Debt Solutions

If you are having problems with any kind of unsecured debt
then simply call us free today on 0800 083 4646
and we will find a solution that’s right for you.

Debt Management Plan (DMP)

Debt Management Plan (DMP)s are a flexible way to sort out your finances. They can change when your circumstances do giving you better control, whilst still making positive steps to reduce your debt. Debt Management Plans are usually for people wit h£15,000 debt or less, though this depends on exact circumstances. In cases of £7,000 or more you may find that an IVA or Trust Deed could be more appropriate, if you are unsure, please call today for confidential, helpful advice on 0800 083 4646.

Individual Voluntary Arrangement (IVA)

Individual Voluntary Arrangements are know as IVAs. They are a binding contract between you and your creditors (the people you owe money to). The agreement states that you will make fixed monthly payments each month into your IVA, and in return they will accept lower payments over a fixed term and write off unsecured debt that has not been repaid in this time.

You may qualify for an IVA if you have £10,000 of debt or more to 3 or more creditors. The criteria are not that simple though, the ‘I’ of IVA stands for Individual and you should be aware that each IVA is different based on an in depth assessment of your circumstances.

Trust Deeds (Scotland Only)

If you live in Scotland and have problems with debts then you might want to consider entering into a Trust Deed. A Trust Deed is a legally binding agreement between you and your creditors. Normally a trust deed lasts for 3 years and during that period you will make a single payment each month. At the end of 3 years, whatever unsecured debt that is still outstanding will normally be written off. Once a Trust Deed is initiated it becomes ‘Protected’ which means that the people that you owe money to cannot take any further action against you.

To enter into a trust deed you must be assisted by an Insolvency Practitioner and as such you cannot do it yourself. To find out more information call us now on free phone 0800 083 4646 or fill in your details above. We will then call you back at a time that is convenient for you.

Read more about Trust Deeds

Fees & Information

We cannot guarantee a reduction in interest or charges. If an IVA is not maintained it could lead to bankruptcy. Whilst initial debt advice is free, fees will be charged if a solution is taken out.

Fees related to Debt Management Plans are in two parts;

"Initial Fee" means your first two "Monthly Payments", which is paid by You to "Us". This represents our fee for establishing your arrangement, and therefore is not distributed to your creditors, and can be paid in two separate instalments. Retention of this fee will put you into further arrears.

"Monthly Fee" means the Fee payable for our Services each month. This is an amount equal to 17.5% of your "Monthly Payment" (apart from your first two "Monthly Payments" which is the "Initial Fee"), subject to a minimum payment of £30 for disposable incomes of 0 - £100, and £35 for disposable incomes of £100.01 - £200.

Fees incurred for Individual Voluntary Arrangements are variable dependent upon the monthly contribution to the arrangement and the agreement that is reached with your creditors. Fees are made up of Nominees fees relating to assistance given to prepare your proposal and Supervisor fees which relate to the ongoing monitoring of your IVA. Fees are already included as part of your monthly contribution. The level of fees and the method of payment are both agreed by your creditors at the outset of the arrangement.

A record of your agreement with us will be held on your credit file for up to six years, and your ability to obtain credit in future may be affected.

You are provided a cooling off period of fourteen days from the date the agreement was deemed to commence, during which you may cancel our agreement. Should you give notice to us that you would like a refund of a payment, or payments, (being other than the initial fee) then where no distributions have, at that time, been made by us, or are in the process or course of being made by us, in respect of that payment or payments this will be made in full (i.e. without deduction of our fee of 17.5%).

Debt Management Plans | IVAs | Debt Help

Debt Solutions

Debt Management Plan (DMP)

Individual Voluntary Arrangement (IVA)

Trust Deeds (Scotland Only)

Fees & Information