Need Some Debt Help?

If you're struggling with multiple debts and are looking for a simple way to manage your finances, then an individually tailored Debt Management Plan could be just what you need.

We've helped over 2,000,000 people with their finances!

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Need Advice?

Call free on:
08000 831 831
or for mobiles:
01483 412 966

Need Advice?

Call free on 08000 831 831
Alternative number for mobiles: 01483 412 966

  • Have one affordable monthly payment
  • Clear your debts without a loan
  • Reduce demands from your creditors

How a debt management plan will help me?

A Debt Management Plan will help you manage all of your current debt by working out a monthly payment plan designed specifically to fit with your financial means.

By consolidating your payments into one, affordable monthly payment, you can relieve yourself of the pressures of having to pay back multiple debts at once. Generally, though not always, your creditors will freeze the interest and penalties on your debts so that your reducing your monthly payment doesn't have significant adverse effects in the long run on the amount you need to pay back.

With a Debt Management Plan, you can take control of all of your current debt without needing to take out any more credit, as you would with, say, a debt consolidation loan

The Debt Management Process


1. Fill in your details for no obligation debt advice introduction

Fill in the short form above to let us know a bit about yourself, including the level of debt of you're in, and some contact details. You're not committing to anything at this point - you're free to take or leave the advice you're given.


2. Wait for the call

One of our trusted partners will look over the information you've given, and will get in touch to discuss the different options available to you, and help advise you on the best course of action.


3. Start clearing your debt!

Once you've settled on a solution, you can get started right away making the requisite monthly payments, and you'll be well on your way to becoming debt free.

More about Debt Management

  • The Benefits of a Debt Management plan

    The main benefit of a Debt Management Plan is that it allows you to pay off all of your current debt much more easily and while still managing to maintain a normal standard of living. Generally, the length of time that you are in debt will increase, but the impact the debt has on your daily life will be reduced significantly. As mentioned above, another significant benefit of a Debt Management Plan is that it is one of the few debt solutions which does not require you to take out any more credit of any kind. While taking out another loan can be helpful, as with a Debt Consolidation Loan, many see a Debt Management Plan as a more prudent option, and would rather escape debt altogether than take out one loan to pay off others. While a Debt Management Plan and its conditions are not legally binding upon your creditors, they will still generally stop any interest or penalty charges while you are repaying your debt. This means that extending the amount of time you spend paying back what you owe should not put you at much (if at all) of a disadvantage in terms of the amount you actually pay back.

  • Disadvantages of a debt management plan cases

    The main benefit of a Debt Management Plan is that it allows you to pay off all of your current debt much more easily and while still managing to maintain a normal standard of living. Generally, the length of time that you are in debt will increase, but the impact the debt has on your daily life will be reduced significantly. As mentioned above, another significant benefit of a Debt Management Plan is that it is one of the few debt solutions which does not require you to take out any more credit of any kind. While taking out another loan can be helpful, as with a Debt Consolidation Loan, many see a Debt Management Plan as a more prudent option, and would rather escape debt altogether than take out one loan to pay off others. While a Debt Management Plan and its conditions are not legally binding upon your creditors, they will still generally stop any interest or penalty charges while you are repaying your debt. This means that extending the amount of time you spend paying back what you owe should not put you at much (if at all) of a disadvantage in terms of the amount you actually pay back.

  • Is Debt Management Right For Me?

    The main benefit of a Debt Management Plan is that it allows you to pay off all of your current debt much more easily and while still managing to maintain a normal standard of living. Generally, the length of time that you are in debt will increase, but the impact the debt has on your daily life will be reduced significantly. As mentioned above, another significant benefit of a Debt Management Plan is that it is one of the few debt solutions which does not require you to take out any more credit of any kind. While taking out another loan can be helpful, as with a Debt Consolidation Loan, many see a Debt Management Plan as a more prudent option, and would rather escape debt altogether than take out one loan to pay off others. While a Debt Management Plan and its conditions are not legally binding upon your creditors, they will still generally stop any interest or penalty charges while you are repaying your debt. This means that extending the amount of time you spend paying back what you owe should not put you at much (if at all) of a disadvantage in terms of the amount you actually pay back.

