DEBT MANAGEMENT PLANS

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Please see a range of debt management companies compared below. A debt management plan is for people who are finding debts difficult to manage. Rather than an IVA which is a set agreement, a debt management plan can be more flexible and are usually dealt with on a case-by-case basis. In general however, the debt management company will be able to negotiate your debt management plan with your creditors on your behalf. In addition, they will be able manage your debts into one low monthly payment – and interest rates might be frozen. You will usually need to prove that you have a minimum amount of debts in order to qualify for a debt management plan – this can be around £1,000 but check to see what the minimum amount is as it may vary according to the debt management plan provider. Use the table to compare vital aspects of each debt plan such as your debt options, write off options and what identification requirements the company has.

If you wish to speak to someone: Contact Us or Enquiry Line: +44 (0) 207 386 5300

PROVIDERDEBT OPTIONS

DEBT OPTIONS

Forms of IVA available

MIN DEBT

MIN DEBT

Minimum debt necessary to apply

MIN MONTHLY REPAYMENT

MIN MONTHLY REPAYMENT

Minimum monthly repayment

WRITE OFF OPTIONS

WRITE OFF OPTIONS

Potential debt write off

ID REQUIRED

ID REQUIRED

Identification required to apply

TERMS

TERMS

Terms and conditions of IVA

RESTRICTIONS

RESTRICTIONS

Restrictions for applicants

MORE INFO

Debt Line Debt Management Plan
Debt Line Debt Management Plan

Debt Management Plans£1,000.00£100.00NoIdentification Required

Identification Required

Initially personal details, income and expenditure details

Terms and Conditions

Terms

All you need is to have at least £1000 worth of unsecured debt, simple!

Restrictions

Restrictions

To set up a debt management plan you need to be able to afford to pay at least £100 a month, which is less than £3 a day.

Debt Line Debt Management Plan
Debt Line solve debt problems through debt management plans for thousands of customer’s everyday by reducing the amount they have to pay every month, freezing the interest and charges on their accounts and also stopping any creditors from being able to hassle them. They can even help even if you've got bad history and they don't credit check you. They currently deal with over £215,000,000 worth of the UK's debt for more than 16,000 customers who were once struggling. Read the terms and conditions carefully. DETAIL INFORMATION >>Advantages

Advantages

1. One monthly payment to cover all your debts pay by card, Direct Debit or in cash at any one of over 20,000 PayPoint locations.
2. We deal with creditors and debt collectors so you don't have to. We represent you so that you don't need to deal with phone calls chasing you for payments.
3. Pay no more than you can afford each month. We prepare income and expenditure analysis to creditors showing what you can comfortably afford to pay every month. By law they cannot force you to repay more than you can afford.
4. Easy 5 minute set up. Set up now online by clicking below and completing 4 easy stages
5. The only fully online debt management company in the UK.


Disadvantages

Disadvantages

1. Debt doesn't disappear instantly by taking a debt plan.
2. You must read the terms and conditions to see any charges.

The Debt Support Company
The Debt Support Company

Debt Management Plans and IVAs£1,000.00£80.00NoIdentification Required

Identification Required

Initially contact and debt details

Terms and Conditions

Terms

You must be 18 or over and owe money for a minimum of one payday loan

Restrictions

Restrictions

You must have more than two separate debts. For more information speak to an advisor.

The Debt Support Company
The Debt Support Company is an independent ethical, debt management company that works to put you first. You can be confident that we will always recommend the best debt management solution depending on your personal circumstances. We are able to offer a range of advice on IVA's, Debt Management Plans and general debt advice, all with no obligation. We understand how mounting debts can make you feel, and it is our goal to assist you in getting your finances into shape, and to live a normal, debt free life again. DETAIL INFORMATION >>Advantages

Advantages

The Benefits Of Debt Management
 
1. Every customer gets their own individual debt management advisor
2. The customer makes one affordable monthly payment
3. We will deal with the creditors directly, so you don't have to
4. We will regularly review the customers income and expenditure
5. We will attempt to reduce or freeze creditor interest rates
6. The customer takes control of their life and future
 
 
The Benefits Of An IVA
 
1. An IVA will safe guard your property if you are a homeowner
2. Threatening telephone calls and letters from your creditors will stop
3. An interim order can be made to prevent legal action from your creditors
4. Creditors must freeze all further interest and charges
5. When an IVA is completed any outstanding debt is written off and cleared
6. An IVA means you make one affordable monthly payment


