 800 900 1000 1100 1200 1300 1400 1500 1600 1700 1800 1900 2000 2000 2100 2200 2300 2400 2500 2600 2700 2800 2900 3000	Your Telephone
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Debt Management Plan | Debt Solution

If you are currently struggling with debts of around £2000 - £15,000 and are unsure of what steps to take next, Debt Solutions can offer you help. We offer a range of debt solutions for all types of debt situations. One of the debt solutions we offer is known as debt management.

Debt Management also known as Debt Management Plans is when you reach an agreement with your creditors to repay your debts at a lower rate that is more affordable to you. This agreement unlike and IVA or Trust Deed is informal. Debt Management is a good solution for people who have debts that have got out of control. As it is an informal arrangement you are not tied into any contract and you can opt out of the agreement at any time, like for example when you are in a better financial situation.

You can organise a Debt Management Plan yourself or have a Debt Management company like ourselves handle it for you. In that situation we would handle all contact with your creditors and you would only have to speak with us regarding your arrangement.

If you are interested in finding out more about Debt Management then please browse the debt management section of the website or phone us direct now on 0800 043 0200 and our Debt Management Advisors can answer all your questions about debt management plans.

Benefits of a Debt Management Plan

• An Informal agreement that can be stopped at any time as your circumstances change (for better or worse).
• Interest & Charges could be frozen if creditors agree.
• Creditor pressure eased as they deal with us.
• 1 easy monthly payment to cover all unsecured debts.
• A debt management company will negotiate with creditors on your behalf, so offers are more likely to be accepted and interest frozen than if you try to do this yourself.
• A debt management company will help you prepare your plan, including agreeing the level of your household and personal spending based on guidelines, which can then be used to put your case to the creditors.
  

Disadvantages of a Debt Management Plan

• Can remain on credit file for sometime after completion if a default notice has been issued.
• If your creditors refuse to freeze or reduce interest this can lead to increased debt level as repayments are less than original contractual payments. Any further collection actions may incur costs that will normally be added to the debt.
• Debts will be repaid over a longer period of time than if contractual payments were made.
• You will repay debts until they are paid in full
• Repaying debt over a longer period may increase the total amount to be repaid.
• Your ability to obtain credit will be affected in the short term and might be affected in the medium to long term.

Debt Management Frequently Asked Questions

See our Frequently Asked Questions (FAQ) about Debt Management Plans.

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About Debt Solutions

We have been helping people with their finances since 1932 and have helped 1000's of people deal with the misery and stress of debt. 

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