Applying for debt
management

Applying for a Debt Management Plan is easy via Money Expert. Simply fill in the form and our trusted business partner will start by offering debt management advice based on your situation.

From there they can set up a Debt Management Program for you, involving one simple monthly payment, tailored to fit with your disposable income. Our advice requires no obligation from you, and could set you up to start taking control of your finances within minutes.

Frequently Asked Questions About Debt Plans
  • Are there debt management plans for people with bad credit?

    You should still be able to apply for a Debt Management Plan if you have a bad credit rating, so long as you still have the appropriate level of income. Your Debt Management Plan will however most likely show up in your credit history for a minimum period of six years and be seen as a negative point by any potential future creditors, making it more difficult for you to get a loan or credit card in the future.

  • Will Money Expert charge me for debt advice?

    Money Expert charges fees as explained in their Terms and Conditions. However, they do not charge for the initial call where they provide you with an assessment of your current position, advise on whether a debt solution would be suitable for you, and if so which product would be most appropriate.

  • Is a debt plan legally binding?

    It depends on the exact plan you choose. Debt management plans are not legally binding, but an individual voluntary arrangement, for example, will be.

  • How many creditors will my plan cover?

    There is no set limit to the number of debts a Debt Management Plan can cover, but the details of each case are worked out on a case by case basis. Therefore, if your income is vastly disproportionate to the amount you owe, you may have trouble getting a plan agreed upon.

  • What is Insolvency

    Insolvency is the state of being unable to pay off any outstanding debts that you may have or, alternatively, the state of having liabilities that are worth more than your total assets.
    There are various different ways of declaring insolvency but bankruptcy is probably the most well known.

  • What is Bankruptcy

    Bankruptcy is a rather severe form of insolvency that should be treated as a last resort. It is essentially a declaration that you are unable to pay back all of your existing unsecured debts (i.e. debts that are not secured against any of your assets such as credit card debts, rather than something like a mortgage that is secured against your home).
    Bankruptcy can be declared voluntarily, or you can be forced to declare bankruptcy by a particularly aggressive creditor (or creditors).
    Once bankruptcy has been declared, responsibility of your relevant assets, as well as the responsibility of communication with your creditors, will be taken on by a trustee; either an official receiver or an insolvency practitioner.
    While you are bankrupt, you will not be able to work as CEO or director of a company, or manage any business without first letting those you do business with know that you are bankrupt.

  • Can i use credit while bankrupt

    While you are bankrupt, you will not be able to borrow more than £500 without first informing the creditor of your bankruptcy.
    You will also not be able to take out a credit card until you are discharged from your bankruptcy order.
    Even once you are discharged, you will find it harder to use any form of credit while the bankruptcy order is still noted on your credit report. In such cases, you should consider taking out a specially designed credit building credit card that will allow you to steadily improve your credit score over time.

  • What is an Individual Voluntary Arrangement

    An individual voluntary arrangement, or IVA, is a form of insolvency that amounts to a legally binding agreement between you and your creditors, via an insolvency practitioner, involving a set repayment plan.
    An IVA involves settling as much as possible of your unsecured debt by extending the payment term, and reducing the monthly payments.
    You agree an amount to pay each month, which is then divided up among your creditors.
    Each IVA case will be managed by an insolvency practitioner, whose responsibility it is to help work out the exact payment plan, to manage the distribution of the payments themselves and to take charge of any liaison with your creditors. Once the IVA is in place, your creditors are no longer permitted to contact you or harass you regarding your payments

Debt Guides

Debt is a problem that most of us will find ourselves facing at least once in our lives.

But don't worry, with our comprehensive section of guides on debt solutions, you'll be able to find all of the information you need to get debt free right away

Bankruptcy

Bankruptcy Alternatives

Debt management Plans

The cost of DMPs

IVA's and Insolvency practitioners