Disadvantages

Disadvantages

There is a Monthly Service Fee:
1. If the Monthly Payment is less than £ 170.00 the Monthly Fee is £ 29.00
2. If the Monthly Payment is more than £ 171.00 the Monthly Fee is £ 35.00 or 15% whichever is greater

They may end this Agreement at any time by giving You two weeks prior written notice if any of the following happens:
1. You fail to make two successive Monthly Payments; or
2. You are otherwise in serious breach of this Agreement or have persistently committed a series of minor breaches (even if
any one individual breach would not necessarily be regarded as a serious breach on its own); or
3. You become bankrupt, file a bankruptcy petition, make an arrangement or composition with your Creditors generally, or
make an application to a court of competent jurisdiction for protection from your Creditors generally.
 
 
The Disadvantages of Debt Management
 
1. The arrangements are informal. Your creditors can change their mind at any time
2. Your credit rating may be still affected
3. Whilst it may reduce your monthly payments to make them more affordable, it usually means you will pay more in total over a longer period
4. In the worst case if your debts are serious you may find you have no real prospect of becoming Debt Free
 
The Disadvantages of an IVA
 
1. You will be expected to pay as much as you can - so very little spare money each month
2. May require you to release equity if you are a homeowner
3. If you fail to maintain the agreed repayments, it may result in Bankruptcy proceedings being taken

Clear Your Bills
Clear Your Bills

Debt Management PlansNoNoNoIdentification Required

Identification Required

Financial and residential information

Terms and Conditions

Terms

You must be 18 years or over and in debt

Restrictions

Restrictions

Minimum age 18 years

Clear Your Bills
Are you fed up with letters and calls from creditors? Would you like to reduce the amount of your debt? Would you like to repair your credit rating? Then the solution might be the absolutely free service of Clear Your Bills, who are able to find the best personalized money management solution for your needs. Find out now if you qualify! DETAIL INFORMATION >>Advantages

Advantages

1. Free service.
2. No obligation.
3. Personalized solutions


Disadvantages

Disadvantages

Detailed information only possible after personal details given

Debt Assist 123
Debt Assist 123

Debt Management Plans
IVAs
£5,000.00£50.00NoIdentification Required

Identification Required

ID may be required. Apply for more information.

Terms and Conditions

Terms

At least 2 creditors are required to apply.

Restrictions

Restrictions

You must have more than two separate debts. For more information speak to an advisor.

Debt Assist 123
Debt Assist 123 is a UK-based debt management plan specialist. They offer debt management assistance for free, with personalised advice and claim to be able to help you write off up to 70% of your debts - the online application process is easy and quick. Before you apply for an IVA it is important to consider your financial circumstances carefully and if it is possible you should seek expert financial advice. Always read the terms and conditions carefully. Please read the terms and conditions carefully. DETAIL INFORMATION >>Advantages

Advantages

1. Minimum debt required is lower than other debt services
2. Online application is easy
3. Up to 75% write-off


Disadvantages

Disadvantages

1. Website is cagey on fees and extras
2. Must apply to find out more

edebtrelief Debt Management Plans
edebtrelief Debt Management Plans

1. IVAs
2. Debt Management Plans
3. Trust Deeds
4. Debt Relief Orders
5. Bankruptcy
No£50.00Up to 60%Identification Required

Identification Required

Initially personal details such as income and disposable income

Terms and Conditions

Terms

You must be 18 or over

Restrictions

Restrictions

You must have 2debts or more in need of payment. Speak to an advisor for more information.

edebtrelief Debt Management Plans
You could write off your debt with an IVA typically within 5 years. Your interest and charges are frozen so that you can pay off the debt itself rather than the extra charges. Get in touch with edebtrelief today so they can get you on the road to financial security. Any debt management plan involves discipline and it will still take a lot of effort to reduce your debts. Please make sure that you read the terms and conditions of any debt management plan you apply for carefully in order to make sure that you are fully aware of your financial obligations. DETAIL INFORMATION >>Advantages

Advantages

No Obligation and confidential advice
1. Fill out our form and receive a confidential no obligation call from a specialist
2. Full analysis of your debt, income and personal situation
3. Clear advice on how to set up your solution


Disadvantages

Disadvantages

1. The arrangements are informal. Your creditors can change their mind at any time 2. Your credit rating may be still affected 3. Whilst it may reduce your monthly payments to make them more affordable, it usually means you will pay more in total over a longer period 4. In the worst case if your debts are serious you may find you have no real prospect of becoming Debt Free

moneyblanket.co.uk
moneyblanket.co.uk

1. IVAs
2. Debt Management Plans
3. Trust Deeds
4. Debt Relief Orders
5. Consolidation Loans
6. Bankruptcy
£5,000.00NoNoIdentification Required

Identification Required

Initially employment and residential details

Terms and Conditions

Terms

You must be 18 or over

Restrictions

Restrictions

1. You must be a UK resident

moneyblanket.co.uk
At Moneyblanket.co.uk we do not directly give you advice or provide you with a debt solution. Our role is to take what information you provide us and match you up with a debt management plan from a company from our panel of debt specialists. The chosen company can then give you the best advice or solution for your situation. Find your best debt solutions online - use our FREE debt calculator to find the debt solution that meets your need and requirements. Please read the terms and conditions carefully. DETAIL INFORMATION >>Advantages

Advantages

1. We'll suggest the most suitable debt solution for you based on your current debt and personal details
2. We'll analyse your debt, income and personal situation to work out which debt solution might be best for you
3. Clear advice on how to set up your solution


Disadvantages

Disadvantages

1. The arrangements are informal. Your creditors can change their mind at any time 2. Your credit rating may be still affected 3. Whilst it may reduce your monthly payments to make them more affordable, it usually means you will pay more in total over a longer period 4. In the worst case if your debts are serious you may find you have no real prospect of becoming Debt Free

Trapped.co.uk
Trapped.co.uk

IVAs
Debt Management
Consolidation Loans		£1,500.00NoNoIdentification Required

Identification Required

Amounts owed, name, address, partner details, age, marital status, credit details

Terms and Conditions

Terms

Must fill out an application to get a free calculation

Restrictions

Restrictions

Repaying your debt over a longer period of time may increase the amount you have to pay back.

Trapped.co.uk
Trapped.co.uk offers Debt Management Plan advice, IVAs and Trust Deeds (Scotland) for people struggling with their debts. Find out if you qualify online. Any debt management plan involves discipline and it will still take a lot of effort to reduce your debts. Please make sure that you read the terms and conditions of any debt management plan you apply for carefully in order to make sure that you are fully aware of your financial obligations. Some debt management plans can be more expensive overall than your original debts. DETAIL INFORMATION >>Advantages

Advantages

1. Write off up to 60% of your debts
2. Reduce payments
3. One monthly affordable payment
4. Trapped.co.uk advisors arrange 1000s of debt plans each month, so it is likely they have already arranged a debt plan with some of your creditors in the past!


Disadvantages

Disadvantages

1. A Debt Management Plan can affect your credit rating in the medium to long term.
2. Repaying your debt over a longer period of time may increase the amount you have to pay back.
3. There are often fees attached to a debt management plan which the debt management company charges to manage your plan.
4. The debt management companies will often only manage your non-priority debts such as credit cards, unsecured credit and store credits. Debts such as rent or your utility bills will still have to be managed by yourself. Your debt management company will ensure that your monthly budget always accounts for your previous bills.

Debt Restart (Debt Management)
Debt Restart (Debt Management)

1. Debt management plans
2. IVA's
3. Debt Relief Orders
4. Trust Deeds
5. Bankruptcy
NoNoNoIdentification Required

Identification Required

Initially your financial and residential details

Terms and Conditions

Terms

You must be in debt to at least one creditor and be 18 years or older to apply

Restrictions

Restrictions

You must be 18 years or older in order to apply

Debt Restart (Debt Management)
Are you struggling to make monthly payments on your debts? Looking to financially get back on your feet? Debt Restart's advisers will act on your behalf to negotiate with your creditors and help you choose the best debt management solution given your specific circumstances. Any debt management plan involves discipline and it will still take a lot of effort to reduce your debts. Please make sure that you read the terms and conditions of any debt management plan you apply for carefully in order to make sure that you are fully aware of your financial obligations. DETAIL INFORMATION >>Advantages

Advantages

1. Debt Restart is 100% free for you to use.
2. You won't have multiple creditors to pay. Just one affordable monthly payment to the debt management company.
3. You'll have less personal contact with the creditors.
4. A debt management company is far more likely to succeed in getting your interest levels frozen and charges reduced.
5. You won't incur further interest and fees associated with taking out a consolidation loan.


Disadvantages

Disadvantages

1. Debt Advisors may a charge a fee after you have agreed to use their service and this will depend on the debt solution provided.
2. Your credit rating may be negatively affected for a longer term.
3. Unless your interest rates are frozen or lowered, paying back a lower amount over a longer period could substantially increase the actual amount you repay.
4. You will still need to pay your non-debt related bills. A debt management company will usually only be responsible for unsecured debts including credit cards, loans, overdrafts, storecards and catalogues.

The Finance Facility Debt Management
The Finance Facility Debt Management

Debt Management Plans and IVAsNoNoNoIdentification Required

Identification Required

Initially personal and contact detais.

Terms and Conditions

Terms

You must be employment and aged 18 to 65 years

Restrictions

Restrictions

You must be a resident of the UK to apply

The Finance Facility Debt Management
The Finance Facility can provide demt management solutions when you need them the most. They work with a panel of experts who will do their best to help you out of financial hardship. As your broker, their primary objective is to provide you with a debt consolidation service that is second to none. They consider themselves the UKs best Debt consolidation specialists. Any debt management plan involves discipline and it will still take a lot of effort to reduce your debts. Please make sure that you read the terms and conditions of any debt management plan you apply for carefully in order to make sure that you are fully aware of your financial obligations. DETAIL INFORMATION >>Advantages

Advantages

1. No upfront fees
2. No multiple credit checks
3. Search over 200 lenders for you.


Disadvantages

Disadvantages

1. The arrangements are informal. Your creditors can change their mind at any time 2. Your credit rating may be still affected 3. Whilst it may reduce your monthly payments to make them more affordable, it usually means you will pay more in total over a longer period 4. In the worst case if your debts are serious you may find you have no real prospect of becoming Debt Free

If you wish to speak to someone: Contact Us or Enquiry Line: +44 (0) 207 386 5300

Related Debt Management Products

IVACredit Reference AgenciesBad Credit Current AccountsPrepaid CardsPoor Credit Rating CardsPayday LoansBad Credit LoansLogbook LoansCar LoansGuarantor LoansConsolidation LoansUnsecured Loans

Compare Debt Management Services

Look forward to living a debt free life with a Debt Management Plan but make sure it is the right debt solution for you.

Debt management plans are a popular solution for people looking to get out of a debt situation.

A debt management plan is an agreement with your creditors to repay what you owe in instalments. Debt management plans will help you budget more effectively because usually your monthly payments are reduced over a period of time, often extending when you debt has to be repaid.

What are the benefits of a Debt Management Plan?

With a debt management plan it is possible to get your creditors to freeze interest charges which can help you clear your debts faster. However, please note that your creditors to not have to agree to any such proposals. As they will deal with all correspondence from your creditors this is ideal for people are being constantly hassled.

When you take out a debt management plan you will work with people who are debt experts and have often helped thousands of people get out of debt. Not only will you be offered a non-judgemental and professional service but you can depend on support and assistance whenever you need it.

What are the drawbacks?

As debt management plans do not have a set lifespan they can take a long time to complete depending on how much you can comfortably afford to pay each month and the level of your debt.

Remember that if your creditors do not agree to have the interest on your debt reduced you could find that smaller monthly payments will mean that your debt can take a longer time to pay back which can cost you more in the long run.

Finding the right debt solution for you

A debt management plan is just one way to deal with your debts. You should look into all the debt solutions available to you including Individual Voluntary Arrangements and Consolation Loans before you make a decision.

Remember that some debt managements companies can charge a fee for their service which will be included in the repayments you make. However there are free services available but you might not get as much assistance and support if you do not pay.

Use the table above to compare different debt management plans.

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DEBT MANAGEMENT - LATEST NEWS News and Charts

Baines & Ernst Debt Management

27 June 2012 16:30
Which Way to Pay

A new product now available for you to compare, if you need a little extra help getting your finances in order and keeping up with debt repayments, Debt Management from Baines & Ernst could be the answer to your problems!

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Debt Restart Debt Management

18 June 2012 17:00
Which Way to Pay

Now available for you to compare Debt Restart can help if you are you struggling to make monthly payments on your debts.

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Do You Have Multiple Debts?

18 May 2012 17:00
Florence Fullalove

One debt management solution is a consolidation loan. If you are tired of juggling monthly outgoings, or are struggling with payments to more than one lender a consolidation loan can help.

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Debt Free Direct

17 April 2012 12:00pm
Which Way to Pay

If you need help overcoming a debt problem why not consider the services of Debt Free Direct a debt management service now available at Which Way To Pay.

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In Debt? Get a Debt Management Plan!

05 April 2012 16:00
Jack Stupple

There are thousands of people in the UK who are struggling to deal with debt problems so don't worry you are not alone. Debt management plans come in all shapes and sizes. The companies that offer these services will look at your individual circumstances and find the best solution to you debt problems.

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